High ROE and ROCE multibagger stock: This construction company receives 5 redevelopment projects worth Rs 600 crore!

The stock gave multibagger returns of 131.92 per cent in just 6 months and over 287 per cent in 1 year.  

Modi’s Navnirman Limited, one of the leading developers in suburban Mumbai, has successfully been selected as the developer of choice to redevelop the plot and premises of the following residential cum commercial societies: -  

1) Dattani Apartment CHSL, Borivali (West). 2) Om Shraddha CHSL, Borivali (West). 3) Vasudeo Terrace CHSL, Borivali (West). 4)Sunder Sangam CHSL, Goregaon (West) and 5) Shree Siddhivinayak Towers CHSL, Kandivali (West). 

The total land parcel of the societies mentioned above is approximately 16,600 square meters, with a total development potential of approx. 2,31,800 square feet built-up area and a revenue total of around Rs 600 crore.  

Today, shares of Modi's Navnirman zoomed 3.28 per cent to Rs 182.80 per share from its previous closing of Rs 177. The stock is close to its 52-week high of Rs 187.85 and has a 52-week low of Rs 46. Today, shares of the company saw a spurt in volume by more than 2.40 times on BSE

Modi's Navnirman Limited operates as a real estate company. The company designs, develops and manages residential and commercial projects. Modi's Navnirman serves customers in India. 

Talking about the financials, this SME company has a market cap of Rs 296.18 crore. The company reported excellent numbers in its half-yearly results and annual results. The stock has an ROE of 28.42 per cent and a ROCE of 32.6 per cent. 

The stock gave multibagger returns of 131.92 per cent in just 6 months and over 287 per cent in 1 year.