Penny Stock Under Rs 50 Hits Upper Circuit and 52-Week High; Promoters of This Realty Company Bought 5,15,987 Shares in June!

The shares of the company have delivered a return of around 77 per cent to its shareholders in just 1 year.

Incorporated in 1988, Prerna Infrabuild Ltd is engaged in commercial and residential real estate projects in Ahmedabad. Projects undertaken include Prerna Aashtamangal, Prerna Aartika, Prerna Aagam, Prerna Raj Vijay Tirth, Prerna Apartments, Prerna Darshan, Doctor House, Prerna Tirth Jain Derasar Bhavan, Prerna Kutir, Prerna Deep, Prerna Tirth I & II, Prerna Viraj I & II, Prerna Arcade, Prerna Aura, and Prerna Aroma.

In June, Prerna Infrabuild Ltd saw significant purchases by its three promoters: Sanket Vijay Shah, Vijay Chandulal Shah, and Swetal Shah, acquiring 83,000, 122,300, and 310,687 shares respectively.

On Tuesday, the shares of Prerna Infrabuild Ltd surged 20 per cent, closing at Rs 43.39 per share, up from Rs 36.16 per share previously. The stock also reached its 52-week high on the same day. The current market capitalization stands at Rs 156.76 crore. Over the past year, the stock has delivered returns exceeding 77 per cent.

According to the annual performance of the company, it reported revenue of Rs 45.35 crore compared to Rs 18.19 crore, representing a gain of 149 per cent. The company’s operating profit stands at Rs 6.58 crore with an operating profit margin of 14.51 per cent. The company’s net profit stands at Rs 5.39 crore compared to Rs 9.77 crore, representing a decline of 44.83 per cent.

As per Quarterly Results in Q4 FY24, the company reported a quarterly revenue from operation of Rs 21.41 crore compared to a revenue of Rs 4.98 crore, representing a growth of 330 per cent on YoY basis. The company posted a net profit of Rs 0.95 crore in Q4 FY24 compared to a net profit of Rs 2.72 crore.

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