Arihant Superstructures Ltd (ASL), one of the Largest Real Estate Developers in MMR Region announces the acquisition of additional 11 acres of Land adjoining to "World Villas" located Off Old-Mumbai-Pune Highway, Opposite to ND Film Studios at Chowk-Karjat Road.
The Property would be used for expanding the existing Layout of the Residential part of the project by adding more Villas. This acquisition would expand the Development to 88 acres at a location which falls under the Navi Mumbai Airport region of "Mumbai 3.0" and is a 30 minute drive from the upcoming Navi Mumbai International Airport & MTHL Sea Link which connects to South Mumbai.
Navi Mumbai-MMR is one of the fastest growing Real Estate markets in India with multi-fold growth in infrastructure projects such as MTHL, Navi Mumbai International Airport, SEZs, Industrial Parks and Corporate Parks which are expected to add 1 million jobs over the next decade, leading to growing requirement for residential units.
Commenting on this development, Mr. Ashok Chhajer, CMD, Arihant Superstructures Ltd said: "This additional land would improve the efficiency of the saleable component by adding more Villas to the project and increasing the Revenue Potential to INR 1200+ Crores. With this acquisition we are on track to achieve our Guidance of achieving 300+ acres of land bank within MMR. Our focus for further growth remains near Navi Mumbai Airport's influential Area."
Shares of Arihant Superstructures Limited was last trading in BSE at Rs. 442.55 as compared to the previous close of Rs. 442.45. The total number of shares traded during the day was 905 in over 120 trades.
The stock hit an intraday high of Rs. 450.80 and intraday low of 438.35. The net turnover during the day was Rs. 403316.00. |
