The Hindu Business Line : DMC Intl turns active

Kolkata, July 17 Recent sporadic driving by the operators has enabled DMC International to post a gain of around 24 per cent in last one month. The New Delhi-based real estate company has, of late, announced a number of new business projects including a proposed entry into bio-fuel production, a joint venture for 2 lakh square feet IT and ITES complex and an acquisition of company with a license for TV channel and experience in films production related infrastructure.

The company has also sought BSE’s clearance for issuing bonus shares in the ratio of 1:1. This would increase the paid-up capital of the company to Rs 3.84 crore from the present 1.92 crore.

Responding to Business Line queries, Mr S.S. Gupta, one of the promoters and MD, said the company has planned to expand and scale up businesses after a management restructuring. Regarding the proposed IT complex, he said the Rs 50-crore project would be handled by a 50:50 joint venture. “The project, located in Gurgaon in Haryana, is scheduled to be completed by September 2009”. Currently, three own real estate projects of DMC are on in Rajasthan near the NCR, he informed.

Bio-fuel

The company has obtained a total of 2,000 hectares of wasteland in MP and Orissa for jatropha cultivation, which would begin in next April-May. The Rs 6-crore project, which is eligible for 30 per cent capital subsidy, would also have oil extraction plants and is expected to yield commercial bio-diesel by January 2010.

The stock today finished at Rs 83 on the BSE. On July 12, it had hit its all-time high of Rs 89.

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