Company’s total valuation is now at Rs. 125 cr plus
Bangalore, August 4, 2022: One of India’s leading tech-enabled construction companies, Design and Construct, has acquired a mid-sized construction firm, The Better Co making the group’s valuation Rs 125 cr plus. After the acquisition, the company will be operating under the flagship name of Design and Construct.
Headquartered in Bangalore, Design and Construct which has a presence in Hyderabad, Pune and Mysore, has been in the business of construction since 2020 and had raised funding earlier to grow the company further. The Better Co also founded in 2020 has been specialists in civil construction. With the acquisition, Design and Construct hopes to expand their pan India footprint as well as add to their existing service portfolio.
Announcing this at a press conference, Mr. Priyadarshi Mishra, Founder-CEO, Design and Construct, said, “We are very excited with this acquisition. By acquiring The Better Co, we will be acquiring the employee talent and skill-sets also, and are very confident that The Better Co, will help smoothen and fasten our global growth plans that we have on the anvil. We can’t wait to get started with such fusion.”
Commenting about the acquisition, Mr. Fahim Alam, CEO of The Better Co, said, “This is a
memorable moment, and we are happy to be coming together and working under the umbrella of Design and Construct. We hope to strengthen the group by sharing our expertise and adding value to the existing basket of services”.
The acquisition adds to the numbers
This acquisition will result in growth for the group, in ways more than one. Talking about the numbers, Mr. Gaurav Nanda, CFO – Design and Construct, said “We are happy that the group’s combined valuation will now be Rs 125 crore. We are also hoping to clock twice the turnover in the current financial year as compared to FY 21-22. We have also acquired talent in different verticals, which now makes the employee strength over 300.”
Talking about the synergies between The Better Co and Design and Construct, Mr. Priyadarshi Mishra further stated “ Design and Construct is ready for the expansion plans in tier 2 and tier 3 cities, with our rich experience in building end-to-end independent houses, from conceptualizing, designing, constructing, and providing remodelling services to villas, bungalows, duplexes, penthouses, farmhouses, and homes. Our next step is to create a global presence in Dubai, Malaysia, and Singapore. We are developing our SOP’s for expansion in the coming months. Apart from offering tech-enabled platforms for individual home construction clients, we are also planning to build a team for on-demand services”.
The company intends to set up a high-level VR-based experience centre across all metros by this year-end. By the end of 2023 Design and Construct intends to build around 1,000 homes.
The company currently has a B2B app for its existing customers which is an advanced e-tracking system providing with real-time project tracking without visiting the site. The company is in the process of launching a B2C app that will help customers choose and share from the palates of colours, designs, layouts