FII holding in Ansal Housing up by 9.45%

NEW DELHI: Real estate firm Ansal Housing and Construction Ltd has said foreign institutional investors (FIIs) have increased their stake in the company by 9.45 per cent to 14.47 per cent at the end of December 31, 2006 compared to 5.02 per cent in the previous quarter.

The major FII shareholders at the end of the latest quarter includes Citigroup Global Market Mauritius, Lehman Brothers Asia Ltd, Morgan Stanley and co and UBS Securities Asia Ltd, said a statement from the company, quoting data available on stock exchanges.

The company is on a major expansion spree with upcoming projects worth Rs 6,000 crore, primarily in tier-II and III cities. More than Rs 1,100 crore is expected to flow into the development of integrated townships.

Ansal Housing has so far developed 67.64 million sq ft of area and more than 65.56 million sq ft is under various phases of development.

The company is launching residential townships across seven cities starting with Agra, Indore and Jammu. The other cities include Rewari, Karnal, Meerut and Ghaziabad.