Incorporated as a public limited company on 19 May '92, Alacrity Housing commenced business on 2 Jun.'92.
AHL was promoted by Alacrity Foundations Pvt Ltd, Chennai, along with professionals and is engaged in the construction and housing industry, primarily residential complexes. AHL came out with a public issue of equity shares in Nov.'92 to finance the acquisition of business interests of the building division of Alacrity Foundations Pvt Ltd and to meet long-term working capital requirements. The total project cost was Rs 42.57 cr.
It has captured about 25% of the residential flat market in Chennai and has completed 86 projects handing over 1413 dwelling units. AHL is committed to delivery at firm prices and employs a permanent labour force of 800 which moves from site to site. It as 78 projects on hand, valued of Rs 165 cr, with a total area of 2.15 mln sq ft.
AHL also has interests in electronics, health care and education. Its electronics division manufactures and markets voltage protection equipment under the Krykard brand which has a 40% market share in south India.
The company has a business on hand worth Rs 185 cr as on year ended 1999-2000.Of this,projects comprising 3.75 lacs sq.ft and worth about Rs.52 crores have been completed. And new projects worth Rs.48 crores were added in 2001.