This real estate stock got approval for Rs 850 crore project; do you own it?

The project is spread over 2.5 acres and has approximately 5.3 lakh square feet of carpet area for sale.

One of the leading players in the real estate sector, Man Infraconstruction Ltd has recently started the construction of a new project that is expected to generate revenue of Rs 850 crore. The project is spread over 2.5 acres and has approximately 5.3 lakh square feet of carpet area for sale. It is named as “Aradhya Parkwood” and will be based in Mumbai. 

Man Infraconstruction Ltd is doing business in two verticals viz., construction and real estate and is headquartered in Mumbai. It has more than five decades of experience and has completed over 25 million square feet of residential and commercial projects. It has also built 7 ports in India. As of FY22, company had order book of over Rs 1,850 crore and they will be completed within three years. 

It has posted phenomenal results for September quarter of FY23, as sales grew by 62 per cent. It has maintained healthy ROCE and ROE of 33.7 per cent and 27.8 per cent respectively. Promoter holding in the company has increased in the past 3 years whereas FIIs and DIIs have also increased their stakes in the company. 

On intraday basis, the shares have gained more than 1.5 per cent. Investors can keep this stock on their watch list for the upcoming sessions.