Arihant Superstructures acquires 25 acres land in MMR; stock climbs over 2%

The plan is for a low-rise development with 200 bungalows.

November 24, 2022 10:43 IST | India Infoline News Service
Arihant Superstructures Limited informed that the company has made a direct purchase of 25 acres of land at Chowk, off the Mumbai-Pune highway. Hiranandani Communities, Wadhwa Developers, and Godrej Properties have major township projects along this stretch.

The plan is for a low-rise development with 200 bungalows. The project will feature a one-of-a-kind design concept and 2-in-1 living space for the first and second homes.

Ashok Chhajer, Chairman and Managing Director of Arihant Superstructures Limited, commented on the development, saying, "Mumbai is witnessing Delhi-style bungalow living and this is possible due to the excellent infrastructure in place and under development in Navi Mumbai.

After the completion of the Mumbai Trans Harbour Link (MTHL) connecting Mumbai and Navi Mumbai, the project will have the fastest travel time of one hour from South Mumbai."

At around 10.48 AM, Arihant Superstructures was trading at Rs222.65 up by 2.11% from its previous closing of Rs218.05 on the BSE. The scrip opened at Rs223.35 and touched intraday high and low of Rs225.10 and Rs218.10 respectively.

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