1:1 Bonus Share: Construction Company Bags Redevelopment Project in Mulund East with Revenue Potential of Approx. Rs 420 Crore
The stock gave multibagger returns of over 250 per cent from its 52-week low, 1,460 per cent in 3 years and a whopping 6,000 per cent in 5 years.
On Thursday, shares of Shraddha Prime Projects Ltd hit a 5 per cent upper circuit to Rs 162.10 per share from its previous closing of Rs 154.40 per share. The stock’s 52-week high is Rs 168.50 per cent and its 52-week low is Rs 45.08 per share. The shares of the company saw a spurt in volume by more than 5 times on the BSE.
Shraddha Prime Projects Ltd has announced a significant development in Mulund West, a central suburb, with the receipt of an Intimation of Disapproval (IOD) for its "SHRADDHA PARADISE ENCLAVE" project. This marks one of the company's largest redevelopment undertakings, boasting a substantial carpet area of over 1,28,921 sq. ft. for residential units and 29,588 sq. ft. for commercial spaces. The project is projected to generate an approximate revenue of Rs 420 Crores within the next five years.
This ambitious endeavour involves the construction of a multi-storied high-rise tower, developed under the Development Control Planning Regulation (DCPR) 2034, specifically under the 33(11) Scheme. This scheme is anticipated to provide additional benefits to the project, including a higher Floor Space Index (FSI). The "SHRADDHA PARADISE ENCLAVE" aligns seamlessly with Shraddha Prime Projects Ltd's core mission of creating distinguished properties that offer modern living standards, reinforcing the company's commitment to excellence and client satisfaction.
DSIJ’s ‘Micro Marvel' service recommends micro-cap stocks with the potential to grow multifold in long run. If this interests you, do download the service details here.
About the Company
Shraddha Prime Projects Ltd, established in 2007, operates within the real estate development sector in India. The company focuses on a wide array of real estate activities, including the development, leasing, construction and reconstruction of residential projects. Their services extend to various housing segments in Mumbai, encompassing residential buildings, townships, slum rehabilitation projects, as well as low-cost, compact, premium and super-premium housing developments.
Earlier, on January 27, 2025, the shares of the company ex-traded a bonus share in the ratio of 1:1. The company has a market cap of Rs 647 crore with a 3-year CAGR of 125 per cent. Based on the shareholding pattern, the company's promoters hold a 75 per cent stake in the company, while the remaining 25 per cent is owned by the general public. The stock gave multibagger returns of over 250 per cent from its 52-week low, 1,460 per cent in 3 years and a whopping 6,000 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.