BuildNext to set up development centre in Hyderabad

Hyderabad: BuildNext, an IT-enabled construction company on Tuesday said it is going to open a development centre in Hyderabad.

Besides, it is expanding its operations in the State by opening a new experience centre in the city at Financial District, by next financial year.

BuildNext, powered by virtual reality and data analytics, provides construction solutions to individuals and real estate developers.

It entered Hyderabad with an experience centre in Banjara Hills, three months ago. In this trial period, they have signed up five realty projects whose total development area is six lakh sft.

The company said the development and experience centre will come up at an initial cost of around Rs 50 lakh. The development facility will work on enhancing their technology platform.

At present their experience centre in the city has 15 employees, which will increase to a total of 45 people with the upcoming centres.

"Hyderabad has been a promising market for us. We have achieved breakeven in our trial period of three months itself.

Foreseeing a boom in the construction sector here, we plan to open four to five experience centres in Telangana by the end of 2020.

We are expecting a turnover of over Rs 100 crore within the first year of operations here," the founder of BuildNext, V Gopikrishnan said.

The founder said, by end of 2020, BuildNext aims to cater to 500 projects with its plan to open more experience centres in Tamil Nadu, Andhra Pradesh, Karnataka and Maharashtra.