Ajmera Realty Aims Rs 320 cr Revenue from Mumbai Redevelopment Project

New Delhi, Mar 17 (PTI) Ajmera Realty & Infra India Ltd has bagged a project to redevelop a housing society in Mumbai and is expecting a revenue of Rs 320 crore.

In a regulatory filing on Monday, the company said it has been appointed to redevelop the premises of Ascot Co-operative Housing Society Ltd.

The project, covering a total land area of 2,319 square metre, will be developed in a single phase at Shastri Nagar in Andheri West.

"The project is expected to generate an estimated sales revenue of Rs 320 crore, with a total estimated carpet area of about 71,300 square feet," the company said.

With these project additions, the company has added four new projects with a total GDV (gross development value) of about Rs 2,770 crore.

"This project reinforces our commitment to revitalizing high-potential micro-markets through strategic redevelopment, JV/JDA models and asset-light acquisitions," said Dhaval Ajmera, Director, Ajmera Realty & Infra India.