Nashik ,JUL 9
KBC Global Ltd ( Previously known as Karda Construction Limited ) BSE – 541161, a prominent player in the construction and real estate development sector has handed over possession of 100 plus residential cum commercial units in its various ongoing projects in Nashik, Maharashtra. The group has handed over possession for total of 109 units from April 2024.
The company handed over 76 units of Hari Kunj Mayflower Project, 19 units of Hari Krishna Phase IV project
Highlights:-
* Appointed Muthusubramanian Hariharan, as Executive Director and CEO of the Company w.e.f 9 July
* Company has been awarded a sub contract worth of USD 20 Million for soft infrastructure segment from CRJE Ltd
* Company’s wholly owned subsidiary, Karda International Infrastructure Ltd received this contract
* KBC Global has taken its first step in becoming a key part of Africa’s Infrastructure development.
* The company has also announced a strategic plans for expansion in both domestic and international markets.
Out of the total units handed over during the period, the company has handed over possession of 76 units of the project Hari Kunj Mayflower (MAHARERA Reg no: P51600020249), a residential cum commercial project situated at Karmayogi Nagar, Nashik, Maharashtra – 422 009. In Hari Krishna Phase IV project, company has handed over 19 units while remaining from the other projects.
The Board of Directors at its Meeting held today i.e. July 08, 2024, approved the appointment of Muthusubramanian Hariharan, as Executive Director and CEO of the Company with effect from 09 July 2024 to hold office upto the date of the ensuing general meeting
Established in 2007, company has made significant strides in the real estate industry, specializing in the development and sale of residential and residential- cum-office projects in Nashik, India. The company operates primarily in two segments: construction and development of residential and commercial projects, and contractual projects. Notable projects of the company include Hari Gokuldham, Hari Nakshtra-ll Eastext Township, Hari Sanskruti ll, Hari Siddhi, and Hari Samarth, among others. The company has also announced a strategic plans for expansion in both domestic and international markets. In the month of April 2024, board of directors considered and approved conversion of total 60 bonds into equity shares as per the terms and conditions of the issue of FCCB.
The real estate sector is poised for continued growth, driven by factors such as supply and demand dynamics, regulatory frameworks, and overall economic conditions. Government initiatives like “Housing for All” and the Pradhan Mantri Awas Yojana further underscore the growth potential in the industry.
