Man InfraConstruction is currently trading at Rs. 209.40, up by 6.05 points or 2.98% from its previous closing of Rs. 203.35 on the BSE.
The scrip opened at Rs. 206.05 and has touched a high and low of Rs. 210.85 and Rs. 202.30 respectively. So far 28301 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 2 has touched a 52 week high of Rs. 249.40 on 05-Feb-2024 and a 52 week low of Rs. 66.25 on 28-Mar-2023.
Last one week high and low of the scrip stood at Rs. 210.85 and Rs. 187.90 respectively. The current market cap of the company is Rs. 7684.88 crore.
The promoters holding in the company stood at 67.19%, while Institutions and Non-Institutions held 5.59% and 27.21% respectively.
Man Infraconstruction (MICL) has acquired another project in South Mumbai. It is set to become yet another tallest residential structures in India to be done by MICL group surpassing the height of above 800 feet. With a proven track record of delivering all its 16 projects before time, MICL group intends to deliver this project in a span of 5 years from launch date.
With the total construction area of approximately 22 lakh square feet offering a RERA carpet area of around 5.3 lakh square feet for sale, the project is expected to generate total sales value of above Rs 2,100 crore. The project is executed under its asset-light Development Management (DM) model and the company secured a Letter of Intent (LOI) from Shreepati Zaoba Housing LLP.
MICL is poised to achieve an expected Profit Before Tax of Rs 400 crore plus from this project. This shall comprise of the DM fees, Project Management Consultancy (PMC) fee on construction and an interest income on the initial investment made by the company in the project.
Man Infraconstruction is an India-based company engaged in the business of civil construction. The company’s operations consist of construction / project activities/real estate activities.
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