The shares of one of the leading Infrastructure stocks, specializing in development as an EPC Contractor, in focus upon Venturing into Renewable Energy with the development of Maharashtra’s first solar park.
Price action
With a market capitalization of Rs. 1,122.41 crores on Tuesday, the shares of Hazoor Multi Projects Limited are trading at Rs. 51.7 down by 4.9 percent making a low of Rs. 51.25 per share compared to its previous closing price of Rs. 53.96 per share.
What Happened
Hazoor Multi Projects Limited specializing in development of infra projects as an EPC Contractor has announced to enter into the green energy revolution in India with the development of the Chhatrapati Shivaji Maharaj Saur Urja Park (CSMSUP) which is Maharashtra’s first solar park.
This landmark initiative is being developed in collaboration with a leading multinational company from the United Kingdom and is poised to play a transformative role in the state’s renewable energy landscape.
The park will have a capacity of 1.2 GW and span 4,200 acres. It will feature advanced technology, including 750-watt solar panels and both fixed and tracking systems that follow the sun to optimize energy production. The park will contribute significantly to India’s renewable energy targets, helping reduce the nation’s carbon footprint and create jobs in Solapur.
In addition to Chhatrapati Shivaji Maharaj Saur Urja Park (CSMSUP), Hazoor Multi Projects Limited is also planning solar hybrid projects in Maharashtra (1,200 MW) and Andhra Pradesh (500 MW), further supporting India’s renewable energy future.
Management Commentary
Robert Moses, Director of Hazoor Multi Projects Ltd, said: “The development of Chhatrapati Shivaji Maharaj Saur Urja Park marks a significant milestone in HMPL’s journey in India. This project highlights our commitment to transforming India into a global leader in renewable energy. We are eager to expand our renewable power generation capacity and are excited to open more facilities across the country in the coming years.”
Financials
The company’s revenue rose by 115 percent from Rs 71.45 crore to Rs 153.72 crore from the previous quarter. Meanwhile, Net profit rose from Rs 9.46 crore to Rs 11.02 crore during the same period.
Written by Sridhar J
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