Realty Stock To Enter 7 New High-Growth Industries, Including Shipbuilding, Mining, and Clean Energy

Mumbai-headquartered Hazoor Multi Projects Limited (HMPL) has set the wheels in motion for a broader business play by green-lighting an ambitious plan to widen its core goals. At a recent board gathering in its registered office, company directors okayed the addition of seven fresh sectors to Clause III-A of the Memorandum of Association. The shake-up now lets HMPL chase faster-growing fields such as shipbuilding, maritime logistics, oil and gas, mining, environmental engineering and hospitality.

"The Board has approved the expansion of the Company's operations into various sectors, including Shipbuilding and Engineering, Ship Repair and Maintenance, Maritime Industry, Shipping Logistics and Transport, Mining and Quarrying, Oil and Gas Industry, Extraction of Crude Petroleum and Natural Gas, Oilfield Equipment, Services, Drilling, Consulting, Trade, Engineering, Procurement, and Construction, Environmental Engineering and Sustainability, including Waste Management, Hospitality, Lodging, Food and Beverage Services, and Related Travel and Tourism Services. Accordingly, the Board has resolved to insert the following sub-clauses, numbered 8 to 14 immediately after sub-clause 7 of Clause III-A of the Memorandum of Association ("MoA") of the Company," said Hazoor Multi Projects in a stock exchange filing.

Under the beefed-up MoA, HMPL can build and run ships, supply oilfield gear and expert advice, carry out vessel repairs, and roll out full waste-treatment and pollution-cutting projects. In hospitality and tourism, the firm may now oversee hotels, resorts, food-and-beverage outlets and even travel services, acting on its own or teaming up via subsidiaries, special-purpose vehicles or joint ventures.

The fresh push shows HMPLs plan to mix up income sources, cut reliance on one sector, and grab new market openings. It also marks a move away from a narrow infrastructure role towards a broader industrial identity.

The basis for Hazoor Multi Projects' strategic expansion into offshore oilfield services was laid recently with the announcement that it acquired Quippo Oil & Gas Infrastructure Limited in a historic Swiss challenge bid.

HMPL recently allotted 3,27,500 shares at Rs 30 each after converting 32,750 warrants. The deal pulled in Rs 73.69 lakh, with non-promoter Venkatraman Subramanian supplying about three-quarters of that. Paid-up capital now sits at Rs 22.44 crore. The balance of warrants can still turn into matching shares once the 75-percent balance of Rs 225 per warrant gets paid.

In a fresh development for shareholders, the board cleared plans to move HMPL's shares to the NSE Main Board once it clears eligibility rules and gets nods from regulators. Going mainstream should boost trading volumes and put the stock on the radar of big fund houses.

During FY25, domestic institutions also stepped in, picking up 808,983 shares that now stand for 0.39%, a clear seal of approval for the firm's growth plans.