Multibagger Update: Shares of this real estate company soar 10 per cent; deliver 170 per cent returns in just one year!

All the sectoral indices were trading downwards with BSE Realty being one of the hardest-hit sectors. In spite of that, the shares of this real estate company soared over 10 per cent.

After opening in the green territory, the Indian benchmark indices i.e. Sensex and Nifty 50 trimmed all their early gains amid weak global sentiments. Sensex plunged nearly 1,000 points whereas Nifty made a fresh 52-week low today. All the sectoral indices were trading downwards with BSE Realty being one of the hardest-hit sectors.  

In spite of that, the shares of a real estate company namely, Marathon Nextgen Realty Ltd’s soared over 10 per cent and also, traded at a new 52-week high value of Rs 202.75 per share on BSE. It witnessed a spurt in volume of more than 1.92 times. The stock has surged over 170 per cent in just one year while over the period of six months, it was able to deliver nearly 80 per cent returns to its shareholders. It furnished returns of 35 per cent in just one month.  

Recently, the company announced that it recorded net sales and other operating income of Rs 165.35 crore thereby, posting a growth of 139.19 per cent from Rs 69.13 crore registered in Q4FY21. On the other hand, the operating profit was recorded at Rs 54.34 crore in Q4FY22 as compared to an operating profit of Rs 20.14 crore in Q4FY21. Q4FY22 recorded a net profit of Rs 19.57 crore in comparison with the net profit of Rs 3.18 crore in the same quarter of the previous year, surging 515.45 per cent. The company’s board has approved the dividend at 10 per cent i.e. 0.50 paisa per equity share for the year 2021-22.  

The company is primarily engaged in the business of construction, development, and the sale of commercial as well as residential real estate projects. Currently, Marathon Nextgen Realty and Marathon Realty Private Ltd are collectively executing three projects – Marathon Futurex (commercial), Marathon Embrace (residential), and Marathon Carlo & Plaza (commercial and residential) at a total estimated project cost of Rs 2,070 crore. Keep a close eye on this scrip for the upcoming sessions.