Share price of this small-cap multibagger stock jumped by nearly 4.53% on BSE to Rs. 337.45 in the morning trading session of March 20th, from its previous close of Rs. 322.8, after the company announced receiving a contract.
With a market capitalisation of Rs. 1,636.4 crores, at 11:38 a.m., the shares of EFC (I) Limited were trading in the green at Rs. 330, up by nearly 2.23%.
The company has delivered about 105.6 percent of multibagger returns in the last one year and nearly 48.5 percent of positive returns in the last six months. However, it has given negative returns of around 10.4 percent, so far in 2024.
According to recent regulatory filings with the BSE, EFC Limited, a wholly-owned subsidiary of EFC (I) Limited, was awarded a contract for the supply, installation, testing, commissioning and handing over of interior, MEP and Allied Works at TCS Limited, IIT Delhi Research & Innovation Park, New Delhi.
The company will associate with Tata Consultancy Services (TCS) to provide services for Interior, MEP (Mechanical, Electrical and Plumbing) and Allied Works at IIT Delhi Research & Innovation Park, New Delhi.
The company has started the work of mobilisation of resources to complete the project within the specified timeframes.
In addition, on the same day, the company incorporated a subsidiary company namely “EK Design Industries Limited” and received a Certificate of Incorporation from the Ministry of Corporate Affairs.
The objective of the proposed incorporation is to carry on business of manufacturing furniture, which is in line with EFC (I) Limited and its other subsidiaries’ business of providing serviced offices and interior solutions.
In terms of financials, the company’s revenue from operations grew by 75.5 percent QoQ from Rs. 98 crore in Q2 FY23-24 to Rs. 172 crore in Q3 FY23-24, accompanied by an increase in net profit of 90.9 percent from Rs. 11 crore in Q2 FY23-24 to Rs. 21 crore in Q3 FY23-24.
EFC (I) Limited (Entrepreneurial Facilitation Centre), formerly known as Amani Trading and Exports Limited, is the leading real estate management firm in India and is engaged in the business of leasing office spaces.
Written by Shivani Singh
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