Listed real estate developer, Ashiana Housing Limited has launched the third phase of its premium residential project, Ashiana Ekansh, in Jaipur in Rajasthan.
Ashiana Ekansh is spread across 8.6 acres in Mansarovar Extension area of Jaipur and it offers 560 premium residential units in stilt-plus-14 floors. Apartments are available in 2, 3, and 4 BHK configurations.
In the third phase of the project, the Ashiana Housing has launched 112 units out of which 92 were sold on the first day, resulting in sales of Rs 82 crore, the company executives said.
Also Read: Ashiana Housing to launch 2 luxury housing, 2 senior living projects next year
The ticket price for a 2BHK flat is around 67 lakhs while the 3BHK unit costs around Rs 1.23 crore. The project offers apartments ranging from 1306 sq. ft to 2411 sq. ft area. Total investment for the third phase of the project is likely to be around Rs 80 crore. The overall project revenue expected is around Rs 290 crore, they said.
Ankur Gupta, Joint Managing Director of Ashiana Housing, said: "Our mix of 2BHK, 3BHK+2T, and 3BHK+3T configurations cater to diverse needs, while the location offers excellent connectivity and access to key infrastructure. We are not just meeting current demand but we are anticipating the future of urban living in Jaipur. Ashiana Ekansh represents our commitment to creating homes that offer both luxury and long-term value in one of the city's most promising areas."
The third phase of the project is likely to be completed by December 2028, he said.
Ashiana Housing had launched second phase of the project in February 2023. In February this year, Ashiana Housing, which has a presence in the senior and assisted living segments, had also launched two luxury residential projects in Jaipur at a tentative investment of over Rs 200 crore.
These projects include a premium villa project “Ashiana Nitara” while the other one is high-end luxury apartment project “Ashiana One44”.
Ashiana Housing has around 11 ongoing projects in seven cities including Chennai, Pune, Gurugram, Jaipur, Jodhpur, Jamshedpur and Bhiwadi. The company has constructed and delivered over 23 million square feet though its various projects.
Amid surge in demand for residential segment, Ashiana Housing has reported a year-on-year growth of 160.59 percent in its net sales at Rs 288.57 crore in March 2024 in comparison to Rs 110.59 crore in March 2023.
The company’s quarterly net profit stood at Rs 17.38 crore in March 2024 up 67.44 percent from Rs 10.38 crore in March 2023. Ashiana Housing EBITDA stood at Rs 27.58 crore in March 2024 up 96.3 percent from Rs 14.05 crore in March 2023.
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