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Poddar Habitat Private Ltd, subsidiary of Poddar Housing and Development , has executed an agreement to acquire 102.5 acres of land situated at Mahalunge, Chakan, Pune, along with trunk infrastructure facilities. The agreement is on deferred payment terms from Autoline Industrial Parks (subsidiary of Autoline Industries). The company is proposing to build an affordable housing project on the site, having a potential development of more than eight million square feet over a period of eight to 10 years. With this acquisition, the company continues to expand its geographical presence in PMRDA cities in addition to its presence in MMRDA. Shares of Poddar Housing and Development jumped 6.6 per cent at ₹647.95 on the BSE, while those of Autoline Industries surged 8.5 per cent at ₹70.55.
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