Ashiana Housing Limited has launched the third phase of its Ashiana Ekansh project in Jaipur, Rajasthan, adding 112 new units, with 92 sold on the first day. Located in Mansarovar Extension, Ashiana Ekansh offers 560 units in 2, 3, and 4 BHK configurations, with prices starting at INR 67 lakhs. The phase is expected to be completed by December 2028. Ashiana Housing, with 11 ongoing projects in seven cities, reported a 160.59% year-on-year increase in net sales and a 67.44% rise in net profit for March 2024. The company continues to meet the growing demand for residential properties in India.
Ashiana Housing Limited has started the third phase of its premium residential project, Ashiana Ekansh, in Jaipur, Rajasthan. This phase introduces 112 new units, with 92 units sold on the first day, generating sales worth INR 82 crores.
Ashiana Ekansh is located in the Mansarovar Extension area and spans 8.6 acres. The project offers 560 residential units across stilt-plus-14 floors, with apartments available in 2, 3, and 4 BHK configurations. Prices start at around INR 67 lakhs for a 2BHK flat, while a 3BHK unit costs approximately INR 1.23 crore. The apartments range in size from 1,306 to 2,411 square feet.
Ankur Gupta, Joint Managing Director of Ashiana Housing, highlighted the project's appeal, emphasising its mix of apartment configurations to meet diverse needs and its excellent location with good connectivity and access to key infrastructure. Gupta mentioned that the project aims to meet current demand while anticipating future urban living trends in Jaipur. The total investment for this phase is expected to be around INR 80 crores, with projected overall revenue of INR 290 crores. The third phase is likely to be completed by December 2028.
In February 2023, Ashiana Housing launched the second phase of Ashiana Ekansh. Additionally, the company introduced two luxury residential projects in Jaipur earlier this year, investing over INR 200 crores. These projects include Ashiana Nitara, a premium villa project, and Ashiana One44, a high-end luxury apartment project.
Ashiana Housing is active in seven cities, including Chennai, Pune, Gurugram, Jaipur, Jodhpur, Jamshedpur, and Bhiwadi, with 11 ongoing projects. The company has delivered over 23 million square feet of residential space through its various projects.
The demand for residential properties has surged, leading to significant growth for Ashiana Housing. The company reported a 160.59 percent year-on-year increase in net sales, reaching INR 288.57 crores in March 2024, up from INR 110.59 crores in March 2023. The company's quarterly net profit also rose by 67.44 percent, reaching INR 17.38 crores in March 2024, compared to INR 10.38 crores in March 2023. The company's EBITDA stood at INR 27.58 crores in March 2024, a 96.3 percent increase from INR 14.05 crores in March 2023.
This continued growth and the successful launch of new phases and projects highlight Ashiana Housing's strong position in the real estate market and its commitment to delivering quality residential options in key cities.
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