MRO-Tek realty gains nearly 5% after acquiring land in North Goa

25 Oct 2024 CW Team

Shares of telecommunications equipment provider MRO-Tek Realty surged by 4.68% to an intraday high of Rs 99.50 following the company’s announcement of acquiring a land parcel in Candolim, North Goa.

In a regulatory filing, MRO-Tek described the acquisition as a strategic move into the real estate sector, highlighting the prime location of Candolim, known for its popularity among tourists. "This acquisition marks a key step in our expansion into real estate, aligning with our goal to meet the rising demand for premium properties in this vibrant region," the company stated.

The firm also revealed that it is working towards securing the necessary approvals to develop a project on the site, promising innovation and growth in its real estate endeavours.

Founded in 1984, MRO-Tek Realty is known for manufacturing and distributing advanced access and networking solutions. Its product portfolio includes 4G/LTE wireless systems, DWDM, IoT sensors, and carrier-grade networking equipment. The company also serves as an original equipment manufacturer (OEM) and supports sectors such as telecommunications, finance, defense, and healthcare.

In recent years, MRO-Tek has diversified into real estate while continuing to offer services such as turnkey IT telecom projects, homeland security solutions, UAVs, and emerging technologies like big data and machine learning.

(Business Standard)

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