Rs 1,156 crore order book: This civil construction company achieves Rs 333 crore of sales in its uber-luxurious project Aaradhya OnePark – know more here!
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 870 per cent in 3 years.
Man Infraconstruction Limited (MICL), a leading name in the luxury residential real estate market, announced the exceptional success of its latest project, 'Aaradhya OnePark.' The company expresses deep appreciation to its valued customers, clients, and partners for their unwavering trust which has played a pivotal role in the triumph of this project. This achievement has further solidified MICL's standing in the real estate space, showcasing its brand ‘MICL’ as a force to be reckoned with.
‘Aaradhya OnePark’ project, which offers an innovative community living concept with luxurious residences, has achieved record sales of Rs 333 crore upon launch. This remarkable achievement accounts for nearly 25 per cent of the total estimated sales potential from the project and reaffirms MICL's position as an industry leader in Mumbai's luxury real estate market. We continue to expect such strong traction in sales from this project in the forthcoming quarters.
The meticulously designed 'Aaradhya OnePark' project features a range of configurations, including 3 BHK, 4 BHK, and 5 BHK residences. The development boasts over 50 lifestyle amenities and thematic landscapes, promising a high-quality living experience for its residents. Strategically located alongside Ratilal B. Mehta Marg in Ghatkopar East, Mumbai, the project has quickly become a symbol of luxury and sophistication.
MICL’s stellar reputation of quality construction and on-time delivery has created trust among residents and stands as a testament for company’s success in crafting its journey in real estate.
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 per cent of the warrant price, with notable investors like Radhakishan Damani's son-in-law and Quant Mutual Fund participating alongside other non-promoters.
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.
Today, shares of MICL gained 3.71 per cent to Rs 239.35 per share with an intraday high of Rs 239.80 and an intraday low of Rs 231.65. 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 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.
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