Arihant Superstructures Ltd Share Price – NSE  / BSE

Realty, Small Cap

Arihant Superstructures announced the acquisition of additional 11 acres of Land adjoining to “World Villas” located Off Old-Mumbai-Pune Highway, Opposite to ND Film Studios at Chowk-Karjat Road.

The Property would be used for expanding the existing Layout of the Residential part of the project by adding more Villas. This acquisition would expand the Development to 88 acres at a location which falls under the Navi Mumbai Airport region of “Mumbai 3.0” and is a 30 minute drive from the upcoming Navi Mumbai International Airport & MTHL Sea Link which connects to South Mumbai.

Navi Mumbai-MMR is one of the fastest growing Real Estate markets in India with multi-fold growth in infrastructure projects such as MTHL, Navi Mumbai International Airport, SEZs, Industrial Parks and Corporate Parks which are expected to add 1 million jobs over the next decade, leading to growing requirement for residential units.

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Arihant Superstructures has allotted 25,00,000 Secured, Unlisted, Redeemable, Non-Convertible Debentures (NCDs) to Indian Real Estate Investment Fund totally aggregating to Rs. 25 crorehaving face value of Rs. 100 each on Private Placement Basis.

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Net profit of Arihant Superstructures declined 0.56% to Rs 15.97 crore in the quarter ended September 2024 as against Rs 16.06 crore during the previous quarter ended September 2023. Sales rose 2.65% to Rs 111.80 crore in the quarter ended September 2024 as against Rs 108.91 crore during the previous quarter ended September 2023.

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The Board of Arihant Superstructures at its meeting held on 26 October 2024 has approved the investment of Rs 25 crore by way of subscription to right issue of its wholly owned subsidiary, Dwellcons.

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