Ajmera Realty -; Infra India targets sales value of Rs330 crore from its real estate projects in Bengaluru

8 Apr 2022 , 01:58 PM

Mumbai based listed realty developer Ajmera Realty and Infra India Ltd. (ARIIL) today announced that it has executed its commercial and residential Bengaluru Nucleus project which has an estimated sales value of Rs330 crore, part of the main periphery project in the Electronic city phase 2. In a bid to expand its housing and commercial portfolio, ARIIL strengthens its presence in south market. The entire project is funded by Internal Accruals & Debt with a saleable area of 5, 57,870 sq. ft.

With a vision to build the future, the strength of Nucleus lies in vigour of its walls and the sturdiness of its foundation. Right from design aesthetics to the formidable materials, this project echoes future anticipation. The company is strategically planning to move from rental based cash flow model to an outright sale model for the commercial project, which shall unlock its value upfront and contribute sharply towards the revenue and cash flow for the company.

• Total number of units: An office building contains 8 floors and has 1 office on each floor with an approximate sale price of the project Rs8000+ per sq ft.
• OC Date: Expected by May 2022

Spread across 5 acres of bountiful land, this space aims to revolutionise living conditions. Nucleus offers freedom of space and the joy of well-maintained architectural beauty.

Dhaval Ajmera, Director of Ajmera Realty and Infra India Ltd said, “The business objective of Ajmera Realty is to grow exponentially in the year FY’23. The projects in Bengaluru will have similar growth impetus to our home city, Mumbai. Bengaluru has been at the forefront of receiving institutional capital for both commercial and residential asset classes and has witnessed strong recovery in office occupancy and home buyer activity in the last quarter. Bengaluru becomes an important growth market for Ajmera.”

At around 1:57 PM, Ajmera Realty & Infra India was trading at Rs374.95 apiece down by Rs3.15 or 0.83% on the BSE.