The share price of the small-cap stock rose 4.2 percent to an Intraday high of Rs 157.6 per share on Tuesday. This came after the company launched three mega projects which would also include constructing India’s tallest building that could yield a revenue of up to Rs 8,000 Crore. 

Man Infraconstruction Ltd. (MICL) has launched the Aaradhya Avaan project in South Mumbai’s Tardeo area, which is claimed to be India’s tallest building at 1,000 feet. The total saleable carpet area of Aaradhya Avaan is expected to be 6.5 lakh sq ft, with a constructed area of more than 18 lakh sq ft. 

MICL expects to earn Rs 8,000 crore from the sale of three residential real estate projects, including this tall building and two other projects currently under construction in Ghatkopar and Goregaon. 

Manan Shah, Managing Director of MICL, claims that the tallest building, Aaradhya Avaan, has a Rs 3,000 crore revenue potential. After redeveloping ten buildings in Ghatkopar, the company hopes to earn Rs 1,200 crore from its cluster project and Rs 4,000 crore from its Goregaon project. 

On the Q2FY24 conference call for MICL, Shah provided this information. According to real estate consulting firm CBRE India, Lodha World Towers, which rises to a height of 918 feet, is currently the tallest structure in India. 

The company has reported that net revenue decreased by 46 percent year on year from Rs 401.25 crores in Q2FY23 to Rs 215.29 crores in Q2FY24. Their net profit rose 30.7 percent year on year, from Rs 53.28 crores in Q2FY23 to Rs 69.65 crores in Q2FY24. 

The company’s Promoters hold a 67.15 percent stake in the company, with 3.72 percent owned by Foreign Institutional Investors, 27.04 percent owned by the General Public, and 2.09 percent owned by Domestic Institutional Investors. 

Man Infraconstruction Limited (MICL) is a small-cap company with a market capitalization of Rs 5,678 crores. It has a return on equity (ROE) of 29.6 percent and a return on capital employed (ROCE) of 33.5 percent. 

The share price of Man Infraconstruction Limited has increased by 59 percent in the last six months and by 101 percent year to date. For instance, if you invested Rs 1 lakh yeat to date, the current value would be Rs 2.1 lakhs.

Man Infraconstruction Limited (MICL) is a fully integrated EPC (Engineering, Procurement, and Construction) firm with experience and execution capabilities in the port, residential, commercial industrial, and road construction segments. 

Written by Sriram KV


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