Mumbai: Hazoor Multi Projects Limited's Shares in Focus Amid Market Volatility
Shares of Hazoor Multi Projects Limited are currently trading at Rs 30.80 on the BSE, down 4.23 per cent, or Rs 1.36, amid heavy market selling.
Company Updates and Key Developments
- Conversion of Optionally Convertible Debentures (OCDs)
- Timeline for acquisition and conversion revised to March 2026
- No changes to previously disclosed information
In its latest filing, Hazoor Multi Projects Limited stated that it intends to convert the OCDs of its wholly owned subsidiary, Square Port Shipyard Private Limited, into equity shares. The original plan was disclosed to stock exchanges on January 27, 2026.
CRISIL Ratings for Subsidiary
In a separate filing, Hazoor Multi Projects Limited informed that CRISIL Ratings Limited has assigned ratings to the bank loan facilities of Hazoor Infra Projects Limited, the principal subsidiary of the company.
- BBB+/Stable rating for long-term facilities of Rs 476 crore
- A2 rating for short-term facilities of Rs 476 crore
Significant Work Order from Tata Steel
Hazoor Multi Projects Limited recently secured a significant work order from Tata Steel Limited for a project involving the design, engineering, construction and completion of an OPR and NOPR residential colony for employees at TSSIJ, Bileipada (Joda).
- Total project cost: approximately Rs 182.95 crore (excluding GST)
- Project duration: 24 months
- Project features: G+9 storey apartment blocks, civil, architectural, electrical, plumbing, sanitary, fire-fighting, waterproofing, water tank installations, area development and automated lift works
- Project scope: 288 NOPR flats of approximately 900 square feet each and 72 OPR flats of approximately 1,100 square feet each