Stock Report

Sharanam Infraproject & Trading Ltd enters into strategic partnership with Bloom Infra LLC

Posted On : 2024-05-03 20:46:14( TIMEZONE : IST )

Sharanam Infraproject & Trading Limited has entered into a strategic partnership with Bloom Infra LLC, a prominent real estate developer based in Abu Dhabi, United Arab Emirates. This agreement, effective from 29th March,2024 endows Sharanam Infraproject with exclusive rights to act as the trading entity for land associated with various development projects in Khalifa City B (Shakhbout City), which are managed by Bloom Infra LLC.

This collaboration covers over 200 acres of prime real estate slated for significant development, reflecting the magnitude and potential of this initiative. The aggregate value of the projects is estimated to be approximately AED 30 Billion. Under the agreement, Sharanam Infraproject is poised to earn a trading fee ranging from 0.75% to 1.25% on transactions executed, which is expected to substantially augment our revenue streams and, by extension, enhance shareholder value.

This partnership marks a critical advancement in our strategy to expand our operational footprint within the international real estate market. It also underscores our commitment to harnessing our core competencies in real estate trading to achieve considerable growth.

Further information regarding the terms of the agreement and its anticipated financial impacts will be elaborated in our upcoming quarterly financial report and will be discussed extensively during our next investor call. We are confident that this collaboration will result in significant benefits and are excited about the prospects it offers.

We express our sincere gratitude to our shareholders and stakeholders for their continuous support and look forward to a successful and dynamic partnership with Bloom Infra LLC.

Shares of Sharanam Infraproject and Trading Ltd was last trading in BSE at Rs. 0.94 as compared to the previous close of Rs. 0.98. The total number of shares traded during the day was 34039060 in over 2867 trades.

The stock hit an intraday high of Rs. 1.02 and intraday low of 0.94. The net turnover during the day was Rs. 32692338.00.