Ashiana Housing to invest Rs 500 cr on kid centric projects

Realty firm Ashiana Housing Ltd will invest about Rs 500 crore over the next five years to develop kid-centric projects in Jaipur and Gurgaon.
The national capital-based company, which is known for development of retirement homes, has decided to enter into kid-centric projects in a big way, it's director Varun Gupta said.
"We have developed one kid-centric project in Bhiwadi comprising 1,150 units, of which 800 flats are sold out," Gupta told PTI.
Buoyed by the success of this project, he said the company has decided to develop two more projects in Jaipur and Gurgaon.
The company also roped in consultant from UK to develop required infrastructure for the kid-centric projects.

Ashiana Umang project in Jaipur has about 1,400 units, while Ashiana Anmol project at Sohna-Gurgaon has about 800 units. These two projects will be developed in the next 3-5 years.

"We have already invested Rs 500 crore in kid centric projects and is looking to invest Rs 500 crore more," Gupta said.
Rather than having simple swings and slides, the company has installed equipments related to rock climbing and jungle gyms that help children to develop more physical strength.
At Gurgaon and Jaipur projects, the company is developing learning centres for all-round development of children.
Gupta said there are very few players in India operating in this segment, including Gera Development in Pune and Rustomji in Mumbai.

Going forward, he said the company will continue to focus on both senior living as well as kid-centric projects.
In February 2015, the company had raised Rs 200 crore from global investors Goldman Sachs and Creador through its qualified institutional placement (QIP) issue.
Creador has sold it's stake in the company, while Goldman Sachs has divested some of its stake. Promoters have 61 per cent stake in Ashiana Housing.