Jaipur: Ashiana Housing launches two luxury projects with tentative investment of over Rs 200 crore

The realty firm stated that the project is designed to offer 144 luxury apartments, and its development will be executed in phases

Ashiana Housing has 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”.

In the villa project, the company will offer 56 villas while the other project will offer 144 luxury apartments.

“The company has launched Phase 1 of “Ashiana Nitara”, a premium homes project situated at Village Bhankrota Kalan, Tehsil Sanganer, Jaipur. Phase 1 of “Ashiana Nitara” project comprises of 56 Villas with total saleable area of 1.27 lakhs square foot (sqft),” the company said in a regulatory filing last month.

Ashiana Nitara is spread over an area of 8.09 acres and will offer villas in 3 and 4 BHK combinations. The company said that out of the 56 villas launched, 14 villas of the project have been booked having sale value of Rs. 22.90 crores and saleable area of 0.32 lakhs sqft.

Similarly, ‘Ashiana One44’ will be developed on 3.5 acres of land with the average size of the residential units within the project is estimated to be around 2,700 square feet, the company, which has a presence in the senior and assisted living segments, said.

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The realty firm stated that the project is designed to offer 144 luxury apartments, and its development will be executed in phases. Phase 1 and 1A are expected to be completed by December 2028.

Ankur Gupta, Joint Managing Director of Ashiana Housing Ltd, had earlier told Moneycontrol that the tentative investment in both these projects is roughly over Rs 200 crore. The price of one flat is likely to be around Rs 2 crore in Ashiana One44 project, Gupta had said.

Amid surge in demand for residential segment, Ashiana Housing has reported a three-fold jump in its net profit which stood at Rs 27.79 crore in December 2023, up 207.07 percent from Rs 9.05 crore in December 2022.
The Delhi headquartered company has reported net sales at Rs 184.47 crore in December 2023 up 41.98 percent from Rs 129.93 crore in December 2022.
The company’s EBITDA stood at Rs 37.49 crore in December 2023 up 139.55 percent from Rs 15.65 crore in December 2022.