Welcome to Bihariji Ispat Udyog Limited
A Public Limited Company in the name of Bihariji Finance and Traders Limited was got incorporated on 19.01.1974 with registration certificate issued by the Registrar of Companies, Delhi and Haryana vide Registration Certificate No. 7047 of 1973-74 with seven subscribers to the Memorandum of Association with the object of finance and trading business. The Certificate of commencement of business was also granted by ROC to the company on the same day. Subsequently, the fresh Certificate of Incorporation was obtained by the company on 20.02.1986 changing the name of the company from Bihariji Finance and Traders Limited to Bihariji Ispat Udyog Limited with the object of taking up the business of iron & steel products apart from continuing with the finance business since the company was having in its main objects the business of financing industrial enterprises.
On the amendment in the Reserve Bank of India Act relating to the Non-banking Financial Companies according to which all the non-banking financial companies were required to be got registered with the Reserve Bank of India and accordingly the company was registered on 10.03.1998. The company is listed on Delhi Stock Exchange Association Limited.
Bihariji Ispat Udyog Limited has entered into a partnership in the name of RASHI Developers with M/s Matoshree Properties Pvt. Ltd and M/s Jhunjhunwala Trading Pvt. Ltd. who were having very rich experience in the construction activities, and have made a housing project in Santacruz with an area of 1 acre. They have constructed 112 flats and the project will be completed by mid 2006 and possessions of some of the flats have been handed over to the customers.
In this way, the company has diversified its activities from financing to development of the real estate business and for this purpose, the company has now joined hands with M/s Ultra Home Construction (P) Ltd., a company promoted by Amarpali group which is a well established name in the construction housing activities in the month of February,2006. A plot of land measuring 11.30 acres has already been allotted by the Greater Noida Industrial Development Authority to the company for construction of residential flats/commercial shops. The name of the project coming up on the said plot of land will be the“ AMARPALI GRAND”.
It is a cash rich company and has earned substantial profits during the last three years. The management is hopeful that diversification in the real estate business will increase its profits substantially.
The recent growth in capital markets is expected to substantially enhance the value of the company’s investment activity and its bottomline/projects.
RISKS & CONCERNS
At Bihariji Ispat Udyog Limited, all key functions and divisions are independently responsible to monitor risk associated within their respective areas of operation such as financing and dealing in the sale/purchase of securities of other body corporates. Since the trading of securities is governed by the fluctuating trend of the market of securities listed on Stock Exchange not only of the country but also of abroad as well as the Government policies from time to time, profitability of the company is very much volatile.