The company added that a group housing project is planned on this land with potential saleable area of approximately 21,00,000 square feet, with a floor space index of approximately 17,00,000 square feet.

Ashiana Housing is a mid-income housing developer with primary focus on kid centric homes, senior living, care homes (i.e. assisted living) and also comfort homes. In recent times, the company has expanded its reach from group housing to facility management, retail and hotels, as well as maintenance and resale of property after possession.

The company reported a consolidated net profit of Rs 12.86 crore in Q4 FY21 as against a net loss of Rs 7.11 crore in Q4 FY20. Net sales declined 0.23% YoY to Rs 73.33 crore during the quarter.

The scrip rose 1.37% to Rs 140.15 on the BSE. In the past one month, the stock has added 21.61% while the benchmark Sensex has gained 5.70% during the same period.