KBC Global Appoints Muthusubramanian Hariharan As Executive Director And CEO

KBC Global Ltd, previously known as Karda Construction Limited (BSE: 541161), a leading company in the construction and real estate development sector, has announced the appointment of Mr. Muthusubramanian Hariharan as its new Executive Director and CEO, effective July 9, 2024. This appointment was confirmed by the Board of Directors during a meeting held on July 8, 2024.

Mr. Hariharan will serve in this role until the next general meeting. He will lead KBC Global's global business development, execute the company's strategic plans, and communicate the organization's vision, mission, and strategic objectives. In line with its business expansion goals, KBC Global has opened a new corporate office in Mumbai at Maitrya Business Park, Opposite Cosmos Bank, Hanuman Road, Vile Parle.

Since April 2024, KBC Global has handed over possession of 109 residential and commercial units across various ongoing projects in Nashik, Maharashtra. This includes 76 units of the Hari Kunj Mayflower project (MAHARERA Reg No: P51600020249), 19 units of the Hari Krishna Phase IV project, and additional units from other projects. KBC Global's wholly-owned subsidiary, Karda International Infrastructure Ltd, has secured a subcontract worth approximately USD 20 million from CRJE Ltd for the soft infrastructure segment, marking the company's entry into Africa's infrastructure development. The company has also announced strategic plans for both domestic and international market expansions.

The real estate sector is expected to continue growing, driven by supply and demand dynamics, regulatory frameworks, and economic conditions. Government initiatives like "Housing for All" and the Pradhan Mantri Awas Yojana, along with infrastructure megaprojects such as highways, airports, and metros, are further fueling this growth.

Recently, KBC Global was awarded a significant subcontract worth around USD 20 million by CRJE (East Africa) Ltd, a subsidiary of the China Railway Construction Group. This contract focuses on civil engineering within the soft infrastructure segment and represents a major milestone for KBC Global. It underscores the company's expanding presence and capabilities in the African market, positioning KBC Global as a key contributor to East Africa's infrastructure development.

In the fiscal year 2022-2023, Karda Construction Limited reported revenues of Rs. 10,818.56 Lakhs.

Established in 2007, KBC Global Ltd specializes in the development and sale of residential and residential-cum-office projects in Nashik, India. The company operates in two primary segments: construction and development of residential and commercial projects, and contractual projects. Notable projects include Hari Gokuldham, Hari Nakshtra-II, Eastext Township, Hari Sanskruti II, Hari Siddhi, and Hari Samarth.