MRO-TEK Reality , formerly known as MRO-TEK Realty Limited, has reported a significant increase in promoter shareholding during the second quarter. The company has also announced its upcoming board meeting to review and approve the financial results for the same quarter.

Promoter Shareholding Increase

According to the company's filing, the promoters of MRO-TEK Reality have substantially increased their stake in the company:

The promoters acquired an additional 604,790 shares from the open market during the second quarter, resulting in a 3.23 percentage point increase in their shareholding. This move demonstrates the promoters' confidence in the company's future prospects and their commitment to increasing their stake.

Upcoming Board Meeting

MRO-TEK Reality has scheduled its 4th board meeting for the financial year on Wednesday, October 15. The primary agenda for this meeting includes:

• Consideration and approval of the unaudited financial results for the quarter ended September 30.

The company has duly informed the National Stock Exchange of India Limited and BSE Limited about the scheduled board meeting, in compliance with regulatory requirements.

Regulatory Compliance

MRO-TEK Reality has emphasized that the increase in promoter shareholding is in full compliance with the regulatory requirements under the SEBI (Substantial Acquisition of Shares and Takeovers) Regulations, 2011. The company has promptly reported this change to the stock exchanges as part of its commitment to transparency and adherence to listing obligations.

Investors and market participants will be keenly watching for the Q2 results, which will provide insights into the company's financial performance and potentially shed light on the promoters' decision to increase their stake in the company.

MRO-TEK Reality, with its registered office in Bangalore, operates under the CIN: L28112KA1984PLC005873.

MRO-TEK Reality , formerly known as MRO-TEK Realty Limited and now operating as Umiya Buildcon Limited, has received approval from the Government of Karnataka for a strategic land allotment, marking a significant step in the company's expansion plans. The approval, detailed in a recent corporate announcement, outlines the company's ambitious project to establish an advanced manufacturing facility for data communication and networking products.

Land Allotment and Project Details

The Government of Karnataka has allotted 1 acre of land to Umiya Buildcon in the Adinarayana Hosahalli 2nd Phase Industrial Area, Bangalore Rural District. This well-developed industrial hub offers established infrastructure, including assured water and power supply, along with eligible incentives and concessions under the prevailing industrial policy.

Investment and Facility Focus

Umiya Buildcon plans to invest over INR 26.00 crore in this new venture. The facility will focus on manufacturing network and telecom gear incorporating next-generation technologies. This initiative aligns with the Indian government's 'Make in India' vision, aiming to boost domestic manufacturing and R&D capabilities in the high-growth communications technology sector.

Employment and Economic Impact

The project is expected to generate significant employment opportunities:

• Creation of over 150 direct and indirect jobs
• Foster local skill enhancement
• Advance cutting-edge research in communications technology

Strategic Location

The allotted land is strategically located near Foxconn's iPhone manufacturing facility, which is the company's second-largest iPhone production plant outside China. This proximity could potentially create synergies and strengthen the local manufacturing ecosystem.

Company's Focus Areas

Umiya Buildcon has outlined several key focus areas for the new manufacturing unit:

1. Deployment of state-of-the-art, automated manufacturing lines
2. Investment in a dedicated in-house Research & Development centre
3. Adoption of environmentally responsible and resource-efficient operations
4. Development and commercialization of proprietary, globally competitive products
5. Establishment of a Center of Excellence (CoE) for precision Manufacturing and Product Development

Future Outlook

This initiative reaffirms Umiya Buildcon's commitment to technological innovation, employment generation, and contributing to India's self-reliance in critical technology segments. The company has stated that it will provide timely updates on key project milestones and financial commitments in compliance with applicable regulations.

As Umiya Buildcon Limited takes this significant step towards expanding its manufacturing capabilities, the move is expected to strengthen its position in the data communication and networking products sector, while also contributing to the growth of Karnataka's industrial landscape.