Rs 1,156 crore order book: This multibagger civil construction company receives commencement certificate for Uber Luxurious Residential Project; Rs 1,200 crore revenue likely!

The stock gave multibagger returns of 170 per cent in just 1 year whereas BSE Small-cap Index is 43.8 per cent and a whopping 870 per cent in 3 years.

Mumbai's skyline is set to gain a new jewel, as Man Infraconstruction Ltd (MICL) has secured the crucial Commencement Certificate for its uber-luxurious residential project in Ghatkopar East. This expansive development, boasting a remarkable 4 lakh square feet of carpet area, promises to redefine community living with its innovative concept. Residents can expect not just opulent homes, but also a vibrant tapestry of shared spaces and experiences, fostering a sense of belonging unlike any other.

The project marks a significant milestone for MICL Group, with an expected revenue generation of Rs 1,200 crore over the next four years. It's safe to say, that this luxurious haven in the heart of Mumbai is poised to become a coveted address for discerning homebuyers seeking an unparalleled lifestyle.

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. 

Earlier, the board approved a fundraising initiative of approximately Rs 550.32 crore through the issuance of convertible equity warrants via a preferential issue, pending regulatory approvals. The company plans to issue up to 3,55,05,000 warrants, each convertible into one equity share at a price of Rs 155 per warrant, including a premium of Rs 153. Aditya S Chankad (son-in-law of Radhakishan Shivkishan Damani) and Quant Mutual Fund have been allotted 32,40,000 and 17,50,000 warrants, respectively, in addition to participation from various institutional investors, including FIIs, FPIs, and individual investors.

The company reported positive financial results in both its quarterly report (Q2FY24) and annual report (FY23). As of September 30, 2023, the company's order book stands at Rs 1,156 crore, with 86 per cent of the orders coming from infrastructure projects and 14 per cent from residential projects.

Today, shares of Man Infraconstrcution Ltd gained 2.10 per cent to Rs 214.25 per share from its previous closing of Rs 209.65 per share. In its recent trading sessions, the stock has been hitting back-to-back 52-week highs.

The shares of the company have a PE of 20.1x whereas the industry PE is 39.2x and a ROE of 26.40 per cent & a ROCE of 32 per cent. The stock gave multibagger returns of 170 per cent in just 1 year whereas BSE Small-Cap Index is 43.8 per cent and a whopping 870 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.