Arihant Superstructures Limited - Operational Update for April & May 2021

In the lockdown (2nd wave of Covid-19) months of the first quarter of the current financial year 2021-22, Arihant Superstructures Limited (ASL) has successfully digitally launched two new projects - Arihant Advika and Arihant S5Anaika. Arihant Advika located at Vashi, Navi Mumbai will cater to the High Income Group category and will have an estimated revenue potential of ~INR 600 Crs. In the affordable housing category, the company has launched 400 units in Arihant SAnaika at Taloja, Navi Mumbai in the price category of INR 28 lacs to INR 45 lacs. The new launches add ~700 units to our offerings in Q1-FY22.

On the sales front, the company has kept the momentum high with ~250 units booked in the last two months across all projects. We expect the sales environment to remain buoyant for our projects going forward.

As regards to execution, the company is pleased to update that construction activity at all projects is being carried out in full swing. In Q1-FY22, we have received commencement approval for the Arihant 5 Anaika Project and excavation work has also commenced for this project.

Meanwhile, we continue to care about the health and safety of our staff and construction workers at our project sites and continue to strictly follow all safety protocols mandated by the government.

Shares of Arihant Superstructures Limited was last trading in BSE at Rs.89.4 as compared to the previous close of Rs. 85.65. The total number of shares traded during the day was 10180 in over 181 trades.

The stock hit an intraday high of Rs. 89.75 and intraday low of 85.35. The net turnover during the day was Rs. 894605.

Source : Equity Bulls

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