Dhani Services moves up on inking MoU to develop real estate projects
Dhani Services is currently trading at Rs. 61.57, up by 2.21 points or 3.72% from its previous closing of Rs. 59.36 on the BSE.
The scrip opened at Rs. 62.26 and has touched a high and low of Rs. 64.16 and Rs. 61.03 respectively. So far 408519 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 109.85 on 03-Jan-2025 and a 52 week low of Rs. 36.99 on 04-Jun-2024.
Last one week high and low of the scrip stood at Rs. 64.16 and Rs. 54.11 respectively. The current market cap of the company is Rs. 3748.18 crore.
The promoters holding in the company stood at 29.13%, while Institutions and Non-Institutions held 22.51% and 48.36% respectively.
Dhani Services, through its wholly owned subsidiary company, has executed Memorandum of Understanding (MoU), with certain land owners on 5.37 acres in Sector 104, Gurgaon, to develop real estate projects, which shall be subject to registration with Real Estate Regulatory Authority and other applicable regulatory approvals.
This MoU will expand its 100% owned ongoing project ‘Indiabulls Estate & Club’ in Sector 104, Gurgaon from 24 acres to 29.37 acres. The aggregate development on 29.37 acres will be 70.8 lacs sq. ft. and thus the expected revenue basis current selling prices in the project would be around Rs 12,065 crore.
Dhani Services, along with its subsidiaries and associate, primary businesses are ‘Real Estate development and related activities’, ‘Broking and Related activities’, ‘Financing, Digital wallet services and related activities’, ‘Asset Reconstruction and Related activities’ and ‘E-Commerce and related activities’.
