Ranjeeth Rathod, Managing Director, DRA Homes, said: “Our ESOP program reflects a simple belief: As the company grows, our employees must grow with us. Creating real wealth is the most meaningful benefit we can pass on to our employees. Equity gives people choice and the freedom to live their lives the way they want. Through this ESOP, we want our team to experience this sense of security, independence and long-term value. By granting a 5% equity stake to employees ensuring everyone who contributes to DRA’s journey is successful.” a stakeholder in its future.”
Rathod added, “The company plans to list on the stock exchange in the next three years. The ESOP is the first step in this direction and we want to make all our employees shareholders in the company. The ESOP will be distributed to the employees in three phases over a period of three years. Before I decide to go public, I have certain metrics and figures that I want the company to achieve in terms of revenue.” He said employees must have worked for the company for at least a year to be eligible for the program.
The company currently employs 315 people and is involved in 16 projects in and around Chennai. It also plans to enter the Pune real estate market. Rathod said, “With a view to adopting modern technology, the company is experimenting with the use of 3D printing in the construction of villas. Currently, we are constructing only one villa at Karanai in Kancheepuram district. Aluminum formwork is the future for the real estate sector to address the shortage of skilled workers in the industry.”
Aluminum formwork is a modern construction technique that uses reusable, lightweight aluminum panels to create molds for casting concrete structures such as walls, slabs and columns.