Ashiana Housing partners with IFC for residential projects

Apurva Joshi
/ Categories: Trending

Ashiana Housing Limited has entered into an agreement with International Finance Corporation (IFC) which is a part of World Bank Group to co-invest in upcoming affordable and middle-income residential projects which will include senior-living projects. The total investment will be of Rs. 375 crores, of which 60 per cent, Rs. 225 crores will be contributed by Ashiana Housing and the remaining 40 per cent, Rs. 150 crores will be provided by IFC on project to project basis. The investment of IFC will be in the form of non-convertible debentures for some identified projects. 

Earlier in February, Ashiana Housing announced its plan of investing Rs. 500 crores to develop kid-centric projects in Jaipur and Gurgaon over the next five years. The company has already invested Rs 500 crores and is looking forward in spending Rs. 500 crores more for these projects. 

Thus, Ashiana Housing will be seen to cover all categories of projects including affordable housing, senior-living and kid-centric projects. As of the end of December 2017, as stated by the company, it has around 79.89 lakhs sq.ft. of land bank available for future development with a saleable area of around 64.63 lakhs sq.ft. for comfort homes and senior living projects. 

The company’s stock has recorded 52-week high of Rs. 250.35 and 52-week low of Rs. 151. The 52-week low was hit on Wednesday.


Rate this article:
5.0

Leave a comment

Add comment

DSIJ MINDSHARE

Mkt Commentary28-Mar, 2024

Mindshare29-Mar, 2024

Multibaggers28-Mar, 2024

Interviews28-Mar, 2024

Multibaggers28-Mar, 2024

Knowledge

General26-Mar, 2024

MF25-Mar, 2024

General18-Mar, 2024

DALAL STREET INVESTMENT JOURNAL - DEMOCRATIZING WEALTH CREATION

Principal Officer: Mr. Shashikant Singh,
Email: principalofficer@dsij.in
Tel: (+91)-20-66663800

Compliance Officer: Mr. Rajesh Padode
Email: complianceofficer@dsij.in
Tel: (+91)-20-66663800

Grievance Officer: Mr. Rajesh Padode
Email: service@dsij.in
Tel: (+91)-20-66663800

Corresponding SEBI regional/local office address- SEBI Bhavan BKC, Plot No.C4-A, 'G' Block, Bandra-Kurla Complex, Bandra (East), Mumbai - 400051, Maharashtra.
Tel: +91-22-26449000 / 40459000 | Fax : +91-22-26449019-22 / 40459019-22 | E-mail : sebi@sebi.gov.in | Toll Free Investor Helpline: 1800 22 7575 | SEBI SCORES | SMARTODR