The shares of a Micro-Cap company, specializing in residential and commercial projects, particularly within the mid-market and affordable housing segments, jumped upto 9 percent upon announcing a merger and migration to the main board of BSE and NSE.
With a market capitalization of Rs. 519.17 crores on Wednesday, the shares of Modis Navnirman Limited jumped upto 9 percent, making a high of Rs. 271.95 per share compared to its previous closing price of Rs. 248.60 per share.
Modis Navnirman Limited, engaged in residential and commercial projects, particularly within the mid-market and affordable housing segments, has announced that its Board of Directors has approved the company’s migration from the BSE SME platform to the main boards of both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE)
Along with it, has announced a merger with its wholly-owned subsidiary, Shree Modis Navnirman Private Limited. This strategic step marks a significant milestone in the company’s growth, reflecting strong financial performance and corporate governance, and is expected to provide access to a broader investor base, increased market participation, and enhanced shareholder value.
Mr. Dinesh Modi, Chairman and MD, Modi’s Navnirman Limited, stated that: We are excited to take this important step in our journey as a public company. The migration to the Main Board of BSE and NSE signifies our commitment to transparency and governance. This transition to the Main Board is a testament to the confidence our investors and stakeholders have placed in us. The merger is a strategic step towards creating a more efficient and unified organization. We believe this consolidation will strengthen our core operations, optimize resource utilization, and position us better for future growth.
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Financials & Others
The company’s revenue rose by 35 percent from Rs. 37 crore in H1FY25 to Rs. 50 crore in H2FY25. Meanwhile, Net profit increased from Rs. 5 crores to Rs. 8 crores during the same period.
The company’s PEG ratio of 0.03 and low debt-to-equity ratio of 0.03 indicate the stock may be undervalued and financially sound. Additionally, it has shown strong growth, with average 3-year revenue and net profit increases of 85.95 percent and 99.77 percent, respectively.
Modis Nav Nirmaan is embodied by its establishment as a leading real estate developer, founded by Mr. Dinesh C. Modi in 2010. The company’s diversification into real estate is supported by a four-decade legacy in the jewellery industry, and its emergence as one of the most valuable developers in the country has been achieved through unwavering commitment, trust, innovation, and a vision to create homes with care.
Modi’s Nav Nirmaan has established itself as a leader in a short period by delivering large, luxurious, holistic, and successful projects. Responsible innovation is promoted, and the lifestyles of customers are continuously upgraded by the company.
Written by Sridhar J
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