Crest Ventures incorporated a wholly owned subsidiary named Crest Habitat on August 25, 2022.

The company said it would be engaged in real estate development and construction. The activity of the subsidiary is consistent with the main activity of the company.

The company said it was in the process of subscribing for 10,000 shares of Rs 10 each totaling Rs 1 lakh.

Crest Ventures is a non-banking finance company registered with the RBI. The company operates in three verticals: financial services, real estate and investments and credit.

The company reported consolidated net profit of Rs 366.69 crore compared to net profit of Rs 0.57 crore in Q1 FY23 from Q1 FY22. Total revenue jumped to 567.04 crore in the first quarter of FY23 from Rs 13.33 crore in the first quarter of FY22.

Shares of Crest Ventures rose 3.75% to Rs 182.55 on BSE yesterday.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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