Summit Securities Ltd
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BSE Code:
533306
NSE Code:
SUMMITSEC
Business Profile
Business Profile
KEC Infrastructures (KECINFRA), a group company of RPG Enterprises, is mainly engaged in the real estate business. It was originally incorporated in 1945. Entering into a scheme of arrangement effective Dec. 26, 2005, the company transferred its power transmission business to KEC International and got its current name on Jan. 09, 2006.
The company`s assets consists mainly of land in Mumbai and investments in its subsidiary KEC Holdings. It also has investments in various companies like CEAT, RPG, Harrisons Malyalam and others. Looking at business prospects in the real estate market, the company has taken various steps to add value to its property in Mumbai. The company entered into a memorandum of understanding with the Neptune group and sold its immovable property situated in Kurla, Mumbai for Rs 912,222,000 to Neptune Realtors in February 2007.
The registered office of the company is at CEAT Mahal, 463, Dr. Annie Besant Road, Worli, Mumbai-400030.
Financials
KEC Infrastructures posted a loss of Rs 29.2 million for the quarter ended June 2007.
Net Sales for the quarter was Rs 0.3 million.
Total income for the quarter was Rs 0.3 million.
The loss per share of the company stood at Rs 0.7 for the quarter ended June 2007.
Recent Developments
05-APR-07
On March 30, 2007, the committee of directors (CoD) of the company allotted 4,300,000 preferential equity shares at a price of Rs 26.43/- per share including a premium of Rs 16.43 per share and 6,572,000 warrants with an option to the warrant holder (s) to apply/subscribe for one equity share of face value Rs 10 each of the company at a price of Rs 26.43 per share for every one warrant held by them.
09-FEB-07
The company has sold its immovable property situated in Kurla, Mumbai for a consideration of Rs 912,222,000/- to Neptune Realtors vide deed of conveyance dated Feb. 8, 2007.