Penny Stock Under Rs 30 acquires 4100 sq. yards in Pushkar for boutique villa development, funded internally

The stock is up by 55 per cent from its 52-week low of Rs 19.31 per share and has given multibagger returns of 235 per cent in 3 years.

Spectrum Foods Ltd has expanded its footprint in Rajasthan with the acquisition of a roughly 4,100 square yard freehold land parcel in Tehsil Pushkar, District Ajmer, offering stunning Aravali views and easy access to Pushkar's attractions. Financed entirely through internal accruals and existing cash reserves, this strategic purchase will see the development of a boutique villa enclave, bolstering the company's luxury leisure offerings in the region, and is a separate undertaking from their nearing completion 185-room five-star resort in Pushkar.

Earlier, the company signed an exclusive 90-day Letter of Intent with Minor Hotels for Minor Hotels to manage their upcoming luxury property, AVANI+ Pushkar Resort & Spa, which will be India's first AVANI-branded resort in Pushkar. The 185-key resort, set on 8 acres with Aravalli views, will offer rooms and villas (some with private pools) and plans a phased opening starting with 138 keys in August 2025. The agreement aims to finalise commercial terms for a Hotel Management Agreement, with the resort featuring dining options, a pool, gym, spa, event spaces, and a kids' club.

About the Company

Spectrum Foods Ltd. services the food industry. The company manufactures and sells spices and industrial salt. Spectrum Foods also participates in share trading activities. The company has a market cap of Rs 74 crore and debtor days have improved from 39.7 to 20.8 days.

The stock is up by 55 per cent from its 52-week low of Rs 19.31 per share and has given multibagger returns of 235 per cent in 3 years. Investors should keep an eye on this micro-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.