High Promoter Holding Stock Revises Record Date For 1:1 Bonus Shares

Veer Global Infraconstruction Ltd is a small cap company dealing in the real estate sector. The company has landmark developments across Mumbai, Vasai, Virar, Umroli, Boisar & Shahada. The company has revised the record date for 1:1 bonus shares.

"In connection with the above and as per telephonic discussion representative of undersigned held with you the ensuing public holiday on account of 15%" August forced us revise the earlier scheduled record date of 18.08.2023 with a fresh record date as August 22, 2023 for the purpose of the determination of eligibility for the Bonus Shares in the ratio of 1:1. Please take the same on records in total compliance with applicable regulation(s) of the SEBI Listing Regulations and other applicable provisions if any," said Veer Global Infraconstruction in a stock exchange filing.

The company recorded a net revenue of Rs 11.45 Cr in FY23 compared to Rs 7.82 Cr in FY22. Its net expenses reached Rs 10.47 Cr in FY23 as against Rs 7.31 Cr in FY22. The company's net profit stood at Rs 0.72 Cr in FY23 compared to Rs 0.39 Cr in FY22. The EPS of Veer Global Infraconstruction stood at Rs 0.97 in FY23 compared to Rs 0.54 in FY22.

On Friday, the shares of Veer Global Infraconstruction opened at Rs 185 apiece up by 7.56% from the previous close of Rs 172. The stock made a 52-week-high of Rs 234.01 on (21/09/2022) and a 52-week-low of Rs 128.60 on (03/05/2023). During Q4FY23, the company reported promoter shareholding of 70.51% and public stake of 29.49%. The promoter stake of Veer Global Infraconstruction at the current level is much higher than its peers such as KNR Constructions, Mahindra Lifespace Developers, PNC Infratech, and NCC.