Crest Ventures shares skyrocketed 10 percent in the afternoon session on September 26 after the firm announced it has nine projects in the works.
Out of the nine projects announced, six of the projects have a combined sales expectation of Rs 5,910 crore. This is over two times higher than the market capitalisation of this realty player, which clocks in at Rs 1,600 crore.
At 1.30 pm, Crest Ventures stock price was trading at Rs 572.7 per share, up 7.8 percent on the NSE as compared to the previous session's close.
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The firm operates in the Financial Services as well as the Real Estate sectors. It has five ongoing realty projects in various stages of development across geographies.
"In our Real Estate practice, we build high-quality residential and commercial assets with a focus on design, planning and execution," said the company. The group has successfully developed and delivered over 12 million square feet in the form of residences, commercial buildings, malls and townships in Mumbai, Chennai, Kolkata and Raipur.
For the quarter ended June 2024, the firm posted a total income of Rs 65.16 crore, as against Rs 24.61 crore in the same quarter in the previous year. The profit clocked in at Rs 45.45 crore for the first quarter of the current fiscal, up from Rs 8.23 crore last year.
Over the past year, shares of Crest Ventures have skyrocketed 150 percent, more than doubling investors' capital. In comparison, the benchmark Nifty 50 has soared 33 percent during the same time.
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