Karda Constructions commence new project in Nashik

Nashik-based real estate developer, Karda Constructions has informed the bourses about the commencement of a new residential cum commercial project construction in Nashik.

The company has commenced the construction of Hari Aangan-Residential, High Street Shopping Mall Commercial, which is a new residential cum commercial project at Nashik.

The total saleable area of the project shall be 1, 88,244 sq ft and expected sale proceeds should be around Rs 48.94 crore. The said project will be completed on or before December 31, 2026.

The company has come up with IPO in March 2018 to raise Rs 77 crore. The stock has delivered a negative return of 10 per cent after listing on BSE.

The company is majorly engaged in real estate development (residential projects as well as residential cum office space) and construction contracts. It is having a presence across all segments-low, medium and premium segments. The company has delivered over 1 million sq ft carpet area while, 1.57 million sq. ft carpet area of ongoing projects is yet to be delivered.

Today, the stock of Karda Constructions traded between a narrow range of Rs 140-141.75 on BSE. The stock had touched 52-week high of Rs 239.00 on February 25, 2019 and 52-week low of Rs 89.00 on December 18, 2019.