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News Topical, Digital Desk : Shares of Ganesh Housing Limited saw a sharp rise on Thursday, November 27, a day after Ahmedabad was awarded the hosting rights for the 2030 Commonwealth Games. The company's shares rose more than 6% .
Ganesh Housing stated in its investor presentation this month that the 2030 Commonwealth Games in Ahmedabad could significantly benefit the company. The company stated, "Ahmedabad's selection as the host for the 2030 Commonwealth Games will further strengthen the city's infrastructure development and investor sentiment."
According to the company, it has a large developable land bank of 500 acres in prime and rapidly developing areas of Ahmedabad. Its development area is approximately 36 to 40 million square feet, allowing for the launch of large-scale projects in the coming years. Ganesh Housing stated that factors driving Ahmedabad's real estate demand include:
- Increasing registration of new projects
- Strong infrastructure (like Metro Phase-II)
- Proximity to GIFT City
What does the company say?
The company estimates that improved connectivity and strong investment interest will further increase demand for residential and commercial properties. Additionally, property values are expected to appreciate by 10-15% annually, making Gujarat's real estate market a high-return destination.
The 2030 Commonwealth Games could spark one of the largest opportunity cycles for infrastructure and real estate in Ahmedabad, as major sporting events generate massive construction projects, hotel expansion, urban development, and long-term demand for retail, residential, and commercial space.
Shares of Ganesh Housing surged nearly 12% in Thursday's trading, reaching an intraday high of ₹899.7. The shares subsequently traded at ₹857, up 6.8%. The company's market capitalization has now reached over ₹7,300 crore.
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