Man Infraconstruction to develop largest redevelopments in western suburbs of Mumbai!

Man Infraconstruction Group is planning to develop one of the largest redevelopments in the western suburbs of Mumbai city. This landmark project has the potential to offer a carpet area for sale of 1.7 million sq. ft. area and is expected to generate a total revenue of more than Rs 4,000 crore. The latest addition of the project will expand the company’s real estate portfolio from 4.6 million sq. ft. to 6.3 million sq. ft. of carpet area.

The project having a total construction area of over 50 lakh sq. ft. is likely to be undertaken by Man Infraconstruction which is expected to be completed within 5 to 6 years of time. This acquisition is aligned with its asset-light strategy and will strengthen its financial position in the years to come.

Man Infraconstruction Limited has announced its financial results for the first quarter ending on June 30, 2023 (Q1FY24). During this period, the company generated a revenue of Rs 509.66 crore, reflecting a growth of 44.8% compared to the previous year. The operational profit for Q1FY24 was Rs 123.18 crore, marking a significant increase of 64.7% year-on-year. Additionally, the company’s net profit after tax (PAT) also demonstrated strong growth, reaching Rs 84.80 crore, an increase of 94.3%.

Man Infraconstruction Limited is an integrated EPC (Engineering, Procurement & Construction) company with experience and execution capabilities in Port, Residential, Commercial & Industrial and Road construction segments.

Today, the stock opened at Rs 138.95, with a high and low of Rs 152.80 and Rs 136.80. The stock closed trading at Rs 151.85, up by 9.92%. The stock has a 52-week high of Rs 155.65 and a 52-week low of Rs 66.25. The company has a ROCE of 33.5% and an ROE of 26.4% with a market capitalization of Rs 5,606 crore.

Investors should keep a close eye on this stock.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.