Asahi Infrastructure & Projects Limited declared that it has got final authorization from the administration of Rajasthan for carrying out Affordable Housing Project 2009 under PPP.

The total cost of the project will be Rs 2 billion.

The project work comprises fabricating 1800 houses on 52% land to be handed to Avas Vikas plus 200 independent bungalow, commercial complex & mini theatre will be set up separately on 48% land to be formulated according to company choice.

The work will be started by the coming month.

In February 2011, the company also pocketed a contract from the Municipal Council of Washim, Maharashtra.

The project worth Rs 100 million was for constructing 544 houses in addition to infrastructure work including roads, sewage system, community centres, pre-primary educational institutions, water supply pipelines and development of parklands.

The said project, to be finished in a period of nine months, is part of a Central Government-sponsored plan.

On Friday (April 15), the stock of the company marked its closure at Rs 11.03, up 0.1%, on the Bombay Stock Exchange (BSE).

The share price has seen a 52-week high of Rs 19.95 and a low of Rs 7.70 on BSE.