Ajmera Realty has bagged a redevelopment project in Andheri West, Mumbai, with a gross development value of ₹320 crore. The project is the redevelopment of Ascot Co-Operative Housing Society Ltd.sited on a land area of 2,319 sq m.
The project will be developed in a single phase and has a carpet area of approximately 71,300 sq ft. Ajmera Realty estimates sales revenue from the project to be ₹320 crore. The group has focused on asset-light acquisitions, JV/JDA models and redevelopment-led growth. This is the addition of four new projects aggregating a total development value of ₹2,770 crore.
In the National Stock Exchange, shares of Ajmera Realty is currently trading at ₹812.55 which is a 2.44% gain than the previous close. The stock has gained a total of 16% in the last one year, and 1% in the last one month.
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