Ashiana Housing has signed a memorandum of understanding with the Rajasthan government for a Rs 420 crore investment in residential projects in Bhiwadi over the next three years.
The MoU was signed at an investment summit in Rajasthan’s Alwar district. The MoU was signed by Shakuntala Rawat, Minister of Industries, and Col Shantanu Haldule, VP, Ashiana Housing, Bhiwadi & Neemrana.
“The investment would help enhance the face of the city with high-end technological solutions for our people’s convenience,” Haldule said.
The MoU reaffirms Ashiana’s commitment to investing in and developing new projects, as well as improving people’s lives in tier 2 cities.
The company is well-known in the Delhi-NCR region as well as Rajasthan. Ashiana already has a strong presence in the planned city of Bhiwadi, which is part of the NCR, in the segments of comfort homes, senior living spaces, and kid-centric homes.
Ashiana Housing recently reported a 7% increase in sales bookings for FY 2021-22, totaling Rs 573.25 crore. According to a regulatory filing, sales bookings for the financial year 2020-21 totaled Rs 534.68 crore.