₹2500 Crore Solar project: Hazoor Multi Projects Ltd.’s stock rose 2% to Rs 56.48 a share on Saturday after closing at Rs 55.38 per share the day before. At Rs 28.41 per share, the stock’s 52-week low, it is now up 99 percent. Let’s know all the details of the ₹2500 crore solar project in this article.
Overview of Hazoor Multi Projects Ltd. (HMPL)
Given India’s rapidly expanding infrastructure, Hazoor Multiprojects Ltd. (HMPL) took a risk by creating a business vertical to create a dependable and quality-conscious EPC contracting firm that could meet the country’s expanding needs. Over the past few years, HMPL has effectively taken on a number of MSRDC’s key projects using both the HAM and EPC execution models.
For the project to be effective, HMPL has been successfully establishing collaborations. This achievement has been made possible by HMPL’s development of a very capable management team, both technically and commercially, and by meticulously attending to the needs of its clients. The organization was founded on several important foundations, including meeting deadlines and maintaining high standards of quality while keeping an eye on safety.
All About the ₹2500 crore Solar Project
Hazoor Multi Projects Ltd. (HMPL) is making its foray into the renewable energy industry by building the first solar park in Maharashtra, CSMSUP (Chhatrapati Shivaji Maharaj Saur Urja Park). This 4,200-acre project of 1.2 GW capacity in the Solapur district is a partnership with a top UK company. Modern 750-watt solar panels in tracking and fixed configurations are part of CSMSUP’s mission to maximize energy production and make a major contribution to renewable energy goals of India.
For its planned 500 MW solar park in Andhra Pradesh’s Prakasam District, Hazoor Multi Projects Ltd. (HMPL) has gotten a big boost. The State Nodal Agency, NREDCAP, for renewable energy projects, has endorsed the project, which is expected to cost ₹2500 crore (i.e. ₹2500 Crore solar project) over 2,000 acres. As part of the AP Clean Energy Integrated Policy 2024, NREDCAP has formally recognized HMPL’s proposal and committed to helping to ensure the project’s effective execution.
Financials of Hazoor Multi Projects Ltd.
The market capitalization of the company is Rs 1,117 crore. The net profit in Q2FY25 was Rs 11.02 crore, up 17% from Q2FY24, while net sales rose 118% to Rs 153.08 crore, according to the Quarterly Results. Net sales dropped by 59% to Rs 225.16 crore in H1FY25, while net profit dropped to Rs 20.48 crore by 68% in H2FY24, according to the company’s half-yearly statistics. Considering the net profit of the company, the ₹2500 crore solar project if executed right facilitate the business growth.
Final Verdict
This ₹2500 Crore Solar project is a major step toward India’s 2025 target of solar power of 100 GW of producing capacity. This project is intended to greatly increase India’s capacity to generate solar power and is a substantial boost to the country’s renewable energy sector. Numerous jobs in the area are also anticipated to be created by the project. It is anticipated that the project will substantially aid in the region’s economic growth.
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