Penny Stock Under Rs 3: This Real Estate Company Hands Over 135+ Residential and Commercial Units Since April 2024, Launches Its Next Project in Nashik

The stock has given returns of 21 per cent in a month and trading at 0.27 times its book value.

KBC Global Ltd (Previously known as Karda Construction Ltd), in the business of construction and real estate development, has announced the commencement of a new project in Deolali, Nashik. The project is set to span over a 31,998 sq. ft. area and includes both residential and commercial spaces. With six commercial units and twenty-two residential units, this project reinforces KBC Global's commitment to supporting the local community through thoughtfully planned infrastructure. The company has assured investors and stakeholders that further details will be shared upon receiving the requisite approvals.

During the month of September 2024, the company has successfully handed over possession of 13 units from its projects - Hari Kunj Mayflower – 5, Hari Krishna Phase IV – 4, Hari Vishwa – 1 and Hari Sanskruti Phase II 4. Since April 2024, the company has handed over possession of a total of 135+ residential and commercial units in Nashik, Maharashtra. This includes 91 units from the Hari Kunj Mayflower project and 28 units from the Hari Krishna Phase IV project, with the rest from other ongoing projects.

KBC Global Ltd is expanding internationally with a USD 12.5 million project in Liberia’s Special Economic Zone (SEZ). This project, developed by KBC’s subsidiary, KBC International Ltd, will include residential and commercial spaces, with construction starting in Q2 2025 and completing in three years. The company’s move into Liberia follows a $20 million contract with CRJE (East Africa) Ltd, part of China Railway Construction Group, signed in June 2024.

In terms of finances, KBC Global recently made a key payment to Capri Global Capital Ltd, reducing its debt to Rs. 3.50 crore. The company also signed an agreement with Capri to waive non-financial penal interest, strengthening its financial position.

Founded in 2007, KBC Global has completed 125 units in 2024 alone and continues to grow its presence in Nashik’s real estate market. With the appointment of Mr. Muthusubramanian Hariharan as CEO in July 2024, KBC aims to expand both domestically and internationally, focusing on quality and sustainable development. The company’s ongoing projects and strategic partnerships demonstrate its commitment to creating value and contributing to economic growth.

Incorporated in 2007, KBC Global Ltd is in the business of real estate construction, development, civil contracts (EPC) and related activities.

This micro-cap stock is trading at Rs 2.23. The company has a market cap of Rs 380 crore. The stock has given returns of 21 per cent in a month. The company is expected to give good quarter. The company is almost debt-free. Stock is trading at 0.27 times its book value

Investors should keep an eye on this penny stock.

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