Realty Stock Hazoor Multi Projects To Consider Stock Split; Do You Own?

Mumbai-based infrastructure and real estate company Hazoor Multi Projects announced on Friday that its Board of Directors will meet on July 26, 2024, at the company's registered office to consider the sub-division (split) of the company's equity shares. This meeting will also address other agendas, including the reappointment of the Statutory Auditor, Independent Director, and Secretarial Auditor.

Last month, the company informed the exchanges that the board had approved the allotment of 1,25,85,300 fully convertible warrants, each carrying the right to subscribe to one equity share with a face value of Rs 10. Each warrant will be convertible into or exchangeable for one fully paid-up equity share of Rs 10 upon payment of the remaining 75 percent within 18 months from the date of allotment.

The BSE-listed multi-bagger stock has seen a significant rise, from Rs 124.62 to Rs 327.20 per share within one year, marking an increase of over 162 per cent. Over the past five years, Hazoor Multi Projects shares have demonstrated remarkable performance, rising from Rs 1.43 to Rs 327 per share, a staggering increase of 22,800 per cent. This consistent growth underscores the stock's potential and reliability, instilling confidence in investors.
Earlier, on May 3, Hazoor Multi Projects Limited informed the stock market that its Board of Directors had approved issuing 1.62 crore fully convertible warrants during a meeting. These warrants are being issued to non-promoter public category investors on a preferential basis at a price of Rs 300 per warrant, helping the company raise Rs 486 crore.

On November 23 of last year, the company received orders worth Rs 1,130 crore to upgrade and rehabilitate a section of NH-66 in Ratnagiri. Hazoor Infra Projects Private Limited, a wholly-owned subsidiary and new concessionaire received the project from Arawali Kante Multi Projects Private Limited, authorized by the Ministry of Road Transport & Highways. The project involves rehabilitating and upgrading NH-66 (old NH-17) from Km 241/300 to Km 281/300 (Arawali to Kante section) to four lanes in Maharashtra under NHDP-IV on a hybrid annuity model. The projected value of the project is approximately Rs 1,129.81 crore, with annuities at Rs 523 crore, interest on annuities at Rs 463 crore, and operation and maintenance costs at Rs 143 crore.

Hazoor Multi Projects Limited, founded on December 1, 1992, and headquartered in Mumbai, is engaged in the infrastructure and real estate business. The company executes and develops elite schemes, including a multi storey residential tower in Pune and an exclusive bungalow scheme near Amby Valley in Lonavala. The company's ongoing projects include Samruddhi Mahamarg and the rehabilitation and upgradation of Wakan-Pali-Khopoli. Hazoor Multi Projects has established itself as a prominent player in the industry, showcasing its ability to undertake and complete significant infrastructure projects.