B Right Realestate , a prominent player in India's real estate sector, has announced its consolidated financial results for the first quarter, showcasing significant growth across key financial metrics.

Strong Revenue Growth

For the quarter, B Right Realestate reported a total income of Rs 46,387.00 lakhs, marking a substantial increase of 124% compared to Rs 20,670.00 lakhs in the corresponding quarter of the previous year. This impressive growth reflects the company's strong market position and effective execution of its business strategies.

Profit Surge

The company's profit after tax witnessed a remarkable surge, reaching Rs 6,135.00 lakhs for the quarter. This represents a significant 381% increase from Rs 1,274.00 lakhs reported in the same quarter of the previous fiscal year. The substantial growth in profitability underscores the company's operational efficiency and robust financial management.

Earnings Per Share

B Right Realestate's earnings per share (EPS) stood at Rs 3.63 for the quarter, indicating strong returns for shareholders and reflecting the company's improved financial performance.

Financial Highlights

Management Commentary

The results were reviewed by the Audit Committee and approved by the Board of Directors at their meeting. While specific management comments were not provided in the available information, the strong financial performance suggests effective execution of the company's growth strategies and potentially favorable market conditions in the real estate sector.

Conclusion

B Right Realestate's quarterly results demonstrate a robust financial performance, with significant growth in revenue and profitability. The substantial increase in total income and profit after tax indicates the company's strong market position and operational efficiency. As the real estate sector continues to evolve, B Right Realestate appears well-positioned to capitalize on market opportunities and deliver value to its stakeholders.

Investors and market observers will likely keep a close watch on the company's performance in the coming quarters to assess the sustainability of this growth trajectory and its implications for the broader real estate market in India.

B Right Realestate , a company currently listed on the BSE SME Platform, has announced significant strategic moves that could reshape its financial landscape and market presence. The company's Board of Directors has given the green light to two major initiatives: a substantial fundraising effort and a potential migration to a main board listing.

Fundraising Initiative

The Board has approved plans to raise funds up to Rs. 100.00 crore. This fundraising effort is flexible in its approach, allowing for various methods including:

• Issuance of equity shares
• Other eligible securities
• Debt borrowing

This diverse approach to fundraising provides B Right Realestate with multiple avenues to secure the necessary capital for its future endeavors.

Main Board Migration Plans

In a move that signals the company's growth ambitions, B Right Realestate is looking to upgrade its listing status. The Board has approved plans to migrate the company's listing from the BSE SME Platform to the main board of one of the following:

• BSE Limited
• National Stock Exchange of India Limited
• Other recognized stock exchanges

This potential migration could provide the company with increased visibility, potentially higher trading volumes, and access to a broader investor base.

Approval Process and Next Steps

Both the fundraising initiative and the main board migration plans are subject to prior approval from the company's members. To facilitate this, the Board has set in motion a postal ballot process. Key details of this process include:

• Appointment of Rinkesh Gala & Associates, Practicing Company Secretaries, as scrutinizers for the postal ballot
• Approval of the postal ballot notice
• Establishment of a calendar of events
• Setting of a record date for voting and determining eligible members for the postal ballot

These strategic moves by B Right Realestate underscore the company's ambitions for growth and its efforts to enhance its market position. Shareholders and potential investors will be keenly watching the outcomes of the postal ballot and the subsequent steps in the company's evolution.