Realty Stock Declares 20% Final Dividend For FY25; Eyes Expanding Into New Business Segments

Hazoor Multi Projects Ltd is a small-cap company in the real estate sector with a market cap of Rs 986 Cr.

The company has declared that the meeting of the Board of Directors of Hazoor Multi Projects Limited is scheduled to be held on Monday, June 16, 2025 to consider, "to strategically expand into new and emerging business segments, including through the acquisition of company engaged in high-growth and future-oriented sectors, that align with the company's long-term growth objectives, capitalizing on opportunities in rising sectors to drive enhanced profitability, sustained success, and seamless integration with existing capabilities and expertise, and accordingly alteration/modification in 'Object Clause' of Memorandum of Association of the Company," as per a regulatory filing.

"Further, this is to inform you that in accordance with the Code of Conduct for Regulating, Monitoring, and Reporting of Trading by Insiders and Code of Practices and Procedures for Fair Disclosure in respect of securities of company and pursuant to the SEBI (Prohibition of Insider Trading) Regulations, 2015 as amended from time to time, the trading window for dealing in the securities of the company will remain closed for all directors, officers, Designated employees and immediate relatives of respective persons aforementioned from 07th June 2025 till 18th June, 2025," Hazoor Multi Projects informed stock exchanges.

For the 2024-2025 fiscal year, Hazoor Multi Projects has recommended a final dividend to shareholders of Re.0.20/-per equity share with a face value of Re. 1/-, or 20%. Both the final dividend and the shareholders' approval at the company's upcoming Annual General Meeting (AGM) are contingent upon the Board of Directors' recommendation.

"The Company shall inform the Stock Exchange(s) in due course about the date of AGM for financial year ended March 31, 2025, record date / dates of book closure for purpose of entitlement of final dividend and date from which the final dividend will be paid, once approved by shareholders," Hazoor Multi Projects said in a regulatory filing.

A significant Engineering, Procurement & Construction (EPC) contract given by M/s. Apollo Green Energy Limited (AGEL), formerly known as Apollo International Limited, has seen more advancements, which Hazoor Multi Projects Limited (HMPL) has formally announced. A 200 MW grid-connected solar PV power project in Gujarat has been assigned to HMPL as part of the NHPC program, according to a recent stock market notification. GSECL's RE Solar Park in Khavda (Stage 3) will host the project, which has a broad scope that includes solar power plant design, engineering, supply, construction, installation, testing, and commissioning. An estimated Rs 913 crore is the overall contract value.

On top of an already robust FY 2024 backlog, Hazoor Multi Projects (HMPL) dynamically expanded its order book for FY 2025 (April 1, 2024 - March 31, 2025) by taking on multiple additional contracts. With a healthy Rs 1,009 cr backlog going into FY 25, HMPL was able to acquire about Rs 192 cr in new orders throughout the course of the year. Long into FY26, the resulting cumulative order book of almost Rs 1,200 cr provides certainty on execution.

With equity reserves of over Rs 391 crore and modest exposure to debt, the business had a strong balance sheet, which supported a favorable return profile. During the year, return on capital employed (ROCE) was 14.1% and return on equity (ROE) was around 11.5%. In comparison to its counterparts in the infrastructure industry, Hazoor Multi Projects is seen as being fairly valued, with a price-to-book value of 2.1-2.2× and a price-to-earnings ratio of about 22×.