Penny Stock Under Rs 3: KBC Global Ltd Delivers Over 135 Units and Launches New Project
Penny Stock Under Rs 3: KBC Global Ltd, a leading real estate developer, has successfully handed over possession of over 135 residential and commercial units since April 2024 and is set to launch its next project in Deolali, Nashik.
Penny StockReal EstateKbc GlobalDeolali ProjectNashikReal EstateOct 10, 2024
In September 2024 alone, KBC Global successfully handed over 13 units from its ongoing projects, including Hari Kunj Mayflower, Hari Krishna Phase IV, Hari Vishwa, and Hari Sanskruti Phase II. Since April 2024, the company has handed over a total of 135 residential and commercial units in Nashik, Maharashtra. This includes 91 units from the Hari Kunj Mayflower project and 28 units from the Hari Krishna Phase IV project, among others.
KBC Global is not just focusing on the domestic market. The company is expanding internationally with a USD 12.5 million project in Liberia’s Special Economic Zone (SEZ). This project, developed by KBC International Ltd, a subsidiary of KBC Global, will include both residential and commercial spaces. Construction is set to begin in Q2 2025 and is expected to be completed in three years. This move follows a $20 million contract with CRJE (East Africa) Ltd, part of the China Railway Construction Group, signed in June 2024.
In terms of financials, KBC Global has made significant strides. The company recently made a key payment to Capri Global Capital Ltd, reducing its debt to Rs 3.50 crore. Additionally, KBC Global signed an agreement with Capri to waive non-financial penal interest, further strengthening its financial position.
Founded in 2007, KBC Global has a track record of completing and delivering high-quality projects. In 2024 alone, the company has completed 125 units and continues to grow its presence in Nashik’s real estate market. The appointment of Mr. Muthusubramanian Hariharan as CEO in July 2024 has bolstered the company’s strategic focus on quality and sustainable development. KBC Global's ongoing projects and strategic partnerships demonstrate its commitment to creating value and contributing to economic growth.
KBC Global Ltd is a micro-cap stock trading at Rs 2.23, with a market cap of Rs 380 crore. The stock has given returns of 21 per cent in a month and is trading at 0.27 times its book value. The company is expected to perform well in the coming quarter and is almost debt-free.
Investors should keep an eye on this penny stock as it presents a promising investment opportunity. However, it is important to note that the article is for informational purposes only and not investment advice.
Frequently Asked Questions
What is the current stock price of KBC Global Ltd?
KBC Global Ltd is currently trading at Rs 2.23.
How many units has KBC Global delivered since April 2024?
KBC Global has delivered over 135 residential and commercial units since April 2024.
What is the scope of KBC Global's new project in Deolali, Nashik?
The new project in Deolali, Nashik, will span a 31,998 sq. ft. area and include both residential and commercial spaces with six commercial units and twenty-two residential units.
What international projects is KBC Global undertaking?
KBC Global is expanding with a USD 12.5 million project in Liberia’s Special Economic Zone (SEZ) and a $20 million contract with CRJE (East Africa) Ltd, part of China Railway Construction Group.
What financial improvements has KBC Global made recently?
KBC Global has reduced its debt to Rs 3.50 crore by making a key payment to Capri Global Capital Ltd and has signed an agreement to waive non-financial penal interest.
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