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Hazoor Multi Projects Ltd Shares in Focus Amid OCD Conversion Timeline Revision

Published: March 02, 2026 | Category: real estate news
Hazoor Multi Projects Ltd Shares in Focus Amid OCD Conversion Timeline Revision

Shares of Hazoor Multi Projects Limited are in focus after the company shared key updates with investors in an exchange filing dated February 28. However, amid heavy market selling, the stock was trading at Rs 30.80 on the BSE, down 4.23 per cent, or Rs 1.36, at last count. In its latest filing, the company stated that it intends to convert the optionally convertible debentures (OCDs) of its wholly owned subsidiary, Square Port Shipyard Private Limited, into equity shares. The original plan was disclosed to stock exchanges on January 27, 2026.

The timeline for the acquisition and conversion has now been revised to March 2026. The company clarified that there are no other changes to the previously disclosed information.

CRISIL Ratings for Subsidiary

In a separate filing, the company informed that CRISIL Ratings Limited has assigned ratings to the bank loan facilities of Hazoor Infra Projects Limited, the principal subsidiary of Hazoor Multi Projects Limited. The ratings are related to the company’s Hybrid Annuity Model (HAM) project. CRISIL assigned a BBB+/Stable rating to its long-term facilities of Rs 476 crore and an A2 rating to its short-term facilities of Rs 476 crore.

Rs 182.95 Crore Work Order from Tata Steel

The company recently secured a significant work order from Tata Steel Limited. The project involves the design, engineering, construction and completion of an OPR and NOPR residential colony for employees at TSSIJ, Bileipada (Joda). The development will feature G+9 storey apartment blocks and include civil, architectural, electrical, plumbing, sanitary, fire-fighting, waterproofing, water tank installations, area development and automated lift works. The project will comprise 288 NOPR flats of approximately 900 square feet each and 72 OPR flats of approximately 1,100 square feet each. The total project cost stands at approximately Rs 182.95 crore (excluding GST) and is expected to be completed within 24 months, in accordance with the standards and scope defined by Tata Steel.

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Frequently Asked Questions

1. What is the current trading price of Hazoor Multi Projects Limited shares?
As of the last count, the shares of Hazoor Multi Projects Limited were trading at Rs 30.80 on the BSE, down 4.23 per cent, or Rs 1.36.
2. What is the revised timeline for the conversion of OCDs into equity shares?
The revised timeline for the conversion of OCDs into equity shares of Square Port Shipyard Private Limited is March 2026.
3. What ratings did CRISIL assign to Hazoor Infr
Projects Limited's bank loan facilities? A: CRISIL assigned a BBB+/Stable rating to the long-term facilities of Rs 476 crore and an A2 rating to the short-term facilities of Rs 476 crore.
4. What is the total project cost of the work order from Tat
Steel Limited? A: The total project cost for the work order from Tata Steel Limited is approximately Rs 182.95 crore (excluding GST).
5. What does the project from Tat
Steel involve? A: The project involves the design, engineering, construction, and completion of an OPR and NOPR residential colony for employees at TSSIJ, Bileipada (Joda), featuring G+9 storey apartment blocks and various civil and architectural works.