PROJECT

Projects

Environmental & Social Review Summary

Project Number

46222

Company Name

ASHIANA HOUSING LIMITED

Date ESRS Disclosed

Mar 16, 2023

Country

India

Region

South Asia

Last Updated Date

Jul 15, 2025

Environmental Category

B - Limited

Status

Active

Previous Events

Approved : May 11, 2023
Signed : Jul 31, 2023
Invested : Jul 9, 2025

Sector

other

Industry

other

Department

Regional Industry - MAS Asia & Pac

Project Description

Incorporated in 1986 in Kolkata, Ashiana Housing Limited (“AHL” or “the company”) (https://www.ashianahousing.com/) has over 30 years track record with its primary business affordable residential housing development targeting the middle-income segment. It also has a smaller senior living business and a 101-room hotelBhiwadi (Rajasthan). AHL carries out the construction in-house and also manages the maintenance of its properties after handover to customers through its 100% owned subsidiary, Ashiana Maintenance Services  (AMS)liability limited partnership.

IFC is considering an investment of up to INR 2,250 mm (~US$27 mm) including construction of approximately 5,000 - 6,000 units of middle-income/affordable housing and senior living over 5-7 years (“the project”).

The project will be IFC's second investment in AHL (https://disclosures.ifc.org/project-detail/ESRS/38851/ashiana).

Overview of IFC's Scope of Review

IFC's review of the proposed investment consisted of appraising technical, environmental, health and safety and social (E&S) information submitted by AHL including information on environmental, health and safety management systems, Human Resource (HR) policy manual, corporate social responsibility (CSR) strategy and initiatives. The appraisal included site visits in November 2022 to an existing Middle Income housing project site in Jaipur (Daksh). During the appraisal, discussions were held with AHL's senior management including Assistant Vice President and E&S Manager.

E & S Project Categorization and Applicable Standard

Environmental and Social Mitigation Measures

Stakeholder Engagement

Broad Community Support