The investment commitment comes at a time when the sector is in a revival mode and the company has already witnessed higher demand and growing sales.
Ashiana Housing, pioneers of senior housing concept in India, has signed a memorandum of understanding with the Government of Rajasthan for an investment of Rs 420 crore over the next three years in the city of Bhiwadi for development of residential projects.
The MoU was signed at an investment summit in the Alwar district of Rajasthan. Shakuntala Rawat, Minister Industries, and Col Shantanu Haldule, Vice President, Ashiana Housing Ltd Bhiwadi, exchanged the MoU on the occasion.
Commenting on the development, Col. Shantanu Haldule, Vice President-Bhiwadi & Neemrana, Ashiana Housing, said, “This is a landmark moment for Ashiana as it gives us the opportunity to contribute more towards the development of the planned city of Bhiwadi and also towards providing people with quality housing, care and more convenient lives.”
Col. Haldule further added that, “The investment would help enhance the face of the city with high-end technological solutions for convenient lives of our people.”
The MoU further consolidates Ashiana’s commitment towards investment and development of new projects and betterment of lives even in the Tier 2 cities.
The company has a strong presence in the NCR region and the state of Rajasthan. In the planned city of Bhiwadi, which comes within the ambit of NCR, Ashiana already has marked a strong presence in the segments of comfort homes, senior living spaces and kid-centric homes.
The investment commitment comes at a time when the sector is in a revival mode and the company has already witnessed higher demand and growing sales.
Recently, Ashiana Housing reported a 7% increase in its sales bookings for FY 2021-22 at Rs 573.25 crore. Sales bookings in the financial year 2020-21 stood at Rs 534.68 crore, according to a regulatory filing.
With over 41 years of presence in the real estate sector, and 18 years of experience in the senior living space, the company has delivered over 23 million square feet of property and is managing and maintaining over 19 million square feet of property.
