Rs 728 crore order book: Net cash positive civil construction company acquired 40 per cent stake in HOLDING 752 & 758 NW 2 ST LLC
The company has a market cap of over Rs 7,000 crore and has delivered good profit growth of 48.3 per cent CAGR over the last 5 years.
Man Infraconstruction Limited has announced that its wholly-owned subsidiary, MICL Global, INC, has acquired a 40 per cent stake in HOLDING 752 & 758 NW 2 ST LLC, a real estate entity based in Miami, Florida. This acquisition is aimed at expanding the company's real estate development portfolio into the US market. The target entity is currently in the process of developing residential apartments in Miami. The acquisition was made through a cash consideration of approximately USD 3 million, and no regulatory approvals were required.
About the Company
Man Infraconstruction Ltd, a Mumbai-based company listed on both NSE (MANINFRA) and BSE (533169), specializes in EPC (Engineering, Procurement, and Construction) and Real Estate Development. With a 50-year EPC history and strong execution in ports, residential, commercial, industrial, and road sectors across India, ManInfra also excels in Mumbai's real estate market, delivering high-quality residential projects on time. Its construction management expertise and resources make it a capable real estate developer. As of June 2024, the company’s order book stands at Rs 728 crore. The company has a market cap of over Rs 7,000 crore and has delivered good profit growth of 48.3 per cent CAGR over the last 5 years. The company's shares have an ROE of 25 per cent and an ROCE of 30 per cent.
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MICL has demonstrated robust performance in the first quarter of FY25, surpassing its annual sales of Rs 744 crore in FY24 with a sales value of Rs 691 crore. The company's consolidated PBT margins have significantly increased from 21.7 per cent in Q1FY24 to 30.7 per cent in Q1FY25. MICL's financial health is strong, with a total income of Rs 368.4 crore, a PBT of Rs 113.2 crore, and a PAT of Rs 77.5 crore in Q1FY25. The company maintains a net-debt-free position with a cash and bank balance of Rs 487 crore. MICL has invested over Rs 1,000 crore in real estate projects and generated a cash flow from operations of Rs 321 crore during the quarter. With a strong project pipeline, including prestigious projects like Aaradhya Avaan in Tardeo and Aaradhya OnePark in Ghatkopar, MICL is well-positioned for future growth in Mumbai's prime locations such as Goregaon, Marine Lines, BKC, Pali Hill, Vile Parle and Dahisar.
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Disclaimer: The article is for informational purposes only and not investment advice.