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Published on 11/07/2019 12:27:37 PM | Source: Dion Global Solutions Ltd

Ajmera Realty and Infra gains 3.5% on plan to develop proj in Mumbai

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Shares of Ajmera Realty and Infra gainer over 3 per cent on Thursday at the Bombay Stock Exchange after company announced joint venture with local partner of Mumbai for development of commercial project. "It will be a joint development on revenue sharing basis in Ghatkopar on a plot size of 5,310 square metre which has a potential to develop approximately 9,000 square feet of saleable area as our share of development, which may generate revenue of approximately Rs 120 crore as our share of revenue," it added.

Its proposed development is for approximately 225 units. Subsequent to the development, shares of the company surged as much as 3.5 per cent at Rs 162.85 apiece on BSE. Meanwhile, the shares were trading at Rs 160.80 apiece, up by 1.80 per cent on National Stock Exchange. Meanwhile, the BSE Sensex was at 38,747.94, up by 190.90 points or 0.50 per cent at 12:15 hours.