Rs 500,00,00,000 revenue potential: This multibagger civil construction company receives a new redevelopment project belonging to Virgo Co-operative Housing Society Ltd!

The stock gave multibagger returns of 195 per cent in just 1 year whereas BSE Small-cap Index is 48.6 per cent.

Man Infraconstruction Limited unveils its venture into sophistication and luxury with the redevelopment of an Exclusive Residential Marvel situated at the esteemed Pali Hill, Bandra West—a symbol of prestige in the heart of Mumbai City. This new undertaking by MICL Group is set to redefine urban living, transcending the ordinary to embrace the extraordinary. The architectural masterpiece reflects MICL Group's unwavering commitment to perfection and meticulous attention to detail, ensuring a truly exceptional living experience. With only a limited number of residential apartments, this project presents a rare opportunity for those who recognize that luxury is not just a statement but a way of life.

Man Infraconstruction Limited (“the Company”) through one of its associate entities wherein it holds a 34 per cent stake; will undertake the redevelopment of property belonging to Virgo Co-operative Housing Society Limited, located at Pali Hill, Bandra (West), Mumbai, Maharashtra. This landmark project has the potential to offer a carpet area for sale of about 50,000 sq. ft. area and is expected to generate a total revenue of about Rs 500,00,00,000.

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. 

Earlier, the company gears up for a Rs. 550 crore fundraising push, with key investors like Aditya Chankad (Damani's son-in-law) and Quant Mutual Fund already on board. The plan involves issuing convertible warrants, essentially pre-booking shares at a premium, to raise capital. Regulatory approvals are pending, but with backing from prominent figures and institutions, the stage is set for a significant financial boost.

The company reported positive financial results in both its quarterly report (Q2FY24) and annual report (FY23). 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.

Today, shares of Man Infraconstrcution Ltd gained 4.36 per cent to an intraday high & 520week high of Rs 216.20 per share from its previous closing of Rs 207.75 per share. The shares of the company saw a spurt in volume by more than 2 times on BSE.

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 195 per cent in just 1 year whereas BSE Small-Cap Index is 48.6 per cent and a whopping 850 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.