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The company said that it shall carry on business of real estate development and construction. The business of the subsidiary company is in line with the main line of business of the company.
The company said that it is in the process of subscribing to 10,000 equity shares of Rs 10 each aggregating to Rs 1 lakh.
Crest Ventures is a non-banking financial company registered with the RBI. The company operates under three verticals: financial services, real estate and investments & credit.
The company reported a consolidated net profit of Rs 366.69 crore as against a net profit of Rs 0.57 crore in Q1 FY23 over Q1 FY22. Total income surged to 567.04 crore in Q1 FY23 as compared with Rs 13.33 crore in Q1 FY22.
Shares of Crest Ventures rose 3.75% to Rs 182.55 on the BSE yesterday.
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