The Shriram Properties acquired 4 acre land in the Bengaluru for project of 270 apartment building with saleble area of 3.8LSqft. The revenue is projected for Rs.250 cr and this company has already 51 projects in the pipeline and 51MSQFT with aggregate of 21MSQFT in the ongoing projects. This Bengaluru Project will completed in the 3 years of time.
SHRIRAM PROPERTIES Market price is moving in Ascending Triangle and market has fallen from the resistance area of the pattern
On May 21, the share price of Shriram Properties surged nearly 3 percent intraday following the company’s announcement of signing a joint development agreement for a four-acre land parcel in Bengaluru.
According to an exchange filing by the company, the agreement entails the development of a prime four-acre land parcel situated in the sought-after micro market of Yelahanka, Bengaluru.
The proposed project will consist of 270 apartments with a combined saleable area of 3.8 lakh sq ft. It is estimated to generate aggregate revenue of over Rs 250 crore and is projected to be developed over the next three years.
The company aims to launch this project during the first half of the current financial year (H1FY25).
Shriram Properties currently boasts a robust pipeline comprising 47 projects with a saleable area of 51 msf2, including 25 ongoing projects with a combined saleable area of 23.5 msf as of March 31, 2024.
Murali Malayappan, CMD of Shriram Properties, stated, “This investment is in alignment with our goal of increasing our footprint within the city and also highlights our asset-light approach to accelerate growth. Owing to its proximity to the Airport, Yelahanka emerges as a vital micro-market, witnessing significant demand over the last five years. Our foremost priority remains delivering top-notch quality swiftly, ensuring utmost satisfaction for our customers.”
BEL: BEL Stock Surges on Strong Q4; Bullish Brokerages Predict 20% Upside
The BEL reported Robust profit in the March Quarter of Q4FY24, Net profit rises to 30% as Rs.1797 cr and revenue rises to 32% as Rs.8564 cr. The Order book have Rs.30000 cr worth in the defence sector and 5lakh cr volume gets in the next five years is possible from economists side. The cash surplus have Rs.11000 cr will use for further expansion.Overall BEL company is performed well in all regions and satisfied street estimates.
BEL Market price has broken Ascending channel in upside
On May 21, shares of Bharat Electronics Ltd (BEL) surged by 8 percent, reaching a new record high of Rs 283 per share on the National Stock Exchange (NSE). This impressive surge followed the company’s announcement of earnings for the quarter ended March 2024, which surpassed expectations. Key highlights of the earnings report included better-than-expected EBITDA margin, profit after tax (PAT), and robust revenue growth.
The company attributed the strong performance to an increase in order inflows, particularly from upfront orders. BEL reported a remarkable 30 percent year-on-year rise in consolidated net profit, reaching Rs 1,797 crore. Additionally, its revenue from operations surged by 32 percent, totaling Rs 8,564 crore.
Analysts at Motilal Oswal foresee BEL continuing to benefit from India’s defense indigenization potential, estimated at Rs 5 lakh crore over the next five years. They highlighted BEL’s extensive presence across various defense platforms and products, such as radars, simulators, electronic warfare systems, thermal imaging, and border surveillance systems.
The brokerage also emphasized BEL’s efforts to enhance its revenue from exports and non-defense segments, aiming to reduce dependence on domestic defense contracts.
Further strengthening the positive outlook, Motilal Oswal analysts anticipate BEL’s strong operating cash flow and free cash flow to persist over FY24-26, supported by efficient working capital management. With a cash surplus of Rs 11,000 crore as of FY24, the company has ample scope for capacity expansion.
As a Navratna PSU under the Ministry of Defence, Government of India, BEL has demonstrated robust performance, surpassing its FY24 order guidance and securing significant contracts, including a Rs 2,269 crore deal for Shakti warfare systems.
Analysts at Nomura echoed positive sentiments, maintaining a ‘buy’ rating on BEL. They anticipate sustained secular growth driven by the company’s market dominance and increasing project sizes as it ascends the value chain as a system integrator.
Jefferies and Morgan Stanley also expressed confidence in BEL’s prospects, with Jefferies projecting a target price of Rs 305 per share and Morgan Stanley revising its target price upward to Rs 300 per share.
The Large volume of Trade happened today value of Rs.1075 cr exchanged 3.6 cr shares nearly 7.2% of Aptus share value. This Aptus company reported Rs.164 cr profit shown in Q4FY24 compared to Rs.135 cr in the last quarter. Net NPA decreased to 0.80% from 0.86% in the last quarter, Gross NPA stood at 1.07% from 1.14% in the last quarter.
APTUS VALUE FIN Market price is moving in Descending Triangle and market has reached support area of the pattern
On May 21, shares of Aptus Value Housing Finance India witnessed a sharp decline of nearly 5 percent following a significant transaction worth Rs 1,075 crore on the stock exchanges.
The large trade involved the transfer of approximately 3.6 crore shares, constituting a 7.2 percent stake in Aptus Value. However, Moneycontrol was unable to immediately ascertain the identities of the buyers and sellers involved in the transaction.
Earlier this month, the housing finance company reported a notable 21 percent year-on-year increase in its consolidated net profit for the March quarter of FY24, reaching Rs 164 crore compared to Rs 135 crore in the corresponding period of the previous year.
Furthermore, there was an improvement in asset quality, with gross non-performing assets (NPAs) declining to 1.07 percent in Q4 FY24 from 1.145 percent in the year-ago quarter, and net NPAs dropping to 0.80 percent from 0.86 percent in the same period.
In addition to its financial performance, the company’s board approved plans to raise funds through the issuance of Non-Convertible Debentures (NCDs) via private placement, with the total amount not exceeding Rs 2,250 crore.
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