273% return in 1 year: After stock split, this marketing company allotted more than 88 lakh equity
Housing company Hazoor Multi Projects is one of the multibagger stocks and has given around 273 percent return in 1 year to its investors. The counter has been bullish lately as it trades classic for a 10:1 split.
Now, the company has informed the exchange that its board has considered and approved the offer of 88,33,440 shares of face value of Re 1 each at an issue price of Rs 30 each, including a premium of Rs 29, on conversion of 8,83,344 warrants.
The remaining 75 percent of the warrant issue amount, amounting to Rs 19,87,52,400, was paid by the warrant holders. The newly allotted shares are equal to the existing shares. Currently, 1,04,94,795 warrants are outstanding, and their holders can convert them into equity shares by paying the remaining 75 percent of the issue price within 18 months.
The company has announced its financial results for the July-September quarter of FY25. The company reported a 15 percent jump in its Q2 consolidated profit on a QoQ basis at Rs 11.01 crore.
Meanwhile, the real estate sector is estimated to reach a market size of USD 1.3 trillion by 2034 and USD 5.17 trillion by 2047, according to a report by real estate agency CREDAI.
The current size of India’s real estate market is Rs 24 lakh crore (about USD 300 billion), which is split between residential and commercial at the rate of 80 percent and 20 percent respectively, the statement said.
The company reported a net profit of Rs 9.46 crore for the previous quarter ended June 30, 2024. The company’s operating income for the quarter stood at Rs 153.07 crore while
