Sunteck Realty today said it would sub-divide shares to face value of Re 1 each in order to make it affordable for small investors.
In a filing to BSE, Mumbai-based developer said the board approved "sub-division of the equity shares of face value of Rs 2 each into equity shares of face value of Re 1 each making it affordable for small investors".
Sunteck Realty has posted an over seven-fold jump in consolidated net profit at Rs 28.97 crore during the fourth quarter ended March 31, 2017.
It had posted a net profit of Rs 3.69 crore in the year- ago period.
Total income rose to Rs 130.34 crore for the quarter under review, from Rs 77.58 crore in the corresponding period of previous year.
During the full 2016-17 fiscal, the company's net profit rose sharply to Rs 216.14 crore from Rs 27.32 crore in the previous year.
Total income went up to Rs 960.36 crore in the last fiscal from Rs 261.25 crore in the previous year.
Sunteck has a development portfolio of about 23 million square feet spread across 25 projects and 4 rented assets.
Disclaimer: No Business Standard Journalist was involved in creation of this content
