Kretto Syscon Ltd Board to Decide on Bonus Shares or Dividend
Kretto Syscon Ltd's board will meet to consider a potential bonus share issue or a dividend for the 2024-25 financial year. They are also involved in a joint venture to develop affordable housing in Ahmedabad. The final decision depends on available reserves and necessary approvals.
- Country:
- India
Kretto Syscon Ltd's board will convene on July 15 to weigh the possibility of recommending either a bonus issue of shares or issuing dividend payments for the 2024-25 fiscal year, as indicated in a recent exchange filing.
The options on the table include a potential final dividend of up to 100 percent or a bonus share issuance. Decisions will depend on available distributable reserves and the requisite statutory and shareholder approvals, according to the filing.
In a strategic move, Kretto Syscon has also entered into a joint venture with B-Devasya Designs & Buildcon to develop affordable residential and commercial real estate in West Ahmedabad. The project, estimated at Rs 25 crore with projected revenues of Rs 48 crore, targets salaried employees, nuclear families, and PMAY eligible buyers.
(With inputs from agencies.)
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