Bharat Agri Fert & Realty targets Rs 800 crore turnover from new housing project in MMR
Established in 1962, Bharat Agri Fert & Realty Ltd operates in three verticals: Fertilizers, Real Estate and Hospitality | Representative Image
Bharat Agri Fert & Realty Ltd expects revenue of Rs 800 crore from its new housing project in the Mumbai Metropolitan Region (MMR).
In a statement on Tuesday, the company said it has launched a high-rise tower, Wembley-24, in Majiwada, Thane, consisting of 457 residential apartments.
“The Majiwada project is expected to generate total revenue of around Rs 800 crore over the next four years on a pro-rata basis, with the project cost estimated at around Rs 300 crore as the land is owned by the company,” the report said.
On the day of the launch, the company received an overwhelming response with around 150 units pre-sold.
“The large amount of pre-bookings and overwhelming interest on the launch day underscores the market demand for premium living spaces,” said Yogendra D Patel, Chairman and Managing Director, Bharat Agri Fert & Realty.
Bharat Agri Fert & Realty Ltd, established in 1962, operates in three verticals – fertilizers, real estate and hospitality. It is listed on the stock exchange.
In the fertilizer sector, the company temporarily leases its assets to mitigate supply chain disruptions and thus stimulate potential future production activities.
The real estate segment focuses on a landmark project in Thane City, while the hospitality segment consists of Anchaviyo Resort.
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First print: Jul 16, 2024 | 4:08 PM IST