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This Microcap Realty stock deals in real estate development which includes the construction of commercial complexes, residential, and IT parks hit a 5 percent upper circuit after the Caratlane Founders bought stake.
Price Action (WA:ACT)
With a market capitalization of Rs. 646 Crores, the shares of Arihant Foundations & Housing Ltd (BO:ARFL) were up by 5 percent in the day’s trade touching a day’s high of Rs. 751.60 per share. The stock was in the upper circuit limit which is 5 percent up from the previous closing price of Rs. 715.85 apiece. The stock has delivered a multi-bagger 1,066 percent return over the past year and outperformed the Nifty Index.
What Happened
The rise in stock price was related to one among Arihant Foundations & Housing shareholders – Monet Securities held around 7.32 lakh shares (7.35 percent) as of 16th November 2024 and sold around 3.48 lakh shares around 3.49 percent of the company at Rs. 685 per share on 29th November 2024.
The Caratlane founders Mithun Padam Sacheti and Siddhartha Sacheti both hold around 3.43 percent in Arihant Foundations as of 16th November 2024. They both bought 1.745 percent or 1.74 lakh shares each at Rs. 685 per share on 29th November 2024 as per the BSE Bulk deal thus increasing their stake in the company.
About the Company
Arihant Foundations & Housing Limited was established in 1992. It is a prominent real estate developer based in Chennai, India. They specialize in constructing residential and commercial properties, including IT parks. Their business model focuses on land acquisition, project development, and timely delivery of quality housing solutions. By leveraging strategic partnerships and innovative designs.
Arihant aims to meet the growing demand for urban housing while improving customer satisfaction and maximizing shareholder value.
Products and Services
They offer a range of real estate products and services that primarily focus on the construction of residential complexes and commercial properties, including IT parks. The company has developed over ten million square feet of space, with ongoing projects aimed at improving urban living. Their portfolio concentrates on luxury housing and bespoke office spaces, catering to diverse customer needs while ensuring quality and timely delivery.
Financials & Ratios
Its Revenue from operations increased by 433 percent year on year from Rs. 9 Crores in Q2FY24 to Rs. 48 Crores in Q2FY25, accompanied by profits of Rs. 1 Crores to Rs. 11 Crores.
In terms of Return ratios, it has reported a return on equity (ROE) of 7.31 percent and a return on capital employed (ROCE) of 10.62 percent. It has reported a debt-to-equity ratio of 0.86.
Shareholding Pattern
As of September 2024, the shareholding pattern with the promoter’s stake holding a share of 36.99 percent in Arihant Foundations & Housing, Domestic Institutional Investors (DII) holding around 1.07 percent, and the public holding around 61.93 percent.
Written by Santhosh S
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