Ashiana Housing strengthens on acquiring land in Rajasthan

24 May 2012

Ashiana Housing is currently trading at Rs. 166.00, up by 2.95 points or 1.81% from its previous closing of Rs. 163.05 on the BSE.

The scrip opened at Rs. 161.60 and has touched a high and low of Rs. 166.00 and Rs. 161.60 respectively.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 183.50 on 12-Mar-2012 and a 52 week low of Rs. 113.20 on 25-May-2011.

Last one week high and low of the scrip stood at Rs. 166.80 and Rs. 161.50 respectively. The current market cap of the company is Rs. 308.93 crore.

The promoters holding in the company stood at 66.12% while Institutions and Non-Institutions held 0.37% and 33.50% respectively.

Ashiana Housing has acquired a land parcel measuring 4154.73 sq mt in Vasundhra Nagar, Bhiwadi in Rajasthan. The land is acquired in an auction conducted by Urban Improvement Trust (UIT), Bhiwadi.

The land will be utilized to develop a residential project comprising of 4 & 5 BHK flats with retail units on the ground floor. The total saleable area will be approximately 120,000 sq. ft. The company plans to receive the requisite approvals in the next three months and start development thereafter.

Ashiana Housing is a fast growing real estate developer. It has presence in group housing, retirement resorts, retail, hotels and facilities management. It has pioneered the concept of retirement resorts in India.

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