Synopsis:
Mayasheel Ventures Ltd (MVL) has entered the building construction space with a ₹57.14 crore EPC contract for the PM Ekta Mall in Aizawl, Mizoram. The project, sub-awarded by SPG Infra, is to be completed in 24 months.
The shares of the Penny stock company, specializing in infrastructure construction, particularly roads, highways, flyovers, and bridges, jumped by upto 9 percent upon receiving a work order from SPG Infra Projects Pvt. Ltd for the construction of PM EKTA MALL in Aizawl, Mizoram.
With a market capitalization of Rs. 133.40 Crores on Monday, the shares of Mayasheel Ventures Limited rose by 9.3 percent after making a high of Rs. 62.40 compared to its previous closing price of Rs. 57.05.
Mayasheel Ventures Limited, engaged in infrastructure construction, particularly roads, highways, flyovers, and bridges, has entered the building construction sector by securing a significant work order from SPG Infra Projects Pvt. Ltd.
The original contract, valued at approximately Rs. 116.61 crore, was awarded by HLL Infratech Services Ltd. (HITES) on behalf of the Mizoram Tourism Development Authority for the construction of PM EKTA MALL in Aizawl, Mizoram, on an EPC basis.
SPG has subcontracted 49% of this project to Mayasheel Ventures Limited (MVL), amounting to around Rs. 57.14 crore. The project is domestic and is to be completed within 24 months from the work order date.
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Financials & Others
The company’s revenue rose by 31.22 percent from Rs. 130 crore in March 2024 to Rs. 171 crore in March 2025. Meanwhile, the Net profit rose from Rs. 7 crore to Rs. 11 crore during the same period.
The company’s Return on Capital Employed (ROCE) is 30.4% and Return on Equity (ROE) is 43.9%, both indicating strong profitability. Its stock’s Price-to-Earnings (P/E) ratio is 11.6, which is significantly lower than the industry average of 20.5, suggesting the stock may be undervalued compared to its peers.
Mayasheel Ventures Ltd is a public infrastructure development company, specializing in the construction of roads, highways, expressways, bridges, and flyovers primarily for government departments such as NHIDCL and various state agencies.
The company operates as a “Class A” government contractor, making it eligible for large-scale and technically demanding projects under the Engineering, Procurement, and Construction (EPC) and Bill of Quantity (BOQ) models.
The company has a set of marquee clients, which includes the Ministry of Road Transport and Highways (MoRTH), National Highways Authority of India (NHAI), Noida Development Authority, National Highways & Infrastructure Development Corporation Limited (NHIDCL), the Government of Uttar Pradesh, and others.
The company launched its Initial Public Offering (IPO) from June 20 to June 24, 2025, with a book-building issue size of ₹27.28 crore consisting entirely of a fresh issue of 58.05 lakh equity shares. The IPO was listed on the NSE SME platform, with the listing date set for June 27, 2025.
The price band for the IPO was fixed between ₹44 and ₹47 per share, and the minimum application size for retail investors was one lot of 3,000 shares, amounting to an investment of ₹1,32,000 to ₹1,41,000. The offering aimed to support the company’s expansion in infrastructure projects and strengthen its financial position.
Written by Sridhar J
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