Ajmera Realty & Infra India Limited — Updates, 17-03-2025: Press Release

Ajmera Realty & Infra India Limited (ARIIL) has been appointed as the developer for the redevelopment of Ascot Co-operative Housing Society Limited in Shastri Nagar, Andheri West, Mumbai. Covering a land area of 2,319 sq. mt., the project is expected to generate an estimated sales revenue of ₹320 crore, contributing approximately 71,300 sq. ft. of carpet area.

This initiative is part of ARIIL's strategy to diversify its portfolio, focusing on asset-light acquisitions and redevelopment projects. The location benefits from strong brand recognition due to the Ajmera Group's historical presence in the area and will enhance access to social, educational, healthcare, and commercial amenities. This project marks the addition of four new ventures, bringing the total Gross Development Value (GDV) to around ₹2,770 crore, propelling the company towards its fiscal targets.

The redevelopment aligns with the rising demand for modern urban living and reinforces Ajmera Realty's commitment to enhancing residential offerings in high-potential micro-markets. Investors should watch closely as this project positions the company well for long-term growth in the competitive Mumbai real estate market.