Rs 1,200 crore revenue: This building and engineering services company bags a landmark redevelopment project in Borivali East
The stock gave multibagger returns of 215 per cent in just 1 year, 1,100 per cent in 3 years and a whopping 2,140 per cent in 5 years.
Shraddha Prime Projects Limited embarked on a transformative project – Shraddha Park City – poised to become one of the largest redevelopment initiatives in Mumbai's western suburbs. Located in Borivali East's Nensey Colony, this ambitious project encompasses a sprawling plot area of over 12,760 square meters.
Shraddha Park City boasts an impressive RERA carpet area exceeding 4,36,800 square feet dedicated to residential units and an additional 34,382 square feet designated for commercial spaces. This strategic mix of residential and commercial spaces has the potential to generate a remarkable Rs 1200 crore in revenue over the next five years.
Shraddha Prime's commitment to excellence shines through in various aspects of the project. They have secured the necessary approvals, including the IOD (Intimation of Disapproval) & CC (Commencement Certificate), and have also received Environment Clearance, ensuring the project adheres to environmental regulations. Additionally, their dedication is evident in the significant stamp duty payment of Rs. 7,02,40,876 for the development agreement registration.
Developed under the Development Control Planning Regulation (DCPR) 2034's 33(11) A Scheme, Shraddha Park City will benefit from a higher Floor Space Index (FSI), allowing for optimal space utilization and project viability. This multi-storied high-rise tower, envisioned to become a landmark in Borivali East, aligns perfectly with Shraddha Prime's mission of developing distinguished properties that cater to modern living standards. With a focus on resident needs and a commitment to excellence, Shraddha Park City promises to reshape Borivali East's landscape.
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About the Company
Shraddha Prime Projects Ltd, established in 2007, initially focused on the manufacturing and selling of Survey Instruments. However, the company has recently transitioned its core business and ventured into the real estate development and construction sector.
On Wednesday, one of the Top Gainers on BSE, shares of Shraddha Prime Projects Ltd zoomed 5 per cent upper circuit to Rs 118.55 per share from its previous closing of Rs 112.95. The stock’s 52-week high is Rs 201.70 and its 52-week low is Rs 32.20.
The company has a market cap of Rs 239.48 crore with a 3-year CAGR of 125 per cent. Based on the shareholding pattern, the company's promoters hold a 75 per cent stake in the company, while the remaining 25 per cent is owned by the general public. The stock gave multibagger returns of 215 per cent in just 1 year, 1,100 per cent in 3 years and a whopping 2,140 per cent in 5 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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