Maharashtra Corporation real estate mega project
The strategic location for the commercial project places the company in a vantage point within a rapidly growing real estate market, potentially leading to increased visibility and demand.
Maharashtra Corporation Ltd has announced the completion of payments for plots in Naranpura, Ahmedabad, earmarked for a commercial project where the average property rates are anywhere between Rs 33,000 /sqft to Rs 56,000 / sqft. Situated in a prime commercial locale and near Sardar Vallabhbhai Patel Stadium, it is expected to generate revenue of around Rs 120 crores from sales post-development.
The strategic location for the commercial project places the company in a vantage point within a rapidly growing real estate market, potentially leading to increased visibility and demand.
The company's strategic foray into the real estate sector, combined with its robust fundamental indicators, positions it well for future growth. The recent announcement regarding the Ahmedabad commercial project indicates that the company is proactively capturing emerging market opportunities, promising significant revenue streams ahead.
Meanwhile, the net profit of Maharashtra Corporation rose 8.89 per cent to Rs 0.49 crore in the quarter ended December 2023 as against Rs 0.45 crore during the previous quarter ended December 2022.
Sales rose 10.00 per cent to Rs 0.55 crore in the quarter that ended December 2023 as against Rs 0.50 crore during the previous quarter ended December 2022.
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