Rs 1,265 crore order book & FIIs increase stake: This multibagger civil construction company increases stake in Atmosphere Realty to 30 per cent!
The stock gave multibagger returns of over 100 per cent in just 6 months whereas BSE Small-cap Index is 35.96 per cent.
The MICL Group has increased its ownership interest to 30 per cent in "Atmosphere Realty Private Limited," the entity responsible for overseeing two upscale projects. These projects feature three substantial 47-storey residential towers, an 18-storey commercial tower, and another tall tower currently under construction.
ARPL has an authorized capital of Rs. 25,00,000 and a paid-up capital of Rs 25,00,000. The author of the document has acquired 3,125 equity shares (representing 12.50 per cent of the paid-up equity share capital) of ARPL for Rs 12,50,00,000. ARPL was incorporated on January 12, 2007 and has a presence in Maharashtra.
The turnover of ARPL for the previous three financial years is as follows:
|
Financial Year
|
Turnover (Rs. in lakhs)
|
|
2022-23
|
43,071.39
|
|
2021-22
|
34,618.57
|
|
2020-21
|
11,326.72
|
The Atmosphere 02 project has been a huge success, with nearly 90 per cent of the inventory sold out as of September 2023. It has also received an occupancy certificate for two out of the three residential towers in a record time of less than 4 years. Man Infraconstruction Limited is in the process of delivering an additional 3.5 lakh sq. ft. of RERA carpet area for sale in the near future.
The Atmosphere Tower G project, which was launched in the last financial year, is also experiencing strong momentum, with approximately 30 per cent of the inventory sold as of September 2023. This project is expected to be completed in around 3 to 4 years.
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 FIIs have increased their stake from 2.39 per cent to 3.72 per cent.
On Thursday, shares of MICL gained 2.34 per cent to Rs 163.70 per share with an intraday high of Rs 165.65 and an intraday low of Rs 157. The company reported positive numbers in its Quarterly Results (Q1FY24) and annual results (FY23). The order book stands at Rs 1,265 crore as of June 2023.
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 over 100 per cent in just 6 months whereas BSE Small-Cap Index is 35.96 per cent. Investors should keep an eye on this small-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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