Rs 1,156 crore order book & 52-week high alert: This civil construction company launches residential project Aaradhya OnePark worth Rs 1,200 crore; details inside!
The stock gave multibagger returns of over 200 per cent in just 1 year whereas BSE Small-cap Index is 62 per cent.
Man Infraconstruction Limited (MICL) has officially launched "Aaradhya OnePark," an uber-luxurious residential project in Ghatkopar East, Mumbai, boasting 4 lakh sq. ft. of carpet area spread across 10 societies within a 12,000+ sq. meter gated community.
Featuring 3 BHK, 4 BHK, and 5 BHK configurations alongside 50+ lifestyle amenities, the project received all necessary approvals including IOD, CC, aviation clearance, and MahaRERA registration, paving the way for construction with expected completion within schedule. This launch marks a significant step for MICL Group in their ambition to become Mumbai's premier luxury real estate developer, and they anticipate strong sales generating Rs 1,200 crore in revenue over the next four years.
Today, shares of MICL gained 7.3 per cent to an all-time high of Rs 242.35 per share from its previous closing of Rs 225.90. The shares of the company saw a spurt in volume by more than 3 times on BSE.
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. 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.
The company board allocated 3.5 crore warrants at Rs 155 each, raising Rs 543 crore, but opted to sell off 200,000 unsubscribed warrants. They received Rs 135 crore upfront, representing 25% of the warrant price, with notable investors like Radhakishan Damani's son-in-law and Quant Mutual Fund participating alongside other non-promoters.
The company will hold a meeting on Monday, February 05, 2024, inter-alia to consider Quarterly Results (Q3FY24) and nine-month results (9MFY24) for the fiscal year 2024.
Earlier, Man Infraconstruction Group elevates Mumbai living with a limited-edition luxury project at Pali Hill, Bandra West. This architectural marvel redefines sophistication, offering meticulous attention to detail and a rare opportunity for discerning residents to experience luxury as a way of life. The project promises an exceptional living experience within 50,000 sq. ft. of prime real estate, poised to generate Rs 500 crore.
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 over 200 per cent in just 1 year whereas BSE Small-Cap Index is 62 per cent and a whopping 930 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.
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