Arihant Foundations to elevate Chennai's landscape by developing corporate office of Equitas Small Finance Bank

Arihant Foundations & Housing Limited through its Wholly Owned Subsidiary M/s. Verge Realty Private Limited has announced a mandate it has won from Equitas Small Finance Bank for the development of its corporate headquarters at Anna Salai, Chennai.

Nestled in the heart of Anna Salai, adjacent to the Little Mount metro station, and diagonally opposite the prestigious ITC Grand Chola at Guindy, the prime property measuring around 1 acre is poised to become a new landmark for the growing portfolio of Arihant Foundations. Approvals from the development authorities have been received for this development of just under two lakh square feet and it is all set to be completed in less than two years.

Mr. Kamal Lunawath, Managing Director of Arihant Foundations and Housing Limited., stated, "Our commitment to creating innovative office spaces aligns effortlessly with the vibrant energy of business hubs across Chennai. With a focus on technology, strategic partnerships, and meticulous craftsmanship, we aim to shape the future of Chennai. We are delighted to contribute to Equitas' vision by providing them with a space that reflects their commitment to excellence."

This collaboration underscores a significant stride in the shared pursuit of excellence by Arihant Foundations and Equitas Small Finance Bank. Together, they are setting the stage for a landmark corporate headquarters that will stand as a testament to innovation, trust, and growth in the banking sector.

Colliers' office services team of Chennai was the transaction advisor. Colliers is a leading diversified professional services and investment management company with global presence across 66 countries.

In 2023, Chennai recorded 10.5 million sq.ft. of office leasing activity, reflecting that the city is poised for exponential growth. This is a landmark deal and one of the largest end-use transactions in Chennai. The ~200,000 sq.ft. project will elevate the city's commercial real estate landscape and we are proud of our Office Services team in Chennai to have facilitated this marquee deal.", says Arpit Mehrotra, Managing Director, Office Services, Colliers India.

Shares of Arihant Foundations & Housing Limited was last trading in BSE at Rs. 126.60 as compared to the previous close of Rs. 129.15. The total number of shares traded during the day was 1876 in over 22 trades.

The stock hit an intraday high of Rs. 126.60 and intraday low of 126.60. The net turnover during the day was Rs. 237501.00.

Shares of Equitas Small Finance Bank Limited was last trading in BSE at Rs. 92.89 as compared to the previous close of Rs. 96.80. The total number of shares traded during the day was 206570 in over 2034 trades.

The stock hit an intraday high of Rs. 99.25 and intraday low of 92.25. The net turnover during the day was Rs. 19600120.00.

Source : Equity Bulls

Keywords

ArihantFoundationsandHousing INE413D01011 VergeRealty Mandate OrderWin EquitasSmallFinanceBank INE063P01018 CorporateHeadquarters AnnaSalai Chennai