New Delhi, Sept 30: Bharat Agri Fert & Realty Ltd on Monday announced the completion of plinth work for a high-rise project Wembely-24 in Majiwada, Thane, which is expected to generate about Rs 800 crore in revenue in the next 4 years.
This milestone marks a significant step forward in the development of the project, which will offer 457 residential flats of 2/3 BHK, a company statement said.
Bharat Agri Fert & Realty Ltd has successfully completed the plinth work for its iconic high-rise project Wembely-24 in Majiwada, Thane, according to a statement.
The Majiwada Project, comprising 457 flats, is expected to generate approximately Rs 800 crore in revenue over the next four years on a pro-rata basis, it stated.
The cost of the project is estimated to be around Rs 300 crore, given that the company owns the land.
Even before the official launch, the project has garnered significant interest, with pre-bookings for 25 flats already confirmed.
On the launch day, the company received inquiries for approximately 150 flats, demonstrating strong demand for the project.
To accelerate sales, Bharat Agri Fert & Realty Limited has entered into a marketing partnership with a reputable company.
This partnership will facilitate the sale of 200 residential flats (2/3 BHK) over the next 15 months, starting from October 1, 2024.
The company anticipates generating revenue of Rs 350 to 400 crore on a pro-rata basis during this period.
Yogendra D Patel, Chairman and Managing Director of Bharat Agri Fert & Realty said, in the statement, “The enthusiastic response from customers underscores the strong demand for quality housing in the market. We anticipate further momentum in bookings, setting the stage for strong revenues and profitability in the quarters ahead”.
Bharat Agri Fert & Realty, established in 1962, is a pioneering Indian company, initially recognised for being the first to manufacture NPK fertilisers through “Project Finance” from NRI investors.
With three key business verticals – Fertilisers, Realty, and Hospitality – the company is strategically navigating challenges and pursuing growth opportunities. (PTI)
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