In Wednesday’s trading session, shares of one of the leading player in the Indian infrastructure sector, specializing in construction, engineering, and project development, in focus following the approval of Scheme of Arrangement and Merger by Absorption of its wholly-owned subsidiaries.
Price action
With a market capitalization of Rs. 8,541.59 crores on Wednesday, the shares of Man Infraconstruction Limited is trading at Rs. 222.61 down by 2.5 percent making a low of Rs. 221.74 per share compared to its previous closing price of Rs. 227.60 per share.
What happened
Man Infraconstruction Limited, specializing in construction, engineering, and project development, has announced that the Hon’ble National Company Law Tribunal (NCLT), Mumbai Bench, has approved the Scheme of Arrangement and Merger by Absorption of its wholly-owned subsidiaries, Manaj Tollway Private Limited (MTPL) and Man Projects Limited (MPL), with the company.
This decision follows the company’s earlier notice on March 22, 2024, about the proposed merger under SEBI regulations. Today, the NCLT approved Company Petition No. CP (CAA) No. 141 of 2024, filed jointly by the company and its subsidiaries, and sanctioned the merger scheme.
EPC Portfolio: Order Book Overview
Man Infraconstruction Limited’s order book stands at Rs. 653 crore, with 85 percent allocated to infrastructure and 15 percent to residential projects. The ongoing infrastructure portfolio spans approximately 110 hectares of ongoing ports & infraprojects, while the residential and government projects cover around 3.2 million square feet.
Upcoming Projects
As of September 2024, Man Infraconstruction Limited has several upcoming projects, including Aaradhya Parkwood near Dahisar (455 units, FY25 launch) and Dahisar Phase 3. Other projects include Royal Netra in Goregaon West, Artek CHSL in Bandra East, and Marine Lines, with launches expected between FY25 and FY26. The company’s portfolio also features developments in Vile Parle and Pali Hill. In total, these projects will cover a carpet area of approximately 40.1 lakh square feet.
Financials
The company’s revenue rose by 7 percent from Rs 242.85 crore to Rs 259.97 crore in Q2FY24-25. Meanwhile, Net profit fell from Rs 69.65 crores to Rs 44.54 crore during the same period.
Written by Sridhar J
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