Hot Stock: This small-cap company signs 11,00,000 square feet development agreement with Saraf Granite and Marbles LLP!

The stock is up by 44 per cent in just 1 year and gave multibagger returns of 190 per cent in 3 years.

Ashiana Housing Ltd. informed that the company has entered into a development agreement to develop a group housing project with an approximately saleable area of 11,00,000 sq. ft of 11 lakh sq. ft. at Village Bhankrota Kalan, Tehsil Sanganer, District Jaipur in the State of Rajasthan. The entity with whom the agreement was executed is not a related party of the company, nor is it a promoter, promoter group, or group company of the company. In other words, there is no ownership interest between the two entities.

Ashiana Housing is the principal business activity of the company in Real Estate Development. The company’s core business model is to buy land turn it into a residential building and sell it. Inventories should be liquidated in a 5–7-year timeframe. Management targets projects with gross margins over 30 per cent. 

The company has a market capitalization of over Rs 2100 crore. It has also reduced its debt and has been maintaining a healthy dividend payout of 41.8 per cent. The company has reported excellent numbers in its Quarterly Results and annual results.

On Friday, shares of Ashiana Housing Ltd zoomed 2.75 per cent to Rs 212.65 per share with an intraday high of Rs 216.65 per share and an intraday low of Rs 206. The stock’s 52-week high is Rs 228.85 and its 52-week low is Rs 130.

The stock is up by 44 per cent in just 1 year and gave multibagger returns of 190 per cent in 3 years. Investors should keep an eye on this Small-Cap stock.

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