This small-cap infrastructure company with revenue potential of Rs 2,081.8 crore announced across 118 Acres; stock price soared 11 per cent in a day!

This small-cap infrastructure company with revenue potential of Rs 2,081.8 crore announced across 118 Acres; stock price soared 11 per cent in a day!

Prajwal Wakhare
/ Categories: Trending, Mindshare

Stock opened at Rs 275.9 and reached a high of Rs 324.9, displaying volatility with a low of Rs 265. The closing market price (CMP) settled at Rs 306, showcasing a notable surge of 11.72 per cent from the previous day's closing of Rs 273.

Arihant Superstructures Ltd witnessed a dynamic intraday trading session as its stock opened at Rs 275.9 and reached a high of Rs 324.9, displaying volatility with a low of Rs 265.7. The closing market price (CMP) settled at Rs 306, showcasing a notable surge of 11.72 per cent from the previous day's closing of Rs 273.9. The company's market capitalization stands at Rs 1264.97 crore.

Arihant Superstructures Ltd (ASL), a big real estate company in Mumbai, just announced a new project. It's a low-rise township that will cover 118 acres near Panvel, Navi Mumbai. This area is part of the Navi Mumbai Airport region, and it's called "Mumbai 3.0." The location is about a 25-minute drive from the upcoming Navi Mumbai International Airport and the MTHL Sea Link, which connects to South Mumbai. The project involves acquiring land both outright and through a Joint-Venture transaction. The total development potential is expected to be around 2 million square feet.

The property is super close to the Chowk Railway Station, less than 500 meters away. This station is a crucial part of the developing Panvel-Karjat Railway Corridor. Navi Mumbai-MMR (Mumbai Metropolitan Region) is one of the fastest-growing real estate markets in India. It's booming with infrastructure projects like MTHL, Navi Mumbai International Airport, SEZs, Industrial Parks, Corporate Parks. All these projects are anticipated to create around 1 million jobs, leading to a high demand for residential units.

Its total estimated revenue potential from ongoing projects is Rs 2,081.8 crore as on September 2023.

Management Commentary

Commenting on this development, Mr. Ashok Chhajer, CMD, Arihant Superstructures Ltd said: “Our diversification into horizontal developments over the last 1 year is going to increase our offering base across MMR. With key infrastructure projects like MTHL nearing completion, the City of Navi Mumbai is poised for exponential growth. With this acquisition the company will enhance its portfolio into Horizontal Developments which is the new trend in Residential format. With this our total land bank set to cross 335+ acres and our estimate projects surrounding the Navi Mumbai International Airport & MTHL would total to a gross development potential of 12 million sq. ft. The due-diligence is underway for the new acquisition and we expect to complete the transaction within 6 months.”

Arihant Superstructures is a real estate company focusing on the affordable housing segment with a significant presence in the MMR region and Rajasthan. It has delivered 9,500+ homes measuring 8 Mn Sqft across 59 projects over the past 2 decades.

Disclaimer: The article is for informational purposes only and not investment advice.

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