Arihant Superstructures expects 80% jump in revenues this fiscal

MUMBAI: Realty player Arihant Superstructures is expecting nearly 80 per cent increase in revenues to Rs 125 crore in the current financial year on the back of growing demand for affordable housing.

Company's Chairman and MD Ashok Chhajer said, “Demand for affordable housing is growing steadily over the past few years. Since our focus is on this segment, we expect our revenues to grow 80 per cent to Rs 125 crore in FY2012-13.”

During the financial year 2011-12, the company had reported revenues of Rs 65 crore.

Till now, the company has constructed and delivered 2.07 million sq ft through 34 residential projects across Navi Mumbai and Mumbai.

In the ongoing fiscal, the company plans to launch five projects, with a total area of 8.11 million sq ft, in Thane, Navi Mumbai, Panvel and Jodhpur.

The company is also planning to develop nearly 12.5 million sq ft of area over the next six to seven years.