Arihant Superstructures’ board approves plan to promote seven acres of land in Jodhpur

MUMBAI: Realty developer Arihant Superstructures’ board of administrators has permitted the plan to promote two land parcels totaling practically 7 acres in Jodhpur out of its whole 25-acre land holding within the metropolis.

Of the 2 plots, the corporate shall be promoting 6.Four acre at its venture Arihant Akarshan in Chokha locality of the town, whereas over half an acre shall be from the venture Arihant Adita on Gangana Street, the corporate stated in a regulatory submitting.

These plots shall be offered by way of a public tender and bidding course of. The corporate is planning to make the most of the proceeds of this transaction to repay a part of unsecured debt and for extra working capital for its Jodhpur enterprise.

The corporate’s board has constituted a sub-committee consisting of an impartial director Virendra Mittal, whole-time director Nimesh Shah and its chief monetary officer Deepak Lohiya. This sub-committee has submitted its report back to the board.

On Friday, shares of Arihant Superstructures closed at Rs 23.80, up 4.8% over earlier shut.