On June 20, Bharat Agri Fert & Realty Limited shares soared 9% in early morning trade after it informed exchanges that it got the sanction for a housing project in Maharashtra’s Thane. At 9:57 am, the share traded 7.56% higher at Rs 128 on NSE.

The company said in an exchange filing that they had received the sanction of development from Thane Municipal Corporation for the building project “Shiv Sai Paradise, Phase 11, Majiwada for G tower – Basement + Ground + 1st to 6th Parking Floor + 7th to 31st Floor of 2/3 BHK homes.

The filing said the company management expected an additional net revenue of Rs 700-800 crore over five years.

Bharat Agri Fert & Realty stock soared 37.51% over the past six months, outperforming the Nifty50 benchmark index, giving a return of 1.76% over the same period.