Shares of Emami Realty hit a 5 percent upper circuit at Rs 101.35 on November 28 after announcing plans to develop 22 million square feet (msf), expected to generate Rs 15,000 crore in revenue.
So far this year, the stock has fallen over 11 percent, underperforming the Nifty 50’s 10 percent gain. The stock saw a 25 percent rise in August but has delivered negative returns since September.
The development plan includes 19 msf of residential projects worth Rs 9,000 crore and 3 msf of commercial projects worth Rs 1,000 crore. Around Rs 4,500 crore will be invested in Bengal, while Rs 5,500 crore will go to projects in Uttar Pradesh, Jharkhand, Odisha, and Tamil Nadu.
Key upcoming projects in Bengal include Emami Aamod in Joka and Konnagar, with ongoing developments like Emami Aastha and Emami Business Bay. Outside Bengal, major projects include Emami Tejomaya Phase II in Chennai and Emami Aerocity in Coimbatore.
Emami Realty, part of the Emami Group, focuses on residential, retail, and commercial projects and has developed 3.7 crore square feet across India and Sri Lanka.
In Q2FY25, the company narrowed its net loss to Rs 13.3 crore from Rs 21.3 crore a year ago. Revenue from operations stood at Rs 6 crore, slightly lower than Rs 6.8 crore reported last year.
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Source: Moneycontrol
News Desk
