Akruti City plans to set up 17 warehousing facilities for National Commodity and Derivatives Exchange of India across the country.
The stock hit a high of Rs 1020.50 and a low of Rs 960 so far during the day. The stock had a 52-week high of Rs 1399 on 23 January 2008 and a 52-week low of Rs 607 on 1 July 2008.
The company has an equity capital of Rs 66.70 crore. Face value per share is Rs 10. The company has high promoter holding of 89.96% (as at end June 2008).
The current price of Rs 992 discounts its Q1 June 2008 annualised EPS of Rs 102.79, by a PE multiple of 9.65.
Meanwhile, the derivatives contracts in Akruti City have crossed 95% of the market-wide position limit and are currently in the ban period from today, 24 September 2008.
Besides setting up warehousing facilities for National Commodity and Derivatives Exchange of India (NCDEX), Akruti City also plans to redevelop bus terminals in Gujarat for a project of Gujarat government. The bus terminals will be converted into bus stations-cum-commercial and retail hubs. In the first phase, Akruti City will redevelop 5-7 bus terminals in towns such as Baroda, Surat and Mehsana in Gujarat.
Akruti City reported 272.87% surge in net profit to Rs 171.41 crore on 236.79% increase in total income to Rs 241.01 in Q1 June 2008 over Q1 June 2007.
Akruti City’s principal activity is to develop real estate. It includes commercial and residential properties and acquisition of land and land development. Currently, the company has 107 million square feet of developable land bank spread across Mumbai, Panvel, Pune and Baroda. Akruti, in association with TCG Realty, is developing a biotech park on 700 acres at Savli near Vadodara.
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