33rd Annual Report of the Company
Awaiting price reaction for this filing.
Dugar Housing Developments Limited filed its 33rd Annual Report for FY 2024-25. The company posted revenue of Rs 30.23 lakhs versus Rs 0.19 lakhs in the previous year, and swung to a net profit of Rs 3.50 lakhs from a loss of Rs 20.26 lakhs in FY 2023-24. No dividend was declared, and the board confirmed there are no auditor qualifications. Post-March 2025, the company raised its authorized share capital from Rs 10 crore to Rs 14 crore, allotted 94 lakh equity shares/warrants on a preferential basis at Rs 12 per share to non-promoters, and received approval to change its main business object from real estate to Information Technology and Artificial Intelligence. A name change was also approved, along with an open offer at Rs 12 per share for up to 26% of share capital.
For shareholders, the company has shifted its business focus from real estate to IT and AI, with a significant equity dilution and new promoters/acquirers coming in via the open offer. The price of Rs 12 per share for both the preferential allotment and open offer may serve as a near-term reference price for the stock.