The shares of a small cap Infrastructure developer that recently ventured into renewable energy are in focus after it proposed its plan to set up a 500 MW solar project in Andhra Pradesh at an investment of Rs 2,500 Crores.
Share Price Movement
The shares of Hazoor Multi Projects Ltd, with a market capitalization of Rs 1,114.28 Crores, were trading flatter on Monday Noon, at Rs 53.65 per share. The shares generated a 37% return in the past 6 months, 48% returns in the past 1 year, 1,622% in the past 3 years, and generated an impressive return of 35,400% in the past 5 years.
What Happened
As per Media Reports, Hazoor Multi Projects Limited which recently ventured into the renewable energy sector plans to set up a 500 MW solar project in the Prakasam district of Andhra Pradesh. The company plans to invest Rs 2,500 Crores in the solar project and has already submitted a proposal to the Andhra Pradesh government, covering an area of 2,000 acres.
The AP government has said that NREDCAP ( New & Renewable Energy Development Corporation) will assist in the progress of the successful execution of proposed solar projects. The company will submit its detailed project report (DPR) shortly as requested by the government.
On January 27, 2025, the company announced its entry into India’s green energy sector with the development of Maharashtra’s first solar park, Chhatrapati Shivaji Maharaj Saur Urja Park (CSMSUP). The 1.2 GW solar park, located in Solapur district, will span 4,200 acres and feature 750-watt capacity solar panels. This project is a collaboration with a leading UK multinational company.
Financials
The company’s Revenue from Operations increased by 119% from Rs 70 Crores in Q1FY25 to Rs 153 Crores in Q2FY25. Its Net Profits rose by 16% from Rs 9.5 Crores to Rs 11 Crores during the same period.
Renewable Energy Sector
India’s energy demand is set to grow rapidly, driven by its size and development potential, requiring a shift to low-carbon, renewable sources. The country aims for net zero emissions by 2070 and 50% renewable electricity by 2030, contributing to global climate efforts. With government support and improved economics, the renewable sector has become increasingly attractive to investors.
About Hazoor Multi Projects Ltd
Hazoor Multi Projects Ltd. is a leading player in the Indian infrastructure sector, specializing in a diverse range of projects including road construction, bridges, flyovers, and other civil engineering works. With its recent venture into renewable energy, the company is now developing Maharashtra’s first solar park.
Written By Adhvaitha Nayani
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