On Tuesday, the share price of this micro-cap stock surged 1.8 percent on BSE to hit an intraday high at Rs. 101, after the company announced plans to develop India’s first 7-star Resort with up to Rs. 55 crore investment.
With a market capitalisation of Rs. 523.3 crore, the shares of Bharat Agri Fert & Realty Limited opened at Rs. 101, compared to its previous closing price of Rs. 99.19.
What’s the news:
According to the latest regulatory filings with the Bombay Stock Exchange (BSE), Bharat Agri Fert & Realty announced plans to develop India’s first 7-star Resort on the outskirts of Mumbai.
This expansion will utilise surplus freehold land at its existing Anchaviyo resort, with at an estimated cost of Rs. 50-55 crores. The company presently operates 80 luxurious theme-based rooms at the same location.
The 7-Star Resort project will operate under the Anchaviyo brand, renowned as India’s first premier unique theme-based resort.
By 2025-2026, the company aims to launch an additional 170 rooms, alongside an advanced banquet hall and upgraded amenities within the 120-acre freehold land.
The project is planned in line with Prime Minister Narendra Modi’s vision, the ‘WED IN INDIA’ initiative. Further, the company has also announced plans to enhance its focus on the hospitality sector over the next 2-3 years.
“We are intensifying our focus on the hospitality sector. This world-class infrastructure is expected to attract business travellers and high-end yachting enthusiasts. The Vadhavan port presents a tremendous opportunity,” the company’s Chairman and Managing Director commented.
Financial & Stock Performance:
In terms of financials, the company’s total revenue from operations fell by 32.2 percent YoY from Rs. 7.44 crore in Q4 FY22-23 to Rs. 5.04 crore in Q4 FY23-24, however, the net profit increased from a loss of Rs. 2.23 crore to a profit of Rs. 5.5 crore, during the same period. The stock has delivered negative returns of nearly 18.3 percent in one year, but around 4 percent of positive returns year-to-date.
As of March 2024, the shareholding pattern of Bharat Agri Fert & Realty shows that the Promoters hold 67.91 percent in the company, while the retail investors hold a 32.09 percent stake in the company.
About the company:
Established in 1962, Bharat Agri Fert & Realty Limited is principally engaged in the business of construction and development of residential and commercial complexes, manufacture of fertilisers, and hospitality sector resorts.
In the fertilizer business, the company is temporarily leasing out its assets to address supply chain disruptions, fostering potential future manufacturing operations, while the Realty segment focuses on a landmark project in Thane City.
Written by Shivani Singh
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