Shares of this multibagger real estate stock hit its 5 percent upper circuit and currently trades flat in Tuesday’s trading session after the company intimated about its foray into the ‘Waste Management’ business. In this regard, the company, too, entered into a couple of strategic MOUs with companies in the same category.
With a market capitalization of Rs 550.03 crores, the stocks of Vishnusurya Projects and Infra Limited started their trading session on Tuesday at Rs 225 and currently trade at Rs 223.50. The company’s scrip witnessed an intra-day high price of Rs 233.90 hitting its 5 percent upper circuit compared to the previous close of Rs 222.80 apiece.
Such sharp movements in the share price were observed today after the company, through a recent regulatory filing with the National Stock Exchange (NSE), intimated about the company’s foray into the ‘Waste Management’ business.
With regards to the same, the real estate company has also signed strategic MOUs with pioneers in the category, viz, ‘Hitachi Zosen India Private Limited’, a leading global technology provider and contractor in the field of Waste to Energy facilities and ‘AG Enviro Infra Projects Private Limited’.
The MOU mentioned above will allow the partners for a significant and pathbreaking integrated waste management project. The first project is estimated to include an ‘integrated waste management’ project at Chennai with an estimated value of Rs1,268 crores with an operations and management (O&M) period of around 20 years.
Keeping a purview of the past one year, the company’s stock has delivered multibagger returns of approximately 205 percent, i.e., if someone had invested Rs 1 lakh into the company’s stock a year ago, it would have converted to Rs 3.05 lakhs.
The company’s stock was recently listed on the exchange and the available annual data of the company portrays its prime business indicators, including the operating revenues and after-tax profits, showing some positive movements.
The former rose from Rs 76 crores during FY21-22 to Rs 132 crores during FY22-23, and the latter, during the same period, more than doubled from Rs 8 crores to Rs 17 crores.
In addition, the company’s historical ratio analysis shows decent numbers with the return on equity (RoE) reported at 30.86 percent and the return on capital employed (RoCE) at 32.46 percent during FY23.
Incorporated in 1996, Vishnusurya Projects and Infra Limited is an India-based company operating through various business segments, viz, construction & real estate, mining, and technical consultancy services.
Written by Amit Madnani
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