Ashiana Housing has sold 168 units of the total 280 units in Phase 4 of Ashiana Amarah project located in Gurugram, generating a sale value of ₹403 crore.

Varun Gupta, Director of Ashiana Housing, said the prices have more than doubled between Phase 1 and Phase 4 and even though a similar increase is not expected, the remaining 112 units in Phase 4 may be priced at least 10% higher than Phase 3 prices.

“We expect the remaining units to be gradually increased in price as we move forward. While I cannot specify the exact future prices, we will continue to adjust them every few months or even more frequently as sales progress,” he said.

The expected revenue from the remaining units is a little under ₹300 crore.

Gupta noted that Phase 4 fetched about 25% higher prices than Phase 3, which was introduced at the end of the previous financial year.

Over a period of just five months, the company has managed to raise prices while maintaining demand.

Gupta is optimistic about selling all the units in Phase 4 within this financial year and launching Phase 5.

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The company also plans to launch new phases for existing projects, along with  Phase 5 of Amarah. A new phase of One44, and updates to Malhar and Amod projects are in store.

The company, which has a market capitalisation of  ₹3,205 crore, has seen its shares rise 53 % over the last year.

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