NEW DELHI: Ajmera Realty & Infra India (ARIIL) has acquired 1,341.1 sq meters land parcel in Ghatkopar East, Mumbai.
This acquisition was through a competitive bidding process from Karamshi Jethabhai Somaiya Trust at a cost of Rs 51 crore.
Dhaval Ajmera, director of the company said, “Ghatkopar, as a micro-market, has become an attractive destination for homebuyers in the Eastern suburbs, and this outright acquisition, backed by our robust cash flow position, further strengthens our growth strategy.”
With the earnest money paid and memorandum of understanding (MoU) in place, the project is expected to yield a carpet area of about 44,000 sq ft, with an estimated gross development value (GDV) of Rs 175 crore.
The company reported sales value of Rs 270 crore while collections increased by 10 per cent year-on-year to Rs 167 crore during the quarter ended December 31, 2024. Its sales area grew by 59 per cent year-on-year to 1,65,116 sq ft in Q3 FY25.
