Nashik (Maharashtra) [India], July 9: KBC Global Ltd (formerly known as Karda Construction Limited) BSE - 541161, a prominent player in the construction and real estate development sector, has transferred possession of over 100 units residential and commercial in its various ongoing projects in Nashik, Maharashtra. The group handed over possession of a total of 109 units as of April 2024.
The company delivered 76 units of Hari Kunj Mayflower project and 19 units of Hari Krishna Phase IV project
Reflexes:-
• Appointed Mr. Muthusubramanian Hariharan as CEO and CEO of the company effective July 9.
• The company received a subcontract worth $20 million for the soft infrastructure segment of CRJE Ltd.
• The company's wholly owned subsidiary, Karda International Infrastructure Ltd, was awarded this contract.
• KBC Global has taken its first step towards becoming a key part of Africa's infrastructure development.
• The company has also announced strategic expansion plans in both the national and international markets.
Of the total units delivered during the period, the company has handed over possession of 76 units of Hari Kunj Mayflower project (MAHARERA Reg no: P51600020249), a residential and commercial project situated at Karmayogi Nagar, Nashik, Maharashtra - 422,009 In the project Hari Krishna Phase IV, the company delivered 19 units while other projects remained.
The Board of Directors in its meeting held today, i.e. on July 8, 2024, approved the appointment of Mr. Muthusubramanian Hariharan, as Executive Director and CEO of the Company with effect from July 9, 2024 to occupy the position until the date of the next general meeting.
Founded in 2007, the company has made significant strides in the real estate industry, specializing in the development and sale of residential and residential projects with offices in Nashik, India. The company operates primarily in two segments: construction and development of residential and commercial projects, and contract projects. The company's notable projects include Hari Gokuldham, Hari Nakshtra-ll Eastext Township, Hari Sanskruti ll, Hari Siddhi and Hari Samarth, among others. The company has also announced strategic expansion plans in both the national and international markets. In April 2024, the board of directors considered and approved the conversion of a total of 60 bonds into shares according to the terms and conditions of the FCCB issue.
The real estate sector is poised for continued growth, driven by factors such as supply and demand dynamics, regulatory frameworks and general economic conditions. Government initiatives like 'Housing for All' and Pradhan Mantri Awas Yojana further underline the growth potential of the industry. Furthermore, mega infrastructure projects such as roads, airports and subways are contributing to the expansion of the real estate market.
The company has recently been awarded a major subcontract worth approximately US$20 million by CRJE (EAST AFRICA) Ltd. CRJE is a modern company with a rich history of building railways and five-star hotels throughout Africa. This major contract focuses on the soft infrastructure civil engineering segment and represents a significant milestone for KBC Global. The contract was secured through KBC Global's wholly owned Kenyan subsidiary, Karda International Infrastructure Limited, underscoring the company's growing presence in the African market.
The contract award highlights KBC Global's growing capabilities and reputation in international infrastructure development. This project is a testament to the company's commitment to contributing to the growth of Africa's infrastructure, marking its first major step towards becoming a key player in the continent's development. With this achievement, KBC Global is poised to make significant contributions to East Africa's infrastructure landscape, aligning with the region's ambitious growth and development goals.
Originating from the TAZARA Construction Assistance Team of the Jianchang Engineering Bureau under the Ministry of Railways of China, CRJE is also part of the prestigious China Railway Construction Group, established to drive business development in East Africa.
In the financial year 2022-2023, Karda Construction Limited reported revenue of Rs. 10,818.56 lakhs.
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The company delivered 76 units of Hari Kunj Mayflower project and 19 units of Hari Krishna Phase IV project
Reflexes:-
• Appointed Mr. Muthusubramanian Hariharan as CEO and CEO of the company effective July 9.
• The company received a subcontract worth $20 million for the soft infrastructure segment of CRJE Ltd.
• The company's wholly owned subsidiary, Karda International Infrastructure Ltd, was awarded this contract.
• KBC Global has taken its first step towards becoming a key part of Africa's infrastructure development.
• The company has also announced strategic expansion plans in both the national and international markets.
Of the total units delivered during the period, the company has handed over possession of 76 units of Hari Kunj Mayflower project (MAHARERA Reg no: P51600020249), a residential and commercial project situated at Karmayogi Nagar, Nashik, Maharashtra - 422,009 In the project Hari Krishna Phase IV, the company delivered 19 units while other projects remained.
The Board of Directors in its meeting held today, i.e. on July 8, 2024, approved the appointment of Mr. Muthusubramanian Hariharan, as Executive Director and CEO of the Company with effect from July 9, 2024 to occupy the position until the date of the next general meeting.
Founded in 2007, the company has made significant strides in the real estate industry, specializing in the development and sale of residential and residential projects with offices in Nashik, India. The company operates primarily in two segments: construction and development of residential and commercial projects, and contract projects. The company's notable projects include Hari Gokuldham, Hari Nakshtra-ll Eastext Township, Hari Sanskruti ll, Hari Siddhi and Hari Samarth, among others. The company has also announced strategic expansion plans in both the national and international markets. In April 2024, the board of directors considered and approved the conversion of a total of 60 bonds into shares according to the terms and conditions of the FCCB issue.
The real estate sector is poised for continued growth, driven by factors such as supply and demand dynamics, regulatory frameworks and general economic conditions. Government initiatives like 'Housing for All' and Pradhan Mantri Awas Yojana further underline the growth potential of the industry. Furthermore, mega infrastructure projects such as roads, airports and subways are contributing to the expansion of the real estate market.
The company has recently been awarded a major subcontract worth approximately US$20 million by CRJE (EAST AFRICA) Ltd. CRJE is a modern company with a rich history of building railways and five-star hotels throughout Africa. This major contract focuses on the soft infrastructure civil engineering segment and represents a significant milestone for KBC Global. The contract was secured through KBC Global's wholly owned Kenyan subsidiary, Karda International Infrastructure Limited, underscoring the company's growing presence in the African market.
The contract award highlights KBC Global's growing capabilities and reputation in international infrastructure development. This project is a testament to the company's commitment to contributing to the growth of Africa's infrastructure, marking its first major step towards becoming a key player in the continent's development. With this achievement, KBC Global is poised to make significant contributions to East Africa's infrastructure landscape, aligning with the region's ambitious growth and development goals.
Originating from the TAZARA Construction Assistance Team of the Jianchang Engineering Bureau under the Ministry of Railways of China, CRJE is also part of the prestigious China Railway Construction Group, established to drive business development in East Africa.
In the financial year 2022-2023, Karda Construction Limited reported revenue of Rs. 10,818.56 lakhs.
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