AHCL announced during market hours today, 11 June 2007, that the director, town & country planning, Chandigarh, Haryana, had issued licence for development of approximately 100 acres of residential project of the company at sector 19, Rewari, Haryana. [Ansal Housing is different from Ansal Properties and Infrastructure Ltd]
The integrated township is strategically located close to the Delhi-Jaipur highway. It has an excellent business potential and is in the neighborhood of Gurgaon, one of the prominent IT cities of India. The integrated township is to be named Ansal Town.
The Ansal Town will have in-house amenities like schools, hospitals, clubs and multiplexes. The company will undertake all the development and marketing work of the project. The project is expected to have a turnover of about Rs 150 crore over the next 2-3 years with sizeable profit, the company said.
AHCL’s net profit soared 94.8% to Rs 13.07 crore in Q3 December 2006 compared to Rs 6.71 crore in Q3 December 2005. Sales surged 61.4% to Rs 56.15 crore in Q3 December 2006 (Rs 34.78 crore).
Real-estate development is the main business of AHCL,with focus on low and medium range residential property. It concentrates on the area in and around Delhi with special focus on Noida and Ghaziabad regions of UP.