RDB Infrastructure and Power signs MoU for commercial project in Gurugram
RDB Infrastructure and Power shares is one of the stocks that have given multibagger return to its investors. Five years ago, the price of the company's share was Rs 1.75, which has become Rs 53 today. This means that this stock has given a return of 2,928 per cent in five years. At the same time, in the last one year, the stock has given a return of 480 per cent. In March 2024, the company's stock touched a high level of Rs 62.7.
However, today the company's shares are in the red. The stock price has fallen by 2.66 per cent to Rs 53.00 per share.
If an investor had invested Rs 1 lakh five years ago, the value of his investment today would have been Rs 30.28 lakh. That is, this stock has given a return of more than 30 times in five years.
The company has now shared some important information in the stock exchange filing. The company said that it has signed an MoU with Bigbull Infrabuild Private Limited. This agreement has been done for a commercial and multi-storey housing project. RDB has given 2.8375 acres of land in Palra village of Gurugram for the housing project. RDB will get 31.5 per cent of the revenue coming from this project. At the same time, the developer will get 68.5 per cent revenue.
'Company has entered into a Memorandum of Understanding with Bigbull Infrabuild Private Limited for development of Commercial/multi-storied Retirement Housing Project on Company's land admeasuring, in aggregate 2.8375 acres, located in Sector-70a, the revenue estate of Village Palra, Sub-Tehsil Badshahpur, Gurgaon, Haryana, India,' the company said in an exchange filing.
Last month in March, RDB signed a contract with Vardhman Group Realbuild. This contract was for a high-rise building. This project was in Mumbai.
The 52-week high of RDB Infrastructure stock is Rs 62.68 and the 52-week low is Rs 13.77. The stock has declined by 4.69 per cent in the last one month. At the same time, the stock has fallen by about 2 per cent in the last six months. However, the stock has given a return of 246.18 per cent in one year. At the same time, the stock has given a return of 2,860.89 per cent in five years. According to information received from the stock exchange, the market-cap of the company is Rs 916.02 crore.
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