Shree Yogi Realcon Private Limited, a 100% subsidiary of Ajmera Realty & Infra India Limited (ARIIL) (BSE: 513349, NSE: AJMERA), acquires property from Tata Communications Limited, the plot is owned by MHADA by executing the Tripartite agreement dated August 1, 2022.
The acquired land is spread across 1,721 sq.mt., where a residential property is to be constructed with a potential carpet area of ~95,000 sft and estimated to generate a sales value of ~INR 250 Cr over three 3 years with conservative price points.
Commenting on the development, Dhaval Ajmera, Director - Ajmera Realty & Infra India Limited said, "The acquisition of Pantnagar land is in alignment with the Company's vision of its 5x growth plan which targets a revenue potential of ~INR 4,000cr over the next 3‐5 years. Ghatkopar, Pantnagar is poised to become a lucrative destination for the homebuyers with its newly planned infrastructure development. Supporting to the above factors, we remain positive, attributing towards economy growth trajectory of India."
The superstructure will constitute two wings in the configuration of 2, 3 and 4BHK, having ~100 units with all the modern lifestyle amenities. With the recent shift of the Work from Home and Walk to Work concept, demand for mid‐segment to luxury housing will drive the demand for this project.
Ajmera Realty & Infra India Ltd will continue to widen its project developmental scale from existing owned land parcels and by acquiring a new databank through its robust JV/JD/DM model. The velocity achieved in residential sales is likely to sustain in the long term. With the growing demand for quality homes, an opportunity to expand in new micro‐markets has become conducive.
Shares of Ajmera Realty & Infra India Limited was last trading in BSE at Rs. 281.65 as compared to the previous close of Rs. 270.10. The total number of shares traded during the day was 16448 in over 962 trades.
The stock hit an intraday high of Rs. 283.00 and intraday low of 270.45. The net turnover during the day was Rs. 4549195.00.