Micro-cap stock engaged in the business of providing space-as-a-service jumped 5 percent from the day’s low after it announced the expansion of its operations that will constantly generate revenue as follows.
At 10:30 a.m the shares of Kontor Space Limited were trading at Rs. 92.40 and its market capitalization is Rs. 55 Crores.
Kontor Space Limited has executed a Letter of Intent (LOI) for opening a new Coworking Center at MIDC, Andheri East. This Co-working space will be spread over approximately 25,000 sq. Ft of an area with a Capacity of 500 seats.
The new co-working space will become operative from the Second Quarter of the Financial Year 2024-25 which will consequently boost the revenue of the Company by approximately Rs. 3.5 Crores in the said financial year and will be generating a revenue of approximately Rs. 6 Crores onwards from the Financial year 2025-26.
Kontor Space Limited is primarily engaged in the business of providing space-as-a-service by renting and managing commercial spaces.
The company’s revenue from operations grew 128.68 percent from Rs. 4.01 Crore in FY22 to Rs. 9.17 Crore in FY23, accompanied by increasing profits of Rs. 30 Lakhs to Rs. 1.88 Crore.
It has reported a return on equity (ROE) of 69.59 percent and a return on capital employed (ROCE) of 48.43 percent, it is making good returns on its equity and capital employed.
Written by: Bharath K.S
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