Bharat Agri stock in focus: Bharat Agri Fert and Realty surged as much as 3.73 per cent to hit an intraday high of Rs 105 per share on Tuesday.
The uptick came after the company said it has launched a high rise tower, Wembely-24, which has Ground plus 60 floors. It stands as the tallest tower in Majiwada, Thane.
The tower will offer 457 BHK Residential Flats of 2/3 BHK. The total realisations from the Majiwada Project, comprising 457 flats, will be approximately Rs 800 crore in the next 4 years on a pro-rata basis. Of which, the cost of the project will be approximately Rs 300 crore since the land is owned by the company.
“Even before officially launching the project, firm confirmations for pre-booking of 25 flats have been received. On the day of launch, the company has received tremendous enquiry with intention to buy approximately 150 units,” Bharat Agri Fert and Realty said.
The enthusiastic response from customers, on the official launch, underscores the demand for quality housing in the market.
“We anticipate further momentum in bookings, setting the stage for strong revenues and profitability in the quarters ahead. These developments reflect our commitment to delivering value to our stakeholders while maintaining financial prudence and operational excellence. We remain focused on executing our strategic initiatives and maximising shareholder returns in the long term,” the company added.
Bharat Agri Fert & Realty Limited operates in multiple sectors including construction and development of residential and commercial complexes, fertiliser manufacturing, and resort operations.
The company is divided into three segments including Construction, Fertiliser, and Resort.
It markets its Single Super Phosphate (SSP) fertiliser under the BHARAT brand, offering both powder and granulated forms.
Anchaviyo, part of its resort division, features 40 theme-based rooms, a banquet hall accommodating up to 150 guests, and two restaurants serving a variety of global cuisine dishes.
Additionally, the company’s real estate portfolio includes Shiv Sai Paradise, located in Thane, Maharashtra.
The market capitalisation of the company is Rs 547 crore, according to Bombay Stock Exchange (BSE).
At 10:20 AM, shares of Bharti Agri were trading 1.83 per cent higher at Rs 103.07. In comparison, BSE Sensex was hovering near record levels, up 0.22 per cent at 80,843.58 levels.
First Published: Jul 16 2024 | 10:26 AM IST
