Ashiana Housing surges on plan to expand retirement housing segment

Ashiana Housing is currently trading at Rs. 99.80, up by 2.60 points or 2.67% from its previous closing of Rs. 97.20 on the BSE. The scrip opened at Rs. 99.80 and has touched a high and low of Rs. 99.80 and Rs. 98.00 respectively. So far 1 shares were traded on the counter. The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 107.85 on 15-Apr-2014 and a 52 week low of Rs. 38.00 on 05-Aug-2013. Last one week high and low of the scrip stood at Rs. 100.90 and Rs. 96.00 respectively. The promoters holding in the company stood at 67.14% while Institutions and Non-Institutions held 2.07% and 30.79% respectively. Ashiana Housing is planning to expand its retirement housing segment in three more cities in next three years on the back of growing demand of housing for senior citizens. The company already has three senior citizen living projects in its portfolio in three cities including Jaipur, Bhiwadi (Delhi NCR) and Lavasa in Pune. Moreover, it is now planning to set up one more in Bhiwadi and one each in Kolkata and Chennai. The company is planning to sell around 25 lakh sqft of area this year and it is expecting to sell nearly 30-35 per cent of the total area in this segment. Ashiana Housing is a fast growing real estate developer with its head office in New Delhi, India. The company has presence in group housing, active senior living, retail, hotels and facilities management.