Rs 400 million revenue expected: Residential & commercial projects company enters into Re-Development Agreement at Lokhandwala, Andheri (West), Mumbai
The stock gave multibagger returns of 200 per cent in just 1 year; 1,000 per cent in 2 years and a whopping 4,570 per cent in 3 years.
Meghna Infracon Infrastructure Limited has successfully secured another redevelopment agreement for a residential project in the prime location of Model Town, Lokhandwala, Andheri (West), Mumbai. After transferring possession to the existing tenant, the company anticipates the project to span approximately 35,000 square feet and generate revenue of approximately Rs 400 million. This strategic move marks a significant expansion of Meghna Infracon's portfolio and solidifies its position as a leading player in the Mumbai real estate market.
Commenting on this development, Mr. Vikram Jayantilal Lodha, Managing Director said, “This development aligns seamlessly with our commitment to creating iconic developments that offer a superior living experience. We look forward to delivering yet another benchmark project that reflects our commitment to excellence”
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About Meghna Infracon Infrastructure Limited
Meghna Infracon Infrastructure Limited (Script Code-538668), is an emerging name in real estate development across the residential sector in the Western Mumbai region. The company has residential projects located in the premium location of Goregaon and Andheri where they have established their presence. The company is primed for ongoing success and expansion within the real estate sector.
The company has a market cap of Rs 563 crore and working capital requirements have reduced from 229 days to 91.7 days. The shares of the company have an ROE of 28 per cent and an ROCE of 21 per cent. The stock gave multibagger returns of 200 per cent in just 1 year; 1,000 per cent in 2 years and a whopping 4,570 per cent in 3 years. Investors should keep an eye on this micro-cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.
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