Ajmera Realty Aims Rs 320 cr Revenue from Mumbai Redevelopment Project
Ajmera Realty & Infra India has secured a redevelopment project in Mumbai's Shastri Nagar, aiming for Rs 320 crore in revenue. The project covers 2,319 sq meters and will be developed in a single phase.
Photograph: Shailesh Andrade/Reuters
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.
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.
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