Bharat Agri Fert & Realty Launches Wembley-24 Tower Amid Strong Market Response

On July 16, 2024, Bharat Agri Fert & Realty Limited announced the launch of its new high-rise tower, Wembley-24, in Majiwada, Thane. This impressive building has 60 floors and offers 457 residential flats with 2—and 3-BHK options. As the company owns the land, the project is expected to generate around ₹800 crore over the next 4 years, costing about ₹300 crore.

Before the official launch, 25 flats were already pre-booked. On the launch day, there was a strong interest in purchasing around 150 units, showing a high demand for quality housing. The company expects continued strong bookings, leading to solid revenues and profits in the upcoming quarters.

This launch highlights the company’s dedication to providing value to its stakeholders while maintaining financial and operational excellence. Bharat Agri Fert & Realty Limited remains focused on its strategic goals to maximise shareholder returns in the long term.

Commenting on the update, Mr Yogendra D. Patel, Chairman and Managing Director of Bharat Agri Fert & Realty Limited, said, “We are thrilled with the tremendous response to our latest project, Wembley-24. The robust pre-bookings and overwhelming interest on launch day underscore the market’s demand for high-quality residential spaces.”

He further added, “This project not only reflects our commitment to excellence but also our strategic vision of creating value for our stakeholders. As we move forward, we remain dedicated to executing our plans with financial prudence and operational efficiency, ensuring sustained growth and maximised returns for our investors. We appreciate our shareholders’ continued support and confidence as we embark on this exciting journey.”

About Bharat Agri Fert & Realty Limited

Bharat Agri Fert & Realty Ltd, formerly Bharat Fertiliser Industries (BFIL), was founded as a private company in 1959 and became public in February 1963. Founded by C B Patel and D M Patel, it constructs residential and commercial complexes, manufactures fertilisers, and operates resorts. In 1994, it merged with Patel Packaging Industries Pvt Ltd, combining their operations and renaming the merged entity Bharat Fertiliser Industries.

On July 16, 2024, Bharat Agri Fert & Realty Limited’s share price opened at ₹104.00, touching the day’s low of ₹100.15 as of 03:24 PM on the NSE.

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