CHENNAI: As part of its preparation for a possible IPO listing, Chennai-based real estate company DRA Homes has rolled out a ₹125-crore ESOP programme, granting 5% ownership to its 325 employees and pushing its valuation to ₹2,500 crore. The fully granted ESOP, which vests over three years, is expected to create ten crorepati employees.
The announcement aligns with DRA Homes’ strategic roadmap as the company prepares for an IPO within the next three years. DRA Homes currently holds a valuation of ₹2,500 crore, supported by a strong operational and financial foundation. For the current financial year, the company is targeting ₹800 crore in revenue, building on last year’s revenue of ₹525 crore with a PAT of ₹50 crore. The company presently holds inventory worth ₹2,700 crore, underscoring the scale and depth of its ongoing and upcoming developments.
Ranjeeth Rathod, Managing Director, DRA Homes, said, “Our ESOP programme reflects a simple belief: if the company grows, our people must grow with us. True wealth creation is the most meaningful benefit we can pass on to our employees. Equity gives people choice and the freedom to build their lives the way they want. Through this ESOP, we want our team to experience that sense of security, independence and long-term value. Granting 5% ownership to employees ensures that everyone who contributes to DRA’s journey becomes a stakeholder in its future.”
Rathod added, “The company is planning for IPO listing in the next three years. The ESOP is the first step towards that direction and we want to make all our employees shareholders of the company. The ESOP will be distributed to employees in three phases over the period of three years. Before going for IPOs, I have certain metrics and numbers that I want the company to achieve in terms of revenue.” He said employees must have worked with the company for at least a year to be eligible for the programme.
The company currently employs 315 people and is engaged in 16 projects in and around Chennai. It is also planning to enter the Pune real estate market. Rathod said, “In terms of adopting modern technology, the company is experimenting with the usage of 3D printing in constructing villas. As of now, we are constructing only one villa in Karanai in Kancheepuram district. Aluminium formwork is the future for the real estate sector to deal with the shortage of skilled labourers in the industry.”
Aluminium formwork is a modern construction technique that uses reusable, lightweight aluminium panels to create moulds for casting concrete structures such as walls, slabs and columns.