Rs 1,047 crore order book: This multibagger small-cap company redefines possession standards and delivers Aaradhya Highpark Towers E & F - 21 months ahead of its schedule!

The stock gave multibagger returns of 135 per cent in just 1 year whereas BSE Small-cap Index is 55 per cent and a whopping 910 per cent in 3 years.

Man Infraconstruction Limited (MICL), a prominent real estate company, has successfully delivered two towers (E & F) of their project "Aaradhya Highpark" located near Dahisar, Mira Road, setting a new standard for timely completion. This achievement marks the early delivery of these towers by 21 months, showcasing their commitment to quality construction and adherence to timelines.

MICL has now delivered over 1,300 apartments, including shops, across all six residential towers and one commercial tower ("Aaradhya Primus") within a record time. Launched in October 2018, the first four residential towers and the commercial tower were delivered in November 2022, while the recently completed towers, launched in August 2021, were finished ahead of schedule. This accomplishment is further emphasized by securing the Occupancy Certificate (OC) for all the towers, demonstrating MICL's dedication to high quality standards and regulatory compliance.

According to Quarterly Results, the net sales increased by 12.3 per cent to Rs 241.75 crore and net profit increased by 32.85 per cent to Rs 86.51 crore in Q3FY24 compared to Q2FY23. In its nine-month results (9MFY24), the company reported net sales of Rs 967 crore compared to net sales of Rs 1,210 crore in 9MFY24 while net profit increased by 33 per cent to Rs 235 per cent in 9MFY24 compared to Rs 177 crore in 9MFY23. Maintained net cash positive balance sheet and healthy liquidity of Rs 545+ crore at the consolidated level as of December 2023.

The company announced its fourth interim dividend of Rs 0.54 per equity share (i.e. 27 per cent) on 37,12,50,405 equity shares having a face value of Rs 2 each, for the Financial Year 2023-24. The Record Date to determine the entitlement of shareholders for the said fourth interim dividend ex-date was Thursday, February 15, 2024,

The company successfully raised Rs 543 crore through a preferential issue of warrants, with 25 per cent of the allotment money received in January 2024. Additionally, it launched two ultra-luxurious projects, namely 'Aaradhya One Park' and 'Aaradhya Avaan' in Mumbai, collectively spanning approximately 10.6 lakh sq. ft. of carpet area. 'Aaradhya One Park' in Ghatkopar East achieved record sales of Rs 333 crore upon its launch in the fourth quarter of 2023-24. Furthermore, the company obtained the Occupancy Certificate (OC) in January 2024 for the remaining residential towers of the 'Aaradhya One Earth project in Ghatkopar East. It is also undertaking the redevelopment of an exclusive residential marvel at Pali Hill, Bandra West, covering 50,000 sq. ft. of carpet area, with an indicative sales target of Rs 500 crore.

Man Infraconstruction Limited (MICL) is an integrated EPC (engineering, procurement & construction) company with experience and execution capabilities in port, residential, commercial & industrial and road construction segments. The company has a market cap of Rs 6,500 crore and as of December 31, 2023, the company's order book stands at Rs 1,047 crore.

Today, shares of MICL plunged 6.18 per cent to Rs 176.05 per share from its previous closing of Rs 187.65 with an intraday high of Rs 193.15 and an intraday low of Rs 169.20. The shares of the company have an ROE of 26.40 per cent and an ROCE of 32 per cent. The stock gave multibagger returns of 135 per cent in just 1 year whereas BSE Small-Cap Index is 55 per cent and a whopping 910 per cent in 3 years. Investors should keep an eye on this small-cap stock.

Disclaimer: The article is for informational purposes only and not investment advice.