Emami Realty surges on aiming 50% jump in sales in FY23
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Emami Realty is currently trading at Rs. 59.35, up by 1.05 points or 1.80% from its previous closing of Rs. 58.30 on the BSE.
The scrip opened at Rs. 59.55 and has touched a high and low of Rs. 59.55 and Rs. 59.00 respectively. So far 1287 shares were traded on the counter.
The BSE group 'B' stock of face value Rs. 2 has touched a 52 week high of Rs. 106.00 on 27-Dec-2021 and a 52 week low of Rs. 53.05 on 11-May-2022.
Last one week high and low of the scrip stood at Rs. 59.55 and Rs. 56.00 respectively. The current market cap of the company is Rs. 224.04 crore.
The promoters holding in the company stood at 63.46%, while Institutions and Non-Institutions held 0.14% and 36.40% respectively.
Emami Realty is aiming at a 50 per cent jump in sales to Rs 750 crore in the current fiscal (FY23) as against nearly Rs 500 crore sales achieved in FY22. The company has targeted retiring its long-term debt by 2023-24, which is now pegged at Rs 118 crore. The developer, which has a land bank of around 2,500 acres in 7-8 cities in the country, will leverage the resource for new projects and explore monetisation of a part of it in the next few years.
Emami Realty, formerly Emami Infrastructure is a holding company engaged in construction and real estate development. The Company's primary business is development of residential, commercial and retail properties through its subsidiaries and associates.
