Prajay Engineers Syndicate rises on its subsidiary executing investment agreement

10 Aug 2011

Prajay Engineers Syndicate is currently trading at Rs. 9.60, up by 0.42 points or 4.58% from its previous closing of Rs. 9.18 on the BSE.

The scrip opened at Rs. 9.60 and has touched a high and low of Rs. 9.90 and Rs. 9.32 respectively. So far 2,952 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 33.90 on 10-Aug-2010 and a 52 week low of Rs. 8.75 on 08-Aug-2011.

Last one week high and low of the scrip stood at Rs. 10.48 and Rs. 8.75 respectively. The current market cap of the company is Rs. 67.00 crore.

The promoters holding in the company stood at 26.26% while Institutions and Non-Institutions held 15.31% and 58.42% respectively.

Prajay Engineers Syndicate’s subsidiary has executed an investment agreement with a foreign investor from Middle East for an investment of Rs 154 crore in its ongoing integrated township project comprising of affordable high premium residential condominiums along with independent high-end villas over land admeasuring in total 85.32 acre situated at Bagh Mankal, Maheswaram Taluk, Ranga Reddy District and the total estimated outlay of the project is around Rs 800.00 crore.

Prajay Engineers Syndicate is engaged in the development and construction of residential and commercial properties in Hyderabad and Secunderabad, India. The company commenced operations in the real estate sector by building low cost residential buildings. It then diversified into high-end apartments, commercial complexes, hospitality ventures, malls, IT parks and large format high-end integrated townships.

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