Multibagger penny stock and 350 per cent returns: This micro-cap construction company to constructs two towers with potential revenue of Rs 100 crore; hits fresh 52-week high!

Shares of the company gained over 220 per cent in the last six months.

Shraddha Prime Projects is making headway in Kanjurmarg East, Mumbai, with their redevelopment project, Shraddha Pavillion. The project was launched this year, the two-tower complex boasts a strategic location near key highways and enjoys a Commencement Certificate with construction already underway. The company invested Rs 7.7 crores in TDRs for FSI expansion, with plinth work progressing on both towers. This project with 53,000 sq. ft. of saleable area holds the potential to generate over Rs 100 crores in revenue within two years, and sales have already begun.

This promising development in a developing area strengthens Shraddha Prime's portfolio and underscores its commitment to delivering value to stakeholders. Owning to the positive news, the stock also made a fresh 52-week high on Friday.

Shraddha Prime Projects Limited is an expanding real estate developer headquartered in Mumbai. The company has a diverse range of projects, including residential buildings, slum rehabilitation projects, redevelopment projects and MHADA development. The company constructs homes that cater to a wide spectrum of society, offering options such as affordable housing, compact residences, premium dwellings and super-premium residences.

Today, the stock opened at Rs 87.74, with a high and low of Rs 87.74 and Rs 83.15, respectively. The stock is currently trading at Rs 85.00, which increased by 1.21 per cent. The stock also delivered multibagger returns of over 350 per cent in the last one year. Investors should keep a close eye on this stock.

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