Ackruti Nirman is a construction and real estate group involved in the development, sale and lease of commercial, residential, retail, and industrial property. It undertook civil engineering and development jobs for the government and the defense forces. After completing many successful projects, the company decided to venture into residential construction projects in the year 1986. It entered into a slum rehabilitation venture in 1995.
The company has the highest number of completed and on going SRA projects. Some of the projects completed by the company are Akruti Softech Park, Akruti Arcade, Akruti Business Port and Akruti Center. All these are situated in Mumbai, Maharashtra. Upto 2006, 5.0 million square feet of building area has been developed by the company in India. Approximately 4.8 million square feet or 97% has been developed on land over which the company has obtained development rights through participation in slum rehabilitation projects in Mumbai.
To date, the company has constructed over 9,400 units in 157 apartment buildings in Mumbai to house slum dwellers. Its business operation also includes undertaking projects in real estate development, such as Bio-IT Parks, new townships and serviced apartments and hotels. The company has entered into a joint venture with DLF Limited for the construction of the DLF Akruti Info Park in Pune, which will yield a saleable or leasable area of 5,000,000 square feet.
It is having 12 subsidiaries. The company has been awarded the ISO 9001 certification. On the financial front, the company has been awarded a real estate developer`s rating of DA2 by CRISIL, Credit Rating Information Service of India. Financials The company announced rise of 84.19% in consolidated net profit on y-o-y basis to Rs 420.50 million, while total income climbed 120.94% y-o-y basis to Rs 1.86 billion for the quarter ended June 2010.
The company has the highest number of completed and on going SRA projects. Some of the projects completed by the company are Akruti Softech Park, Akruti Arcade, Akruti Business Port and Akruti Center. All these are situated in Mumbai, Maharashtra. Upto 2006, 5.0 million square feet of building area has been developed by the company in India. Approximately 4.8 million square feet or 97% has been developed on land over which the company has obtained development rights through participation in slum rehabilitation projects in Mumbai.
To date, the company has constructed over 9,400 units in 157 apartment buildings in Mumbai to house slum dwellers. Its business operation also includes undertaking projects in real estate development, such as Bio-IT Parks, new townships and serviced apartments and hotels. The company has entered into a joint venture with DLF Limited for the construction of the DLF Akruti Info Park in Pune, which will yield a saleable or leasable area of 5,000,000 square feet.
It is having 12 subsidiaries. The company has been awarded the ISO 9001 certification. On the financial front, the company has been awarded a real estate developer`s rating of DA2 by CRISIL, Credit Rating Information Service of India. Financials The company announced rise of 84.19% in consolidated net profit on y-o-y basis to Rs 420.50 million, while total income climbed 120.94% y-o-y basis to Rs 1.86 billion for the quarter ended June 2010.
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