Ansal to develop over 500 villas; expects Rs 400 cr turnover

Real estate firm Ansal Housing & Construction on Friday said it would develop over 500 luxury housing units in Maharashtra, which could fetch the company a revenue to the tune of Rs 400 crore.

Real estate firm Ansal Housing & Construction on Friday said it would develop over 500 luxury housing units in Maharashtra, which could fetch the company a revenue to the tune of Rs 400 crore.

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The company has already launched the 225-acre project --Ansals Suvarna Vilas -- at Shahpur in Thane, near Mumbai.

"In all Ansal Suvarna Vilas will have over 500 Thai style villas with an expected turnover of Rs 400 crore," Ansal Housing & Construction said in a filing to the Bombay Stock Exchange (BSE).

The project would be developed in phases with the first phase of 25 acres expected to complete within two years, the filing added.

Shares of Ansal Housing & Construction on Friday closed at Rs 57.75 on the BSE, up 0.52 from the previous close.