Croissance Limited Shares Soar 20% After Securing ₹500 Million Contract
Get the book now! This contract will strengthen its order book, enhance its reputation as a quality real estate developer, and potentially lead to more such opportunities in the rapidly growing Bengaluru market.
Croissance LimitedReal EstateBengaluruCivil ConstructionFinancial ServicesReal EstateAug 19, 2024
The shares of Croissance Limited hit 20 percent upper circuit reaching ₹5.41 per share from its previous close of ₹4.51 in Monday's trading session.
On 16th August 2024, Croissance Limited received a contract to construct premium villas in Nandi Hills, Bengaluru by a domestic entity. The domestic civil construction project valued at ₹500 million is set to begin this quarter according to the filings.
This contract will strengthen its order book, enhance its reputation as a quality real estate developer, and potentially lead to more such opportunities in the rapidly growing Bengaluru market. Additionally, this project will significantly boost the company's revenues and profitability, contributing positively to its financial performance.
Croissance Limited is involved in various business segments, including real estate development, where it focuses on constructing residential properties such as luxury villas. Additionally, it has a presence in financial services, engaging in credit portfolio management and stock broking syndication to provide financial solutions to clients. The company is also involved in media-related ventures, although specific details about this segment are less prominent.
The company has experienced a significant decline in financial performance, with both revenue and profit after tax showing substantial decreases. For the year ended March 2024, the company reported revenue of ₹0.66 crore, a substantial decrease from ₹2.6 crore in the previous year. Its profit after tax was ₹0.07 crore, showing an 85 percent decline from ₹0.49 crore year-over-year.
Croissance Limited is engaged in realty operating services and trading in infrastructure materials. The company specialises in turnkey projects for villas and apartments, offering customised wardrobes, entertainment units, modular kitchens, and built-in furniture. It has completed over 350 projects and introduced more than 60 new designs for over 310 clients.
Frequently Asked Questions
What is the contract value secured by Croissance Limited?
₹500 million
What is the location of the premium villas to be constructed by Croissance Limited?
Nandi Hills, Bengaluru
What is the expected impact of the contract on Croissance Limited's financial performance?
Significant boost to revenues and profitability
What are the various business segments of Croissance Limited?
Real estate development, financial services, and media-related ventures
What is the promoter's stake in Croissance Limited?
59.75 percent
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