Shares of Emami Realty Ltd. surged to a 5% upper circuit at Rs 101.35 on November 28 after the company announced an ambitious Rs 10,000 crore investment plan for a 22 million square feet (msf) development. The projects are expected to generate Rs 15,000 crore in revenue.
Investment Highlights:
- Residential and Commercial Development:
- 19 msf residential projects worth Rs 9,000 crore.
- 3 msf commercial projects worth Rs 1,000 crore.
- Geographic Allocation:
- Bengal: Rs 4,500 crore allocated, with key projects such as Emami Aamod in Joka and Konnagar.
- Other states (Uttar Pradesh, Jharkhand, Odisha, Tamil Nadu): Rs 5,500 crore allocated, with major projects like Emami Tejomaya Phase II in Chennai and developments in Jhansi and Raghunathpur Jali.
Stock Performance:
Despite the announcement, year-to-date (YTD), Emami Realty’s stock is down over 11%, underperforming the Nifty 50’s 10% gain. The stock saw a 25% rise in August but has delivered negative returns since September.
Ongoing Projects:
- In Bengal: Emami Aastha in Joka and Emami Business Bay in Sector V.
- Outside Bengal: Emami Nature in Jhansi and Emami Aerocity in Coimbatore.
Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
