If riding the latest wave was a competitive sport, BSEL Infrastructure Realty Ltd would surely be among the podium finishers.
This small-cap company, which is into real estate, property and infrastructure development, is seeking to change its name to incorporate the latest buzzword – artificial intelligence.
The Board of Directors at its meeting held on July 25 approved “Changing the name of the company from BSEL Infrastructure Realty Limited to BSEL Algo Limited or BSEL Algo AI Limited or BSEL Artificial Intelligence Limited or BSEL AI Algo Limited or such other name as may be allowed by Registrar of the Companies,” it said in a regulatory filing.
This is not the first time the company is taking this route.
It came into existence in November 1995 as Bell South Enterprises Limited.
In 1998 during the IT boom, the company was renamed BSEL Information System Limited.
This was done “in order to provide IT Services to the clients we served globally”, as per its website.
Then in 2003, at the height of the real estate boom in India, it once again took on a new name -- BSEL Infrastructure Realty Limited.
What's in a name, indeed?
Meanwhile, in another filing, the company said its consolidated net profit for the first quarter of this fiscal stood at Rs 12.80 crore, compared to Rs 7.91 crore in Q1FY23, up 61.82 percent YoY.
Revenue from operations surged 78 percent to Rs 16.48 crore from Rs 9.26 crore in the quarter ended June 2022.
The stock of the company is under SEBI’s Periodic Call Auction framework – which was introduced in 2013 as a measure to reduce volatility in illiquid stocks.
The company’s market capitalisation stands at Rs 118 crore.
As of June 2023, promoters held a 16.45 percent stake in the firm, resident individuals 68.34 percent, and others held the rest.
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