This civil construction stock soars after securing the south Mumbai project
Marine lines to get a makeover as MICL announces tower exceeding 800 feet.
Man Infraconstruction Ltd, a prominent real estate player, has announced an exciting new project in Mumbai's coveted South Mumbai district. The project, described as "An Iconic Uber-Luxurious Sea-Facing Residential project near Marine Lines," promises to redefine the city's skyline and offer unparalleled ocean views to a select few residents.
This ultra-luxurious project marks MICL's second venture into the high-end residential segment in South Mumbai. Following the launch of 'Aaradhya Avaan' at Tardeo, which will be one of the tallest towers in India at over 1,000 feet, the Marine Lines project is expected to exceed 800 feet in height.
MICL boasts a proven track record of delivering projects ahead of schedule, and they aim to complete this one within five years of launch. The project will offer a total RERA carpet area of approximately 5.3 lakh square feet for sale and is expected to generate a total sales value exceeding Rs 2,100 crore.
Shares of Man Infraconstruction Ltd (MANINFRA), a civil construction company, are up 3.00 per cent at Rs 209.45 today. The stock opened at Rs 206.05, reached a high of Rs 210.85, and a low of Rs 202.30. The company has a market capitalization of Rs 7,748.00 crore (Full Mcap) and falls under the civil construction industry category. It is listed as Group A with a T+1 settlement type. The stock is included in the S&P BSE SmallCap index. The stock has a 52-week high of Rs 249.40 and a low of Rs 66.25. It currently trades within a 20 per cent price band, with an upper limit of Rs 244.00 and a lower limit of Rs 162.70.
Maninfra, a Mumbai-based net cash-positive company, reported an annual revenue of Rs 1,890.35 crore and a net profit of Rs 258.57 crore for the financial year ending 31st March 2023. With nearly six decades of experience in engineering, procurement, and construction, Maninfra has successfully executed projects across India, including the Port, Residential, Commercial & Industrial, and Road construction segments. As a real estate developer, Maninfra Group has delivered 16 residential projects in Mumbai, renowned for its quality construction and timely delivery.
Disclaimer: The article is for informational purposes only and not an investment advice.