Incorporated as a public limited company in Mar.'95, Arihant Avenues and Credit was promoted by Mohanlal M Mehta, Dineshkumar M Mehta, Arvindkumar H Hundia and Laxman H Vaghela.
The company is presently in the busines of short term lending. It proposes to take up two major areas of operations -- real estate development and construction; financial services like investments, leasing and short term lending. It has acquired freehold land in the Jhalore district of Rajasthan and at Ahmedabad, for construction of residential bunglows.
The company came out with a public issue in Feb.'96 to part-finance its long-term working capital requirements for the development and construction of housing projects and, to part-finance the long-term fund requirements for the proposed financial activities.
The sales for the year 1999-2000 were reported at Rs 14 lacs and a net profit at Rs 7 lacs.