Friday, July 12, 2024
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HomeStocksMan Infra soars 2% after securing prestigious luxury residential project in South...

Man Infra soars 2% after securing prestigious luxury residential project in South Mumbai

Today, shares of Man InfraConstruction Limited surged by over 2.70%, with the company’s current market capitalization standing at Rs 7,753.56 crore.

Recent Development:

Man Infra has announced its acquisition of an ultra-luxurious residential project located in South Mumbai. This acquisition marks a significant addition to Man Infra’s prestigious real estate portfolio in the bustling region of South Mumbai.

The newly acquired residential project boasts a prime location near Marine Lines and offers breathtaking sea-facing views, adding to its allure. Notably, this project is set to become one of the tallest residential structures in India, surpassing a towering height of over 800 feet.

Check: Best Infrastructure Companies in India

The development of this iconic project will be spearheaded by the MICL Group, known for its expertise in delivering high-quality residential developments. With this venture, Man Infra aims to further enhance its presence in South Mumbai’s real estate market and offer discerning homebuyers an unparalleled living experience.

About the Company:

Man Infraconstruction Limited (MICL) is a comprehensive Engineering, Procurement & Construction (EPC) company, renowned for its expertise and proficiency across various sectors including Port, Residential, Commercial & Industrial, and Road construction segments.

Business Development:

The company’s revenue is diversified across various segments, with EPC contributing 50.53% and Real Estate accounting for 49.47% of the total revenue. In terms of geographical distribution, the majority of revenue, 90%, is generated within India, while the remaining 10% comes from other regions.

This breakdown highlights the balanced revenue streams across different business segments and geographical locations, reflecting the company’s diversified portfolio and presence in both domestic and international markets.

Furthermore, the stock has experienced significant buying activity, yielding multibagger returns of more than 189% in the last one year.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. The information is based on various secondary sources on the internet and is subject to change. Please consult with a financial expert before making investment decisions.
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