Meanwhile, the board of directors of the company has approved raising up to Rs 550.23 crore via the issue of the warrant on a preferential basis. Published: October 2, 2024 3:18 PM IST By Edited by Man Infraconstruction Limited (MICL), an integrated EPC (engineering, procurement & construction) company, has secured a Commencement Certificate (CC) for its luxurious Vile Parle Project.
The Vile Parle project spread over 3 acres comprises 10 residential towers, each 15 storeys high. It offers a total carpet area for sale of approximately 3.5 lakh sq.
ft. featuring premium 2 BHK, 3 BHK and 4 BHK residential spaces. The project has a total estimated sale potential of over Rs 1,200 crores.
The project is executed through a JV entity of MICL Group under the asset-light Development Management (DM) model. Meanwhile, the company’s share closed at Rs 191.40 on the BSE on Tuesday.
The stock had opened at Rs 191.70 and gained further to touch the high of Rs 192.95.
The 52-week high of the stock is Rs 249.40 and the 52-week low of the counter is Rs 136.95.
Earlier, Man Infraconstruction Limited, headquartered in Mumbai, clocked annual consolidated revenue of Rs 1,890.35 crores and a net profit of Rs 258.57 crores with a net cash positive balance sheet for the financial year ended March 31, 2023.
Meanwhile, the board of directors of the company has approved raising up to Rs 550.23 crore via the issue of the warrant on a preferential basis. (Disclaimer: The information provided in this art.