Mukul Agrawal inventory jumps 9% after receiving redevelopment mission with income potential of ₹ 2,000 Cr

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Mukul Agrawal inventory with majority enterprise pursuits in Textile & Apparels, Infrastructure and Engineering jumps 9 % within the day’s commerce upon receiving a redevelopment mission with a income potential in extra of Rs. 2,000 crores. 

With a market capitalization of Rs. 17,569.47 Crores, the shares of Raymond Restricted had been buying and selling at Rs. 2,639.10 per fairness share, up 6.86 % from its earlier day’s shut worth of Rs. 2,469.70. 

Raymond Restricted has been chosen because the “Most popular Developer” for the redevelopment of MIG VI CHS Restricted situated in Bandra East, Unfold throughout 2 acres and it’ll pursue this mission publish inner and exterior approvals, as required. That is in keeping with the Firm’s progress plans for Actual Property improvement within the Mumbai Metropolitan Area. 

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The mission is strategically situated in one of the crucial sought-after residential areas of Mumbai and is estimated to have income potential in extra of Rs. 2,000 crores over the mission interval. That is the fourth mission of the corporate in Mumbai Metropolis exterior the present improvement at Thane. 

Ace Investor Mukul Mahavir Agrawal holds a 1.5 % stake within the firm consisting of 10 Lakh Fairness shares. He made a contemporary place within the firm in March 2022, by buying a 1.5 % stake consisting of 10 Lakh fairness shares 

Raymond Restricted is a diversified group with majority enterprise pursuits in Textile & Attire sectors in addition to presence throughout various segments comparable to FMCG, Realty, Engineering and Prophylactics in nationwide and worldwide markets. 

Its varied manufacturers embody Raymond, Park Avenue, ColorPlus, Raymond Able to Put on, Parx, Ethnix, Kamasutra Raymond Residence and Raymond Made to Measure, amongst others. 

In FY24 its Engineering Enterprise forays into dawn sectors of Aerospace, Protection and EV Elements Enterprise by Acquisition of MPPL Enterprise. 

Its Income grew by 21.32 % from Rs. 2,150.18 Crores in Q4FY23 to Rs. 2,608.5 Crores in Q4FY24, accompanied by earnings of Rs. 196.48 Crores to Rs. 229.79 Crores. 

By way of Return ratios, it has reported a return on fairness (ROE) of 44.5 % and a return on capital employed (ROCE) of 30.9 %. It has a debt to fairness ratio of 0.91. 

Written by: Bharath Ok.S 

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