Multibagger real estate stock hit 52-week high as the company unveiled its latest residential project RIVAAN – details inside

The stock gave multibagger returns of 200 per cent in just 1 year and a whopping 4,650 per cent in 3 years.

Meghna Infracon Infrastructure Limited, a rising star in the real estate industry, has unveiled its latest residential project, "RIVAAN", situated in the prime location of Goregaon (west), Mumbai. "RIVAAN" boasts an innovative community living concept, offering 1 and 2 BHK residences alongside commercial units on the first floor, all strategically located for a convenient and vibrant lifestyle. This launch marks a significant milestone for Meghna Infracon as they strive to become the preferred developer for luxurious living spaces in Mumbai.

Commenting on this development, Mr Vikram Jayantilal Lodha - Managing Director said, "We are happy to announce the launch of “Rivaan” unveiling affluent Residents in Goregaon (west), Mumbai for the development of approx. 1 lac sq. Ft Carpet Area. The launch of “RIVAAN” marks a significant milestone in our journey towards becoming the preferred luxurious real estate developers in Mumbai. The construction work at the site has been commenced and shall be executed as per the scheduled timelines.”

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Meghna Infracon Infrastructure Ltd is a real estate builder and construction company based in Mumbai, Maharashtra, India.

Today, shares of Meghna Infracon Infrastructure Ltd jumped 19.20 per cent and made a fresh new 52-week high of Rs 468 per share from its previous closing of Rs 393.45 per share. At the closing bell, shares of the company were trading in the green, up 10.89 per cent to Rs 436.30 per share.

The company has a market cap of Rs 466 crore. The shares of the company have an ROE of 27 per cent and an ROCE of 21 per cent. The stock gave multibagger returns of 200 per cent in just 1 year and a whopping 4,650 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.