Vipul rises on receiving permission for higher FAR under TOD policy for ‘Aarohan’

16 Apr 2018

Vipul is currently trading at Rs. 60.50, up by 0.50 points or 0.83% from its previous closing of Rs. 60.00 on the BSE.

The scrip opened at Rs. 58.15 and has touched a high and low of Rs. 62.90 and Rs. 58.15 respectively. So far 8,755 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 1 has touched a 52 week high of Rs. 102.45 on 22-Sep-2017 and a 52 week low of Rs. 51.85 on 28-Mar-2018.

Last one week high and low of the scrip stood at Rs. 76.00 and Rs. 58.15 respectively. The current market cap of the company is Rs. 725.91 crore.

The promoters holding in the company stood at 63.38%, while Institutions and Non-Institutions held 0.01% and 36.61% respectively.

Vipul has received a significant permission for higher FAR under the TOD policy of the State of Haryana for its flagship project Aarohan, currently under execution at the Golf Course Road in Gurugram. Post this permission, FAR of the project had doubled, entailing a saleable area of approximately 3.2 million square feet across Phase 1 and phase 2 of residential and a commercial tower.

Further, Aarohan project has also received HRERA registration from the Gurugram RERA Authority for its Commercial Tower. Having already launched the RERA registered phase 1 of Aarohan, the company would now be able to launch the Commercial Tower as well.

Vipul is a leading Real Estate Developer in NCR and is developing properties in Gurugram, Ludhiana, Bawal, Bhubaneshwar and Faridabad.

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