This agreement involves acquiring the land parcel on a perpetual lease basis for the development of the 'senior living' project. The said transaction is not a related party transaction.
Ashiana Housing is engaged in real estate activities with own or leased property. The company's projects include comfort homes, senior living, and kid-centric homes.
The company reported a consolidated net profit of Rs 27.80 crore in Q3 FY24, steeply higher than the Rs 9.05 crore posted in Q3 FY23. Net sales jumped 44.24% year on year (YoY) to Rs 184.12 crore in the quarter ended 31 December 2023.
Shares of Ashiana Housing shed 0.93% to Rs 277.95 on the BSE.