7400 per cent returns and FIIs increase stake: This multibagger micro-cap construction company bags new order worth Rs 1,129.81 crore!

Shares of the company have gained more than 30 per cent in the last six months.

Hazoor Multi Projects Limited informed in the exchange filing that the Ministry of Road Transport & Highways has awarded a contract to Hazoor Infra Projects Private Limited (A wholly owned Subsidiary Company & “New Concessionaire”) for the Rehabilitation and up-gradation of NH-66 (old NH-17) from Km.241/300 to Km. 281/300 (Arawali to Kante section) to four lanes in the State of Maharashtra under NHDP-IV on Hybrid Annuity mode in Ratnagiri district. The projected value of the project is approximately Rs.1,129.81 crores.

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The company posted robust Quarterly Results. The revenue of the company for Q2FY24 stood at Rs 112.25 crore which declined by 40.71 per cent YoY. The operating profit of the company stood at Rs 18.63 crore, while the PAT of the company stood at Rs 13.79 crore, from Rs 9.46 crore last year's same quarter.

Hazoor Multi Projects Limited (HMPL) is engaged in the business of infrastructural development and works as a sub-contractor in executing various national highway road projects awarded by government authorities such as Maharashtra State Road Development Corporation Ltd. (MSRDC) and National Highways Authority of India (NHAI).

Shares of Hazoor Multi Projects Limited also delivered multibagger returns in the last three years. During this period, the company’s share price jumped from Rs 2.34 on December 04, 2020, to Rs 183.50 on November 29, 2023, an increase of about 7400 per cent. FIIs have also increased their stake in the company.

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