During Thursday’s trading session, the shares of a company engaged in the real estate market in both residential and commercial projects surged 4.9 percent to Rs. 135.85 on NSE, after the company announced securing an order worth nearly Rs. 114 crores for an underground sewerage system.
With a market capitalisation of Rs. 279.7 crores, the shares of V R Infraspace Limited are currently trading in the green at Rs. 315 on NSE, as against its previous closing price of Rs. 300.3.
What’s the News
According to the latest regulatory filings with the NSE, V R Infraspa Limited entered into a Memorandum of Understanding (MOU) with Kevadiya Construction Private Limited for a project valued at Rs. 114.23 crores.
The order involves the execution of the entire project by providing an underground sewage system in left-out and uncovered areas, as per the work order issued by Dindigul City Municipal Corporation, Tamil Nadu. The project is scheduled for completion by 10th June 2027, unless terminated earlier as per mutually agreed terms.
In addition, V R Infraspace Limited has entered into a Rental Agreement to set up branch office premises for its Government Contractors/S Contractors business. The rental agreement takes effect from 28th January 2025 and will remain valid until 27th January 2026.
Recent Developments
27th January 2025: V R Infraspace completed the acquisition of a 70% stake in Daxon Industries Private Limited (DIPL), formerly known as Daxon Aluminium Private Limited, for a cash consideration of Rs. 56,000. As a result, DIPL has now become a subsidiary of V R Infraspace.
DIPL is engaged in the manufacturing a wide range of textile products including wholesale distribution of textiles, fabrics, yarn, household linen, clothing articles, floor coverings, and sportswear. Additionally, DIPL al operates retail sales of textiles in specialized stores.
Financials
V R Infraspace reported a significant growth in the revenue from operations, experiencing a rise of nearly 80 percent YoY, increasing from Rs. 7.3 crores in H1 FY24 to Rs. 13.14 crores in H1 FY25.
Similarly, during the same period, the company’s net profit increased fr Rs. 1.04 crores to Rs. 1.7 crores, representing a growth of around 63.5 percent YoY.
About the Company
Incorporated in 2013, V R Infraspace Limited is primarily engaged in the business of real estate and supervisory services to contractors.
Written by Shivani Singh
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