Arihant Foundations & Housing (ARIHFOU) is a Chennai-based developer of designer buildings. It was incorporated as a private limited company on Mar. 6, 1992, converted into a public limited company on Apr. 6, 1995, and got its present name on June 9, 1995. The company develops residential, office complexes, and IT parks at prime locations and has vast experience having developed projects covering 5 million sq. ft. Completed properties include Arihant Trade Centre, Arihant Ocean Tower, Arihant Majestic Towers and Arihant Vaikunt, all prestigious landmarks in Chennai today. It has created world class IT parks for leading high-tech organizations like Syntel, Hutch, HCL Technologies, Verizon, Ajuba Solutions and Sterling Infotech.
With a target to develop around 5 million sq. ft., the company has ongoing residential projects including Arihant Heirloom, Arihant Escapade, Arihant Sholoka, and Arihant Galaxy. Arihant Insight, an IT park, has been made available to buyers. It has four unlisted companies as its subsidiaries, namely Vaikunt Housing, Arihant Griha, Varenya Constructions, and Transperent Heights Real Estate. Arihant Unitech Realty Projects is a 50:50 joint venture with Unitech, Delhi, for the purpose of developing a residential township in Chennai. The registered office is located at 271 (Old182), Poonamallee High Road, Ankur Manor, 1st Floor, McNichols Road, Chennai-600010.
Financials
The company reported rise of 81.11% in standalone net profit on y-o-y basis to Rs 5.50 million, while total income increased 20.56% y-o-y basis to Rs 809.56 million for the quarter ended December 2010.
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