Arihant Superstructures to Expand in Affordable Housing
Arihant Superstructures (BSE:506194, NSE: ARIHANTSUP) will continue to expand in affordable housing segment and plans to deliver 12,500 homes in Mumbai MMR and Jodhpur regions in next seven years.
The group had recently launched its flagship ‘Arihant Aspire’ at Palaspe, Panvel achieving sales of 267 units out of 650 in the initial phase. It has received project approval for ‘Arihant Anaika’ in Taloja. The group is scheduled to launch this project of 270 flats on 19th January 2018.
Ashok Chhajer, Chairman and MD of Arihant said that the company would play an important role in the Housing For All by 2022 of Prime Minister Narendra Modi. It has so far delivered 8000 homes totalling 7mn sq ft across 50 projects.
Arihant shares were trading at 171.40 levels in BSE after hitting a high of 174.20 and 171 at NSE after a high of 174.75. In September quarter, net profit had fallen 18% to Rs 3.03 cr while sales rose 28.66% to Rs 44.82 cr.