Shares of Emami Realty were stuck in a 5 percent upper circuit of Rs 101.35 on November 28 after the company unveiled plans for a 22 million square feet (msf) development, estimated to generate Rs 15,000 crore in revenue.
Year-to-date, Emami Realty's stock has fallen over 11 percent, underperforming the Nifty 50's 10 percent gain. After a 25 percent jump in August, the stock has delivered negative returns since September.
The development plan includes 19 msf of residential projects, worth Rs 9,000 crore, and 3 msf of commercial projects, worth Rs 1,000 crore. Of the total investment of Rs 10,000 crore, Rs 4,500 crore is allocated to Bengal and Rs 5,500 crore to projects in Uttar Pradesh, Jharkhand, Odisha, and Tamil Nadu.
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In Bengal, key future projects include Emami Aamod in James Long Sarani, Joka, and Konnagar, along with developments at Station Road, Motilal Gupta Road, and Basanti Cotton Mill. Outside Bengal, significant projects include Emami Tejomaya Phase II and Emami Miraai in Chennai, and projects in Jhansi, Govindpur, and Raghunathpur Jali. Ongoing projects in Bengal include Emami Aastha in Joka and Emami Business Bay in Sector V, while ongoing developments outside Bengal feature Emami Nature in Jhansi and Emami Aerocity in Coimbatore.
Emami Realty, a part of the Emami Group, specializes in developing real estate projects across residential, retail, and commercial sectors. With a pan-India footprint, the company has developed over 3.7 crore square feet across West Bengal, Uttar Pradesh, Tamil Nadu, Andhra Pradesh, Odisha, Maharashtra, and even Sri Lanka. These projects are carried out through various Special Purpose Vehicles (SPVs) and Joint Ventures.
In Q2FY25, Emami Realty posted a net loss of Rs 13.3 crore, narrowing from Rs 21.3 crore in the same period last year. Revenue from operations stood at Rs 6 crore, marginally lower than the Rs 6.8 crore reported a year ago.
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