Following the announcement of land acquisition, the share price of this small-cap realty stock hit a 5% upper circuit on BSE to Rs. 655.35 in the morning trading session of Thursday, compared to its previous closing price of Rs. 624.15.
With a market capitalisation of Rs. 1,619.55 crore, Kesar India Limited has delivered multibagger returns of nearly 2,034 percent in the last one year, while 387 percent in the last six months. So far in 2024, it has given 347.7 percent of multibagger returns.
According to the recent regulatory filings with the exchanges, Kesar India acquired land admeasuring nearly 14,000 sq. mt. (or ~1.5 lakh sq. ft.) situated in Nagpur.
Earlier this month on 2nd May, the company delivered the Kesar Gateway Project, spanning over 1.5 million sq. ft., in a record-breaking time 28 months earlier than its proposed completion date of March 2026, achieving a new milestone in the company’s history of delivering ahead of schedule.
In terms of financials, the company’s revenue from operations grew by nearly 2367 percent from Rs. 0.75 crore in Q2 FY23-24 to Rs. 18.5 crore in Q3 FY23-24, accompanied by a rise in PAT from a net loss of Rs. 1.2 crore to a profit of Rs. 5.25 crore during the same period.
The return on equity (ROE) stood at 7.08 percent in FY22-23, down by 233.3 percent from 240.4 percent in FY21-22, while Return on Assets (ROA) declined by 37.54 percent from 40.02 percent in FY21-22 to 2.48 percent in FY22-23.
As of March 2024, FIIs hold 18.62 percent of the shares, while Promoters hold 74.99 percent of equity shares in Kesar India Limited.
Kesar India Limited operates as a real estate development company, that designs and develops family luxury residential and commercial buildings.
Written by Shivani Singh
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