Bharat Agri Fert & Realty: Rs 800 Cr Housing Project in MMR

New Delhi, Jul 16 (PTI) Bharat Agri Fert & Realty Ltd expects Rs 800 crore revenue from its new housing project in Mumbai Metropolitan Region (MMR).

In a statement on Tuesday, the company said it has launched a high-rise tower, Wembley-24, in Majiwada, Thane comprising 457 residential flats.

"The Majiwada project is projected to generate total realizations of approximately Rs 800 crore over the next four years on a pro-rata basis, with the project's cost estimated at Rs 300 crore, as the land is owned by the company," it said.

On the launch day, the company witnessed an overwhelming response with pre-sales of around 150 units.

"The robust pre-bookings and overwhelming interest on launch day underscore the market's demand for high-quality residential spaces," company's Chairman and MD Yogendra D Patel said.

Bharat Agri Fert & Realty, established in 1962, is into three business verticals – fertilizers, realty, and hospitality. It is listed on stock exchanges.

In the fertilizer business, the company is temporarily leasing out its assets to address supply chain disruptions, fostering potential future manufacturing operations.

The real estate segment focuses on a landmark project in Thane city while the hospitality vertical features Anchaviyo Resort.