1:1 Bonus Shares By Real Estate Stock: 24th January Record Date; Buy The Hidden Gem?

In the busy metropolis of Mumbai, Shraddha Prime Projects Ltd. is a renowned real estate developer. After the Board announced the record date for 1:1 bonus shares, Shraddha Prime Projects Ltd.'s shares ended Tuesday at Rs 228.25 per share, down 1.36% on the BSE. The market cap of the company reached Rs 461 Cr.

Shraddha Prime Projects Bonus Shares

At its meeting on December 9, 2024, the Board of Directors recommended issuing and allocating 1:1 bonus shares. The eligible shareholders whose names appear on the record date will receive a total of 20,200,500 equity shares as bonus shares. It is anticipated that these bonus shares will be credited or issued on or before February 8, 2025.

Shraddha Prime Projects Bonus Share Record Date

"This is further to our letter dated 17th January, 2025 intimating the approval by the members for issue of bonus shares in the ratio of 1:1. In this regard, we wish to inform that the Company has fixed Friday, 24th January, 2025 as the Record Date for the purpose of determining the equity shareholders of the Company eligible for the bonus equity shares of the Company," said Shraddha Prime Projects in a stock exchange filing.

Shraddha Prime Projects Financials

The company's net sales for the September 2024 quarter were Rs 37.60 crore, rising 236.36% from the September 2023 quarter's net sales of Rs 11.18 crore. Its net profit improved 239.55% from Rs. 2.15 crore in Q2FY24 to Rs. 7.29 crore in Q2FY25. In the September 2024 quarter, EBITDA was Rs. 10.54 crore, rising 213.69% from the September 2023 quarter's Rs. 3.36 crore.

The company is yet to release its December 2024 quarter results.

Shraddha Prime Projects Share Price Target

"Shraddha Prime Projects stock price is bearish on the Daily charts with strong resistance at 239. A Daily close below support of 218 could lead to a target of 200 in the near term," commented A R Ramachandran, Independent Research Analyst.

Disclaimer

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