Realty firm Ashiana Housing will invest Rs 1,000 crore this fiscal to buy land parcels for development of housing projects as part of its expansion plan, a top company official said.
Listed entity Ashiana Housing is one of the leading real estate developers in the country. It specialises in building homes for elderly people.
In an interview with PTI, Ashiana Housing MD Vishal Gupta said housing demand continues to be strong despite global uncertainties.
To tap this demand, he said the company is expanding business across major markets including Delhi-NCR, Rajasthan, Maharashtra and Tamil Nadu.
On land acquisition, Gupta said the company is continuously looking for land to develop regular group housing and also senior living projects.
“We will be investing around Rs 1,000 crore this fiscal on land acquisition,” he said, adding that the company has enough cash to fund the investment.
The land acquisition would be outright as well as joint development with landowners.
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