Bhagyanagar Properties Ltd Company Summary

Bhagyanagar Properties Ltd Summary

Bhagyanagar Properties Ltd was incorporated on 25th April, 2006 as a public limited company under the Companies Act, 1956 with the Registrar of Companies, Hyderabad. The Company is engaged into the business of real estate development. During the year 2016-17, a Scheme of arrangement was entered by the Company with M/s. Bhagyanagar India Limited, which was sanctioned by the Honble High Court of Andhra Pradesh & Telangana on 21 November 2016 and became effective on 23 January 2017. Pursuant to which the Real Estate Undertaking of Bhagyanagar India Limited merged with the Company.During the year 2020-21, the Company acquired 100% of equity shares of M/s. AP Golden Apparels Private Limited on 08 August 2020 and consequent to which M/s. AP Golden Apparels Private Limited became a wholly owned subsidiary of the Company. Further, the Company divested the entire equity shares held in M/s. AP Golden Apparels Private Limited, a wholly-owned subsidiary Company to Mr. NarenderSurana. Accordingly, M/s. AP Golden Apparels Private Limited ceased to be a Subsidiary Company with effect from 16 March 2021. The Company is fortunate to have most of its land situated at prime IT centers of the city where e-commerce companies thrive most of its business for better support and competitive edge. Moreover, there is a constant rise in the demands for large ware houses and storage units in the areas where the company is having huge properties to give on rent. The Company has commissioned a pilot project by constructing a warehouse and is presently having tenants like Big Basket & Amazon etc.The Company plans to develop the land situated at the prime IT Centres of the City, in view of the rapid growth of e-commerce with customer satisfaction and evolving itself into countrys one of the most promising mid cap companies.