Ajmera Realty zooms on bagging residential redevelopment project in Versova
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Ajmera Realty & Infra India is currently trading at Rs. 423.50, up by 14.85 points or 3.63% from its previous closing of Rs. 408.65 on the BSE.
The scrip opened at Rs. 412.15 and has touched a high and low of Rs. 433.90 and Rs. 408.00 respectively. So far 7635 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 440.05 on 10-Oct-2023 and a 52 week low of Rs. 230.30 on 04-Nov-2022.
Last one week high and low of the scrip stood at Rs. 436.85 and Rs. 407.00 respectively. The current market cap of the company is Rs. 1499.95 crore.
The promoters holding in the company stood at 69.73%, while Institutions and Non-Institutions held 0.84% and 29.43% respectively.
Ajmera Realty & Infra India (ARIIL) has undertaken redevelopment of Balkrishan Co-operative Housing Society based in Versova, one of the most sought-after locations by homebuyers in the Western Suburbs of Mumbai. Located at a 2-minute walking distance from Versova Metro Station, the redevelopment is estimated to generate sales of around Rs 360 crore and will primarily comprise 3 BHK residential apartments. This project reflects the dedication of ARIIL towards diversification into micro markets that not only strengthen the portfolio but also cater to the long-term growth of the company.
ARIIL's redevelopment project in Versova, Mumbai signifies a strategic move into a highly sought-after micro-market, drawing interest from homebuyers and notable individuals, including business leaders and celebrities. This emerging area, benefitting from redevelopment efforts and convenient metro access, is poised for substantial growth in both demand and property values. The project's advantageous location ensures access to a range of amenities, from quality healthcare and educational institutions to thriving commercial centers and recreational options, cementing Versova's reputation as a prime destination for savvy homebuyers in Mumbai.
Ajmera Realty & Infra India is primarily engaged in real estate development. Its real estate business caters to the mid and hi-end housing segments. It also operates in the hospitality and entertainment, which includes dome theatres, retail and malls, etc.
