Hubtown Limited

Hubtown Limited (BSE:532799, NSE:HUBTOWNEQ), formerly known as Ackruti City Limited, is an Indian real estate development corporation with projects located in Mumbai, Pune, Gujarat and Bangalore.In Pune it is building a township project of more than 1200 flats. The handing over flats in Pune project to customers may start in October 2012. . Hubtown was founded in 1989 by Civil Engineer Hemant Shah and his brother Vyomesh Shah Hubtown is ACTIVE in Slum Rehabilitation Scheme (SRS) Projects and Public Private Partnership (PPP) projects. The company was listed on the Bombay STOCK Exchange (BSE) and the National Stock Exchange (NSE) in 2007.

Organization

Hubtown Limited is one of Mumbai’s largest real-estate developers, with over 43 million square feet under development. It has ongoing projects in Andheri, MIDC Andheri, Mira Road, Bandra, Sion, South Mumbai, Prabhadevi, Worli and Thane. The company was listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) in February 2007.

Hubtown is a major player in public private partnership projects with the government of Maharashtra including large projects in Chembur and Ghatkopar. Hubtown was awarded the tender to redevelop the Bandra Government Colony”, Mumbai’s largest ever redevelopment project.

In 2007, Akruti had purchased the Hindoostan Mills land at Prabhadevi for Rs. 350 crores (Rs. 3.6 billion), jointly with DLF. DLF then sold their stake in the land to Chennai-based C Sivasankaran in 2009 for Rs 310 crores (Rs. 3.1 billion).

Hubtown also constructed India’s first robotic parking lot in Mumbai at Breach Candy.. It partnered with DLF in Pune to build an IT SEZ. In December 2011, the IT SEZ was acquired by Blackstone for Rs. 810 crore (Rs. 8.1 billion).

Awards

Hubtown was awarded the tender to redevelop bus stations in association with the Gujarat State Road Transport Corporation (GSRTC), and is currently doing work in Ahmedabad, Mehsana, Surat and Vadodara.