1:10 Stock Split Soon: Hazoor Multi Projects Shares In Green On Winning Rs 274 Cr Project Bid

Hazoor Multi Projects Limited recently made headlines by securing a major contract, valued at Rs 273.74 crore plus applicable GST, from the Maharashtra State Infrastructure Development Corporation (MSIDC). The project involves the widening and improvement of the Paldhi Amalner Dondaicha Nandurbar Dhanora to Gujarat State Border Road (SH-6) on an Engineering, Procurement, and Construction (EPC) basis. This contract, which has no related party transactions or conflicts of interest, is a significant achievement for the Mumbai-based construction firm and is set to be executed over the next 2.5 years.

Hazoor Multi Projects emerged as the lowest bidder (L-1) for this project, which is a notable milestone for the company. In an official exchange filing, the company stated, "We are pleased to inform you that the Company has emerged as the Lowest Bidder for the Project of Maharashtra State Infrastructure Development Corporation (MSIDC)." This success reflects the company's strong position in the competitive infrastructure development sector.

Following the announcement, shares of Hazoor Multi Projects surged by 5 per cent, reaching Rs 402.50 per share, up from its previous closing price of Rs 383.35. This recent price action highlights the market's positive response to the news. The stock's 52-week high stands at Rs 454, while its 52-week low is Rs 115, indicating significant price volatility over the past year. The company's market capitalization has now reached Rs 718.40 crore, according to the Bombay Stock Exchange (BSE).

In addition to winning this significant contract, Hazoor Multi Projects has been making strategic moves to enhance shareholder value. In July 2024, the company's board of directors approved a stock split in a 1:10 ratio. The stock split, which reduces the face value of shares from Rs 10 to Re 1, is aimed at improving liquidity and making the shares more affordable to a broader investor base. While the board has yet to announce the record date for this stock split, the move has already garnered attention from investors.

The company's share price has seen a remarkable rise in recent months. Over the past month alone, the stock has climbed from Rs 342.75 to Rs 402.50, representing a nearly 12 per cent increase. Over the past year, the stock has delivered a staggering 195 percent return to shareholders, rising from Rs 131 to Rs 402.50 per share. Even more impressively, over the past five years, Hazoor Multi Projects' share price has skyrocketed from Rs 1.48 to Rs 402.50, marking an extraordinary gain of over 26,000 per cent.

Established in 1992, Hazoor Multi Projects is a Mumbai-based construction company specializing in infrastructure development and real estate. The company's diverse portfolio includes the development of multi-story residential towers and bungalows, as well as the execution of national highway projects as a sub-contractor for organizations such as the Maharashtra State Road Development Corporation Ltd. and the National Highways Authority of India. As the company continues to expand its presence in the infrastructure EPC contracting sector, its recent successes and strategic initiatives underscore its growth potential and commitment to delivering value to its shareholders.