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
Related News Articles
Sharp Rise in Property Prices Across Prime Residential Markets in 2024: PropTiger Report
Amid rising costs of building materials and labor, a new report by PropTiger.com reveals a significant increase in property prices across major cities in India, with Delhi NCR leading the pack.
Surat-Based Real Estate Mogul Lavji Daliya Becomes First Indian to Import Tesla Cybertruck
Surat-based real estate mogul Lavji Daliya has made headlines by becoming the first Indian to import Tesla’s Cybertruck, an electric vehicle from Elon Musk’s innovative lineup. Known for his philanthropic works, Daliya has added another feather to his cap with this futuristic addition to his fleet.
Private Equity Investment in Indian Real Estate Soars 35% to $748 Million in Q4 FY25
Private equity investment in Indian real estate witnessed a significant 35% increase to $748 million in the fourth quarter of the fiscal year 2025, according to data from Savills. The majority of this capital was directed toward major cities like Bengaluru, Mumbai, Pune, and Delhi-NCR.
Puravankara Appoints Deepak Rastogi as Group CFO
Bengaluru-based real estate giant Puravankara Limited has appointed Deepak Rastogi as the Group Chief Financial Officer (CFO), effective January 15, 2025. Neeraj Gautam, the current President of Finance, will take on the role of Deputy Chief Financial Off
NCLT Approves Rs 47-Crore Resolution Plan for HBS Auto & ANC SEZ
The National Company Law Tribunal (NCLT) has approved a Rs 47-crore resolution plan for HBS Auto & ANC SEZ, a company primarily engaged in real estate development and Special Economic Zones (SEZs).
Cyber Conmen Strike Again: Real Estate Broker Loses ₹2.96 Lakh in Credit Card Scam
A real estate broker in Indore was duped of ₹2.96 lakh by cyber fraudsters who promised to create a credit card with no charges and a limit of ₹1 lakh.