Multibagger Penny Stock Below Rs 5 Ventures Into Green-Enviro-Friendly Infrastructure Development Projects

Vikas Ecotech has announced plans to venture into the arena of green-enviro-friendly infrastructure development projects. The company has collaborated with Estate Projects for the project.

Estate Projects is engaged in real estate development of commercial and residential Projects in Delhi-NCR. It has vast experience of more than 30 years in the field of residential, commercial and hospitality segments of the real estate development business.

"Vikas Ecotech Limited entered a collaboration arrangement wherein the company will be inducing 75% of the total project cost as the collaborator. The estimated project cost of targeted projects is about Rs 500 million, including the cost of lands as well as the costs to be incurred for the construction and development of commercial buildings at 2 locations in Gurugram," it said in a filing.

Vikas Ecotech Limited has induced Rs 150 million during July 2023 in lieu of the payments accrued towards the land parcels in the ongoing investments in Delhi/NCR, the remaining contribution of Rs 225 million will be induced at appropriate stages in the project development.

Vikas Ecotech is a New Delhi based company, engaged in the business of specialty polymers and specialty additives and chemicals for plastics and rubbers industries, catering to a wide horizon of applications in Agriculture, Infrastructure, packaging, electrical, footwear, pharmaceuticals, automotive, medical devices and components and other consumer goods.