|Ansal Housing & Construction Ltd, promoted by Sushil Ansal,Gopal Ansal,Deepak Ansal,Ansal Properties & Industries(P) Ltd and their associates,was incorporated as Ansal Housing Finance & Leasing Ltd(a public limited company) on October 1983. A public issue was announced in December 1985 and the name was changed to the present one with effect from May 31 1990.
Real estate development continues to be the main business of AHCL,with focus on low and medium range residential property. It concentrates on the area in and around Delhi with special focus on Noida and Ghaziabad regions of UP.
In August 1999,the Ansal group has drawn a major restructuring plan,involving the consolidation of certain operations of AHCL,APIL and AB. Diversification into the infrastructure sector was put on hold,with focus on the real estate and hotel business. In 2001 the company has launched new project called Panchvati Enclave(Meerut) in Joint Venture with Meerut Development Authority. The residential project at Gurgaon involving construction of about 2 million Sq.Ft of area is likely to be launched in early of 2002. The expected turnover is approximately Rs.45 crores in this project for the first six months.|