Arihant Superstructures Acquires Land In Taloja For Affordable Project

New Delhi: Realty firm Arihant Superstructures Ltd (ASL) has acquired 2 acre plot in Taloja (near Mumbai) and plans to launch an affordable housing project there in third quarter (Q3) if the current fiscal.

ASL, which primarily has projects in Joghpur (Rajasthan) and Mumbai Metropolitan Region (MMR), has bought this land parcel close to one its existing housing projects and the project will be launched in the October-December quarter of the current financial year, it said in an investors’ presentation.

ASL sold 1.38 lakh sq ft of space in the second quarter of the ongoing fiscal in Navi-Mumbai-MMR and the sales value of these properties is Rs 60 crore.  It sold 39.6 thousand sq ft of space in Jodhpur in second quarter of the ongoing fiscal in Jodhpur with a sales value of Rs 9.3 crore. Thus the total space sold in second quarter was 1.78 lakh sq ft and the total sales value was Rs 69.4 crore.

The company reported a net loss of Rs 1.4 crore in the second quarter of the ongoing fiscal on a consolidated basis. The total revenues of the company stood at Rs 53.1 crore in the second quarter of the current financial year on a consolidated basis.

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