Bharat Agri Fert & Realty Ltd improves operational performance during Q3FY24; Total income up 10.5 per cent

PNN
Mumbai (Maharashtra) [India], February 21: Mumbai-based Bharat Agri Fert & Realty Ltd engaged in the business of construction and development of Residential and Commercial Complexes, Manufacturing Fertilisers and Operating a Resort has reported improvement in the operational performance during the Q3FY24. Total income during the quarter increased 10.5 per cent to Rs. 6.57 crore.
Highlights:-
- Company is planning for expanding Anchaviyo Resort capacity from 46 rooms to 125 rooms
- Company is having free hold surplus land of 40 lakh Sq. ft area (92 Acres) where company is planning to establish weekend homes due to excellent climatic condition and very near to Mumbai
- Company plans to modernize 1,32,000 TPY SSP fertilizer unit with installation of balancing equipment and trying to achieve higher capacity utilization
- Company has got JV project in hand at Vile Parle East 35,000 sq. ft area 3/4 BHK residential luxurious flats in prime location of Vile Parle (East), Mumbai
During the quarter ended December 2023, The Company has received commencement certificate upto 35 floors for G- WEMBLEY Tower thereby anticipated revenue of Rs.500 crore within 3 years. Company has updated all required compliances on RERA Portal including Draft Agreement for Sale and also availed Approved Project Finance (APF) from 13 banks i.e Nationalized, Private and Co-op Banks to boost up sales from April 2024 onwards. Company also started new reception at ANCHAVIYO Resort to accommodate 125 -150 guests for check in at a time and increased the theme-based rooms from 46 to 60 rooms during the quarter.
Due to aggrieved war situation in Middle East and Red Sea, company has decided to offer their SSP plant on lease cum conversion basis with few reputed corporate fertilizer units ie IPL, CFCL etc. which will increase the profitability in fertilizer division.
Company expects its Residential Project 'WEMBLEY' G+59 having 2/3 BHK residential flats at Shiv Sai Paradise, Majiwada, Thane to be game changer for the company. Soft Launch of the project was on 24th October, 2023 - DUSSEHRA and company has received buyer enquired for 152 units out of total 452 units. The Company has received the Sanction of Development, Commencement Certificate, Chief Fire Officer permission from Thane Municipal Corporation, MoEF permission and Civil Aviation permission etc.
Company has also undertaken strategic expansion plans for its Anchaviyo Resort in Palghar district, Maharashtra along with other real estate projects and modernization of 1,32,000 TPY SSP fertilizer unit.
Company is now planning for more focus on Hospitality business (ANCHAVIYO RESORT), Real Estate Business and as company has large area of land and properties in possession. Company has decided that whatever revenue from the above projects it will be utilized in future development of company's future realty and resort divisions. Presently companies theme based resort at Wada which has capacity of 46 rooms which - would increase to 125 rooms as company is now looking for more corporate events and destination wedding. Company has also received Non Agriculture permission from Palghar collectorate office for making a Helipad in resort for easy transportation of Guest who are willing to visit the resort on payment charges. (This will start only after necessary permission received from Civil Aviation Ministry).
Additionally, company is having free hold surplus land of 40 lakh Sq. ft area (92 Acres) where company is planning to establish weekend homes due to excellent climatic condition and very near to Mumbai city and the same is in good demand in present conditions. Also few reputed developers like Godrej properties have started offering scheme of plotting at rate of Rs. 2,500/- per sq. ft land cost only and company can offer best of the best amenities and facilities by making value added weekend homes with all required infrastructure facilities like club house, restaurants, entertainment facility etc for easy stay of Mumbaikars. Company is also in the process of acquiring 30 Acres (13,00,000 Sq. ft) adjacent to present free hold land which will increase the company's future development activity in Wada.
Company has its Bharat House bearing 431 sq. mtrs. in the Fort Area, Mumbai which has been
given on lease basis and Company is also planning to develop luxury commercial lawyers/solicitors offices being the location is adjacent to Mumbai High Court and Company can avail 6.5 FSI thereby Company can build 30,000 sq. ft. RERA carpet saleable area in future being a prime location property.
Similarly, company has got JV project in hand at Vile Parle East 35,000 sq. ft area 3/4 BHK residential luxurious flats in prime location of Vile Parle (East), Mumbai near Airport and Railway station and once joint venture will be executed the company will inform the shareholder and exchange from time to time. From the above projections company will be expecting sufficient cash flow in coming 4 years.
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