This small-cap real estate company gets a government NOD for a 12-acre commercial project; the penny stock is expected to perform well this quarter
Foreign institutional holding has increased from 2.36 per cent to 3.54 per cent in the March 2024 quarter.
Hampton Sky Realty Ltd has successfully obtained all the necessary government approvals to move forward with a 12-acre commercial development project in Ludhiana. The project is situated along NH-5 on the Ludhiana-Chandigarh Road, within the city's municipal boundaries. The development is planned to have a total built-up area of 600,000 square feet. Preparations for the project are underway, with architectural designs currently being crafted by a prominent firm based in Los Angeles, USA.
As per the filings at BSE, the features of the new project will be:
An Unparalleled Retail Experience: A world of luxury and convenience, this High Street Shopping Destination will host a curated selection of renowned international brands alongside local favorites, catering to every style and preference.
A Culinary Wonderland: It will have an array of culinary delights, with a diverse selection of gourmet restaurants, trendy cafes, and artisanal eateries set to tantalize your senses and elevate your dining experience.
Entertainment Galore: From captivating live performances to immersive cultural exhibitions, this High Street Shopping Destination will be a hub of entertainment and leisure, offering something for everyone to enjoy, whether you are seeking relaxation or adventure.
Sustainable Design: Committed to environmental stewardship, the project will have state-of-the-art sustainable design features, including energy-efficient infrastructure, green spaces, and eco-friendly amenities, ensuring a harmonious coexistence with nature.
This project will substantially add up to the Top & Bottom Line of the Company's financials. The work on the project is slated to start within this quarter and it will be complete in the year 2026-27.
Hampton Sky Realty Ltd. engages in the development of real estate. It operates through the following segments: Real Estate and Textile Division and Trading in Shares. The company was founded on February 19, 1987 and is headquartered in Haryana, India.
DSIJ’s ‘Flash News Investment' weekly Newsletter recommends profit-making ideas for you based on fundamental and technical analysis. This service is available as part of the "Festive Savings" combo offer discounted at 51%. Do download the service details here.
In the December 2023 Quarterly Results, the company reported a revenue of Rs 59.02 crore, up 4.48 per cent from the previous quarter's Rs 61.79 crore. Also, a 260.10 per cent increase compared to the Rs 16.39 crore reported a year ago. The company's net profit for the quarter stood at Rs 3.04 crore, a 15.15 per cent improvement from the Rs 2.64 crore in the previous quarter.
The company has a market cap of Rs 881 crore and shares of the company trading at Rs 32.1. Foreign institutional holding has increased from 2.36 per cent to 3.54 per cent in the March 2024 quarter. Looking at the trailing twelve months data of income statement company is expected to give good quarter.
Investors should keep an eye on this Small-Cap penny stock.
Disclaimer: The article is for informational purposes only and not investment advice.