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Hubtown rises on plan to foray into affordable housing segment

  • May-19-2017
  • 14 Hrs IST

Hubtown is currently trading at Rs. 152.50, up by 0.55 points or 0.36% from its previous closing of Rs. 151.95 on the BSE.

The scrip opened at Rs. 160.00 and has touched a high and low of Rs. 160.00 and Rs. 150.10 respectively. So far 177265 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 173.00 on 11-May-2017 and a 52 week low of Rs. 81.55 on 15-Nov-2016.

Last one week high and low of the scrip stood at Rs. 165.20 and Rs. 149.00 respectively. The current market cap of the company is Rs. 1097.95 crore.

The promoters holding in the company stood at 71.59%, while Institutions and Non-Institutions held 3.97% and 24.44% respectively.

Hubtown is planning to foray into the orbit of affordable housing by launching economical residential projects in Mumbai. The company is developing projects in seven Indian cities spanning from premium residential and commercial spaces to IT parks and special economic zones (SEZs).

By launching low-cost projects, the company is planning to cater to the community of middle class and first-time home buyers. The primary highlight of these projects is to lend a fillip to the sphere of affordable housing space, catering to the buyer's requirements and desires of investing in cost-effective homes in central, well-connected locations in Mumbai. Through this initiative, the Company hopes to establish a blueprint for development within the affordable asset class by offering contemporary housing mingled with the quotient of affordability.