Kamanwala Housing Construction Limited
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BSE Code:
511131
NSE Code:
KAMANWALA
Business Profile
Business Profile
Kamanwala Housing Construction (KAMANWALA) is engaged in the construction of residential and commercial properties. It was incorporated in 1984, went public in March 1986 and got its current name in January 1995.
The company has executed more than 18 projects with saleable area totaling about 1 million sq. ft. valued at approximately INR 1.2 billion. It has completed projects in Mumbai like Krishna Kunj, Goregaon; Mukta Apartments, Khar; Manavsthal I & II, Goregaon; Kamanwala Chambers, Mahim; Vaibhav Apartments, Bandra; and Manavsthal, Andheri. The projects under implementation in FY07 include part of Manansthal, Andheri; Pinnaacle Corporate Park, a commercial property in the Bandra-Kurla complex; the Vallabh Terrace in Opera House, being repaired and renovated for conversion of tenancy to ownership rights; a residential project on Marve Road in Malad West under the Slum Rehabilitation Authority (SRA) scheme; and Rishi Tagore, a residential project in Santa Cruz.
Future projects have been planned such as a commercial-cum-residential project in Versova, land acquired in Mahim for development under the SRA scheme at a cost of INR 300 million; development of residential and commercial units at Filmistan Studio, Mumbai in a 33% joint venture with Aspen Property; planned acquisition of land for development in 4 Bungalows (Oshiwara), Andheri-Kurla Road, Bandra-Kurla Complex (Phase II), and Mulund. The company has entered into a 20% partnership joint venture agreement with Prajay Enterprises to develop 35 acres of land in Patancheru, Hyderabad; and purchased a two-acre land in the Ranga Reddy district near Hyderabad to be developed into a commercial-cum-residential project;
The registered office of the company is located at 405/406, New Udyog Mandir-2, 4th Floor, Mogul Lane, Mahim (W), Mumbai-400016.
Financials
Kamanwala Housing Construction registered a 436.73% growth in net profit to Rs 68.38 million for the quarter ended September 2007 from a profit of Rs 12.74 million for the quarter ended September 2006.
Net sales increased 8.99 times to Rs 337.46 million for the quarter ended September 2007 from Rs 37.53 million for the quarter ended September 2006.
Total income rose 717.88% to Rs 337.62 million for the quarter ended September 2007 from Rs 41.28 million for the quarter ended September 2006.
The earnings per share (EPS) of the company stood at Rs 12.49 for the quarter ended September 2007.
Recent Developments
24-APR-07
On April 24, 2007 Kamanwala Housing Construction decided to amalgamate its subsidiary Doongursee Diamond Tools with the company.
08-JAN-07
Kamanwala Housing Construction announced that it has acquired the development rights of the residential property, having an area of 203,124 sq. ft. at Marve Road, Malad (W), Mumbai. The total consideration for the said deal is Rs 333 million.
03-JAN-07
Recently, the company had announced its acquisition for the development rights for Rs 405.0 million of the commercial/residential property, having an area of 100,000 sq. ft. at Andheri, Mumbai.