India, April 15 -- A commencement certificate for a new redevelopment project brought this BSE-listed Mumbai developer back in focus on Wednesday. Under a Regulation 30 disclosure, the company confirmed receipt of the CC for Shraddha Paradise Enclave, a residential and commercial redevelopment project located in Mulund (West). The stock traded marginally higher on the news.

With a market capitalization of Rs. 666.82 crore, the shares of Shraddha Prime Projects Ltd were trading at Rs. 165.05 per share, up 1.16 percent from its previous closing price of Rs. 163.15. It is trading at a P/E of 18.11.

Shraddha Paradise Enclave involves the redevelopment of Himgiri CHS at Swapna Nagari, Nirmal Nagar-Agrawal Road, Mulund (West), under the BMC's...