Bharat Agri Fert & Realty eyes Rs 800 cr revenue from MMR housing project

Bharat Agri Fert & Realty Ltd expects Rs 800 cr revenue from its new housing project in Mumbai Metropolitan Region (MMR).

In a statement on Tuesday, the company said it has launched a high-rise tower, Wembley-24 in Majiwada, Thane comprising 457 residential flats.

"The Majiwada project is projected to generate total realisations of approximately Rs 800 cr over the next four years on a pro-rata basis, with the project's cost estimated at approximately Rs 300 cr, as the land is owned by the company," it said.

On the launch day, the company witnessed an overwhelming response with pre-sales of around 150 units.

"The robust pre-bookings and overwhelming interest on launch day underscore the market's demand for high-quality residential spaces," Yogendra D Patel, Chairman and Managing Director of Bharat Agri Fert & Realty, said.

Bharat Agri Fert & Realty Ltd, established in 1962, is into three business verticals fertilisers, realty and hospitality. It is listed on stock exchanges.

In the fertiliser business, the company is temporarily leasing out its assets to address supply chain disruptions, fostering potential future manufacturing operations.

The real estate segment focuses on a landmark project in Thane City while the hospitality vertical features Anchaviyo Resort.