Croissance Limited's Realty Stock Surges 20% After Securing ₹500 Million Contract
The micro-cap stock has received a contract to construct premium villas in Nandi Hills, Bengaluru, which will strengthen its order book and enhance its reputation as a quality real estate developer.
Croissance LimitedRealty StockBengaluru MarketMicrocap StockFinancial PerformanceReal Estate NewsAug 19, 2024
In Monday's trading session, the shares of Croissance Limited hit 20 percent upper circuit reaching ₹5.41 per share from its previous close of ₹4.51.
The company 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.
Additionally, the company's Price to Earnings ratio of 742 exceeds its market capitalization of ₹37.1 crore, indicating financial instability.
As per the shareholding composition of June 2024, the promoters of Croissance Limited hold a 59.75 percent stake, while retail investors hold 40.25 percent stake.
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.
About Croissance Limited: Croissance Limited is a micro-cap stock engaged in realty operating services and trading in infrastructure materials.
Croissance Limited has a significant presence in the Bengaluru real estate market, with a focus on constructing residential properties such as luxury villas. Croissance Limited is a leading player in the real estate development and financial services sectors, with a strong presence in Bengaluru.
Frequently Asked Questions
What is the name of the company that received a contract to construct premium villas in Nandi Hills, Bengaluru?
Croissance Limited
What is the value of the contract received by Croissance Limited?
₹500 million
What is the business segment of Croissance Limited that focuses on constructing residential properties such as luxury villas?
Real estate development
What is the Price to Earnings ratio of Croissance Limited?
742
What is the market capitalization of Croissance Limited?
₹37.1 crore
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