Ashiana

active

 The Project involves development of affordable housing and senior living projects pan India by Ashiana Housing Limited (AHL, Ashiana or the Sponsor). The project would involve construction of about 5,000 to 6,000 mid-income/affordable housing units, including senior living units (with care homes) mostly targeted at active adults, across 5 to 7 projects over 6 to 8 years (the Project). The projects may be developed in a single or via multiple Special Purpose vehicles (SPVs) promoted by AHL.  AHL has a 30+ year track record, was incorporated in 1986 in Kolkata, India and its primary business is the development of affordable residential housing targeting the middle-income segment (https://www.ashianahousing.com/). AHL also has a smaller senior living business and a 101-room hotel in Bhiwadi (Rajasthan). AHL carries out the construction in-house and also manages the maintenance of its properties after handover to customers, through its 100% owned subsidiary, Ashiana Maintenance Services Ltd (AMSL) has been converted into AMS LLP from December, 2016. As of 31st March, 2017, AHL has constructed around 21.14 million square feet (msf) of area (mainly residential) to date, including 11,545 residential units over 58 residential phases and 10 commercial phases. AHL also has 10,943 units under maintenance. AHL entered the senior living space in 2005, and with around 1,500 seniors residing in their projects. AHL is listed on the Bombay and National Stock Exchanges and has a current market capitalization of US$260 million as on 27th October, 2017.   IFC is considering an 8 year structured equity investment of US$23 million in one or more newly created SPV promoted by AHL