Stock Report

Arihant acquires 3-Acre Landmark Property at Gateway of Chennai's IT Corridor

Posted On : 2025-06-25 15:18:09( TIMEZONE : IST )

Arihant Foundations & Housing Ltd., one of Chennai's leading real estate developers, has announced the acquisition of a strategically located 3-acre land parcel on MGR Salai, Perungudi situated at the gateway to the city's thriving IT corridor along Old Mahabalipuram Road (OMR). The proposed development will be a premium residential community of 0.7 Million Sq Ft with a Gross Development Value (GDV) of Rs. 1,200 Crores.

This marquee site is located within walking distance of over 15 million square feet of Grade A office space, including Global Infocity Park, Brookfield Millenia Park and DLF Downtown, positioning it as one of the most desirable residential destinations in Chennai. The project is poised to meet the strong demand for high-quality homes among professionals working in these thriving business hubs.

Kamal Lunawath, Managing Director of Arihant Foundations, stated: "This acquisition marks a significant step forward in our strategy to create premium residential communities in Chennai's high-growth corridors. Located at the gateway of Chennai's IT stretch, this project offers unbeatable access, connectivity, and lifestyle. We are committed to delivering a landmark living experience that will redefine urban housing in this micro-market."

The development will feature thoughtfully designed apartments with modern architecture, curated amenities, and green open spaces-hallmarks of the Arihant brand. Construction will commence post regulatory approvals, with launch timelines to be announced in due course.

Shares of Arihant Foundations & Housing Limited was last trading in BSE at Rs. 1392.60 as compared to the previous close of Rs. 1421.00. The total number of shares traded during the day was 3553 in over 37 trades.

The stock hit an intraday high of Rs. 1447.70 and intraday low of 1392.60. The net turnover during the day was Rs. 5042687.00.