On Wednesday, the share price of the small-cap company rose up to 3.5% to its intraday high of ₹241 per share from its previous close of ₹232.8 after Pinnacle Investments sold 21.43 lakh equity shares through the bulk deal.
Pinnacle Investments sold 21.43 lakh equity shares (0.43% of D B Realty) in the real estate developer through open market transactions at an average price of ₹ 233.65 per share, totaling ₹ 50.09 crore, as per the Nse Bulk deal.
Net revenue of D B Realty Ltd increased by 580% year over year, from ₹10 crore in Q2FY23 to ₹68 crore in Q2FY24. Their revenue rose by 3300% sequentially from ₹2 crore in Q1FY24 to the current levels.
Furthermore, the company’s net profit increased by 57% year on year, from ₹566 crores in Q2FY23 to ₹894 crores in Q2FY24. Their quarterly profit increased by 3538% from a net loss of ₹26 crore in Q1FY24 to current levels.
The share price of D B Realty has increased by 215 percent in the last six months and 152 percent in the year to date. For instance, if an investor invested Rs 1 Lakh six months ago the current value would be 3.15 lakhs.
D B Realty Limited has a market capitalization of Rs 9,300 crores. The company has a low price-to-earnings ratio of 64, with a low debt-to-equity ratio of 0.42, however, a return on equity, a return on capital employed, and a net profit margin remain negative.
The promoters own 53.8 percent of the company, with 2.17 percent owned by foreign institutional investors, 43.96 percent owned by the general public, and 0.04 percent owned by domestic institutional investors.
D B Realty Limited was founded in 2007 and its main business is real estate construction, development, and related activities. The majority of the projects are in or near Mumbai, and they are at various stages of planning and construction.
Written by Sriram KV
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