Penny stock under Rs 100 rises after the company aligns with Hon. PM of India's Wed in India mission, Rs 57.50 crore funding for expansion will be arranged from Banks

The stock gave multibagger returns of 180 per cent in 3 years and a whopping 410 per cent in 5 years.

Bharat Agri Fert & Realty Limited (BHARATAGRI) is expanding its hospitality division, ANCHAVIYO Resort, to capitalize on India's booming destination wedding market and align with the Honourable PM of India - Shri Narendra Modi "Wed in India" initiative.

The company is investing Rs 85 crore to significantly enhance the resort's facilities, including adding 130 luxurious rooms, a state-of-the-art spa, a unique island pool, and a massive 28,000 sq. ft. open-air mandap. These additions aim to make ANCHAVIYO Resort a premier destination wedding venue in India, attracting both domestic and international clientele.

To finance this expansion, BHARATAGRI has secured Rs 25 crore from NKGSB Bank and is expecting an additional Rs 32.5 crore from other banking partners by December 2024. The company is also leveraging various government incentives and subsidies, including capital subsidies, lower energy tariffs, and tax exemptions, to reduce project costs and boost profitability.

India's wedding industry is a major economic driver, with an estimated value of USD 130 billion. The growing trend of destination weddings, coupled with the government's support, presents a significant opportunity for hospitality businesses like BHARATAGRI. By expanding ANCHAVIYO Resort, the company aims to capture a larger share of this lucrative market and contribute to India's economic growth.

About the Company

Bharat Agri Fert & Realty Limited (BAFRL), was established in 1962 as a pioneering Indian company, initially recognized for being the first to manufacture NPK fertilizers through "Project Finance" from NRI investors. With three key business verticals – Fertilizers, Realty, and Hospitality – the company is strategically navigating challenges and pursuing growth opportunities. In the fertilizer business, the company is temporarily leasing out its assets to address supply chain disruptions, fostering potential future manufacturing operations. The Realty segment focuses on a landmark project in Thane City, developing 60 60-floor building with a commencement certificate from the planning authority received to build up to the 35th floor.

On Wednesday, shares of Bharat Agri Fert & Realty Limited gained 3.55 per cent to Rs 81.20 per share from its previous closing of Rs 78.41 per share. The shares of the company have a 52-week high of Rs 132.45 per share while its 52-week low is Rs 68.53 per share. The stock gave multibagger returns of 180 per cent in 3 years and a whopping 410 per cent in 5 years.

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