Karda Constructions Ltd. Board of Directors Recommend Issuance of Bonus Shares in 4:1 Ratio

Karda Constructions Ltd. Board of Directors Recommend Issuance of Bonus Shares in 4:1 Ratio

Nashik (Maharashtra) [India], July 16: BSE & NSE listed Karda Constructions Ltd. (KCL) (BSE: 541161; NSE: KARDA), is a leading real estate developer. In a board meeting held on 14 July 2021, the company’s board of directors has recommended the issuance of bonus shares in the ratio of 4:1, i.e. four equity shares for every one fully paid-up equity share of Rs.1/- each, subject to the approval of shareholders. The company will inform in due course the “Record Date” for determining shareholders entitled to receive Bonus Shares.

As the board of directors has recommended the subdivision of the face value of shares from Rs.2/- to face value of Rs.1/- in its meeting on May 31, 2021, the consent for the members for both matters will be sought forthcoming AGM.

Earlier last month, the Company had announced excellent results for the quarter and year ended 31st March 2021. The company had reported a jump of 240% in its net profit for the 4th Quarter (Q4) of FY 20-21 on a QoQ basis on the back of a strong recovery in the real estate sector post the ease in lockdown measures. The company’s net profit increased to INR 12.65 crores in Q4 FY 21 from INR 3.74 Crores in Q3 FY 21 showing significant growth of 240%.

For the year ended 31st March 2021, The Total Revenue of the company increased to INR 128.46 Crores in FY 21 from INR 118.33 Crores in FY 20 showing a growth of 8.50%. Net Profit saw a huge improvement in FY21 and stood at INR 20.18 crore (FY21) as compared to INR 9.55 crore (FY20), an increase of111%. EPS also grew to INR 3.28 (FY21) from INR 1.55 (FY20).

The company’s business activity falls within two business segments – Development of Real Estate Properties and Civil Contracting Business.

Karda Constructions Ltd is a First-Generation Construction Company in Maharashtra and Western India with a disciplined and professional approach. The Company is founded and promoted by Mr. Naresh Karda in the year 2007. Promoter has an experience of more than 25 years in the construction industry. The company has established a brand name as “Hari” for all its projects. The Company has received an Award for the “Iconic Budget Home” by Times Realty Icons Award 2019, Navi Mumbai & Thane. The Company also received an Award for the “The Most Preferred Real Estate Company”, of Nashik at the event“My Maharashtra Awards-2019”.

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