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Ajmera Realty and Infra India Limited (ARIIL) achieved their 5x growth goal by undertaking the redevelopment project at Yogi Nagar, a location in Borivali West, Mumbai. This redevelopment project involves four societies within the township and is expected to yield sales of approximately Rs. 330 crore.
Also Read | Ajmera Realty’s June quarter pre-sales fall 44 per cent YoY, collections down 47 per cent
The development will primarily feature 2 and 3 BHK residential apartments, covering an estimated carpet area of 1,07,000 sq. ft. ARIIL aims to create a modern and sustainable living space that will redefine the landscape of the area. The project, set to launch in the first half of 2024, is anticipated to be completed within three and a half years. The project’s accessibility to new metro lines and major transport hubs enhances its attractiveness to professionals and businesses alike.
However, the shares were down by 2.13 per cent to Rs2. 378.95 at 12.30 p.m. on the BSE.
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