Arihant news

The hotel deal adds a branded hospitality asset to Arihant's residential township at Chowk, but no opening date, room rates or project cost has been announced.

ITC Hotels will operate a five-star property on 10 acres inside Arihant's World Villas township, and villa buyers are not affected by the deal.

The rating is a market view, not a regulatory action, but the developer's six-month profit is down 21.4% and its shares are down 37.7% this year.

Revenue grew, but thinner margins and a 21.4% fall in half-year profit will keep investors focused on earnings quality.

Chart-based research now rates the listed developer's stock as a strong sell, with the decline widening over the past year.

The board-level change adds a non-executive independent director for a five-year term, pending approval from shareholders.

The payment closes a secured debt series and releases security over three Mumbai-region projects, as the stock fell sharply two days earlier.