Kretto Syscon board to consider a bonus issue or dividend of up to 100% on July 15. The decision depends on distributable reserves and approvals. The company recently announced a new joint venture.
The company is considering a final dividend of up to 100 per cent, or a bonus share issue, the exchange filing stated.
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.
The joint venture plans to build 1 & 2 BHK affordable homes aimed at salaried employees, nuclear families, and PMAY eligible buyers.
