Realty firm Ashiana Housing would be expanding its operations to new cities including Chennai, Kolkata and is considering Pune, joint managing director Ankur Gupta told NDTV.
"Plan to look at more cities where we can expand and also look at the existing cities and make sure that we do enough work in these existing cities and build more and more middle income housing," he said. (Watch Video)
The Delhi-based firm which has its presence in Jamshedpur, Bhiwadi, Jaipur, Neemrana, Jodhpur, Hallol in Gujarat and in Lavasa, near Mumbai, says the the bulk of its sales are between the January to March period and expects the next three montsh to be fruitful.
Bhiwadi and Jaipur are the most profitable locations for the company, Mr Gupta said. The average cost of construction per sq feet for the company ranges from Rs 1200-1400 while the average sale price per square feet is around Rs 3,000.
Bulk of the company's business is in the range Rs 30-45 lakh, averaging about Rs 35 lakh per housing at locations like Bhiwadi, Neemrana, Jaipur, Jamshedpur and Jodhpur. Hallol properties are in the lower range of Rs 20-30 lakh, while Lavasa is on the higher range between from Rs 40 lakh to Rs 70 lakh.
"Our focus is that there is a dearth of high quality middle income housing- how do you produce high quality middle income housing and make sure that you deliver quality to your customers and we also do senior living with it so those are the two focus areas," Mr Gupta said.
The Ashiana stock ended 8.44 per cent up at Rs 210.05 on the BSE, outperforming the broader Sensex and the Nifty.