Latest News | Kretto Syscon Board to Consider Bonus Issue Next Month

Mumbai, Jun 21 (PTI) The board of Kretto Syscon Ltd will meet on July 15 to consider and recommend a bonus issue of shares or dividend payments for the 2024-25 financial year, according to an exchange filing.

The company is considering a final dividend of up to 100 per cent, or a bonus share issue, the exchange filing stated.

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The board will consider and recommend either of the corporate actions, subject to the availability of distributable reserves, requisite statutory and shareholder approvals, the filing stated.

Kretto Syscon recently entered into a JV agreement with B-Devasya Designs & Buildcon for the development of an affordable residential-cum-commercial real estate project at Ghuma in West Ahmedabad. The project cost is Rs 25 crore and revenue is estimated around Rs 48 crore.

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The joint venture plans to build 1 & 2 BHK affordable homes aimed at salaried employees, nuclear families, and PMAY eligible buyers.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)