31,033.33% Return: Realty Stock Bags Rs 40 Cr Order Deal From Welspun Enterprises

On Friday, the shares of Hazoor Multi Projects closed in a 5% upper circuit limit at Rs 467 apiece which was also its record 52-week-high level. The market capitalisation of the real estate company was Rs 871.41 Cr. The spike in the stock price was observed not only after it went ex-dividend on August 28 at Rs 2 per share, but also on August 30 when it was awarded an order transaction worth Rs 40 Cr from Welspun Enterprises.

"We are pleased to inform that work order has been awarded to M/s Hazoor Multi Projects Limited, received from Welspun Enterprises Limited for Stacking and Dewatering works. The value of awarded project is Rs.40 crores plus applicable taxes," said Hazoor Multi Projects in a stock exchange filing.

Informing about another order deal, the company said in a regulatory filing that "We are pleased to inform that work order has been awarded to M/s Hazoor Multi Projects Limited, received from B.G. Shirke Const. Tech. Pvt. Ltd. for Excavation of various site located at Pahadi Goregaon-1473, Shirdhon- III, Khoni- 1374, Nawde-1449, CPWD- 1447, Taloja-1415/16, Thane- 1453 and Kanamwarnagar-1180. The value of awarded project is Rs. 30 crores plus applicable taxes."

At the 32nd Annual General Meeting (or "AGM") of the firm, which took place on Tuesday, August 27, 2024, the shareholders accepted Mr. Pramod Kumar's appointment as an independent director for a term of five (five) years, starting on May 29, 2024, and ending on May 28, 2029.

The appointment of Mr. Tejas Kirtikumar Thakkar (DIN: 01638689) as an Executive Director of the company was also authorised by the shareholders during the 32nd Annual General Meeting (AGM). The appointment will last for five (five) years, starting on May 29, 2024, and ending on May 28, 2029.

The appointment of Mr. Arvind Vilasrao Sapkal (DIN: 08607096) as a non-executive director of the company was also approved by the shareholders during the 32nd Annual General Meeting (AGM). The appointment will run for five years, starting on May 29, 2024, and ending on May 28, 2029.

Strong financial results were released by the corporation, with net profit for FY 24 rising by 20.40% to Rs 54.88 Cr and total income of Rs 494.60 Cr.

Commenting on the growth outlook of the company, the Chairman of the company said, "We believe that the residential real estate sector in India will continue to grow rapidly in the coming years, providing opportunities for leading developers to participate in sectoral growth while also gaining market share. These projects will play a crucial role in ensuring that we meet our goal of growing our sales while also providing us with the opportunity to expand our margin in line with our objective of achieving an ROE."

"Our company understands that the world is currently facing climate change risks and environmental degradation. Therefore, we believe that our responsibility to bring joy to our customers extends beyond providing them high-quality homes. We are committed to running a sustainable business and will continue to strengthen our ESG performance across our operations to make a positive impact on the environment. Our focus on long-term sustainability is not only good for the planet, but also for our customers' well-being. We are dedicated to addressing climate change through prioritized measures involving mitigation, resilience, transparency, and collaboration. Our goal is to systematically address climate-related risks and leverage emerging opportunities for the real estate sector," the chairman further added.

Hazoor Multi Projects shares reached a fresh 52-week-high of Rs 467.00 on (30/08/2024) and a 52-week-low of Rs 115.00 on (26/10/2023). The company has generated a massive return of 31,033.33% in 5 years, 2890% in 3 years, 269.32% in 1 year and 36.07% YTD so far in 2024.