Man Infraconstruction hits 52-week high on unveiling a new project; details inside

On Monday, Man InfraConstruction surged 7.28% to trade at its 52-week high of Rs 242.35, from its previous closing of Rs 225.9 on the BSE.

Launch of Aaradhya OnePark

Man Infraconstruction Ltd (MICL) has received all the approvals for the construction of the Aaradhya OnePark, an Uber-Luxurious Residencial project in Ghatkopar East, Mumbai, featuring 4 Lakh Sq. Ft. Carpet Area for Sale. The construction work at the site has been commenced and shall be executed as per the scheduled timelines.

Aaradhya OnePark introduces the Innovative Community Living Concept, offering ultra-luxurious residences in 3 BHK, 4 BHK and 5 BHK configurations as well as featuring 50+ lifestyle amenities. This expansive project spans across a 12,000+ square meter gated community of 10 societies, located at Ratilal B. Mehta Road (60 Feet Road), Ghatkopar (East), Mumbai. MICL Group expects strong sales momentum for the project and expects to generate revenue of Rs. 1,200 crore in the next 4 years from this project.

The company also announced that it has received an Occupancy certificate (OC) for its remaining residential towers in the ‘Aaradhya OneEarth’ project located at Ghatkopar East, Mumbai. The company had already received OC for its first four sale towers in the last financial year. This is a significant achievement for the company to deliver the project in less than 3.5 years since its launch in September 2020. The towers were delivered at least 1 to 1.5 years before the committed date and nearly 90% of the project is already sold out.

Company profile

Incorporated in 2002, Man Infraconstruction Ltd (MICL) is an integrated EPC (Engineering, Procurement & Construction) company with experience and execution capabilities in Port, Residential, Commercial & Industrial and Road construction segments. The company has two business verticals EPC and Real Estate Development.

Stock price movement

Today, the stock opened at Rs 226.90 and has touched a high and low of Rs 242.35 and Rs 225.50, respectively. The BSE group ‘A’ stock of face value of Rs 2 has a 52-week high and low of Rs 242.35 and Rs 66.25, respectively. Last one week high and low of the scrip stood at Rs 242.35 and Rs 215, respectively. The current market cap of the company is Rs 8,804.20 crore.

The promoters holding in the company stood at 67.19%, while Institutions and Non-Institutions held 5.59% and 27.19%, respectively.

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.