Man Infraconstruction Limited (MICL), headquartered in Mumbai, a leading construction company and a pioneer name in real estate development, on Tuesday announced its results for the period of Q1FY24. MICL reports strong growth in operational and financial performance, the company announced through an exchange filing.
Q1FY24 Highlights
MICL Group added another Ultra-Luxurious Residential Project with saleable carpet area of approx 4.0 lakh sq. ft. in Ghatkopar East, Mumbai. The company bags another significant size EPC order worth ₹680 Cr (inclusive of GST) from BMCT (PSA Group) for pavement work on the reclaimed earth on execution of Phase II Infrastructure Works at the Fourth Container Terminal of JNPT.
Consolidated Financials
Revenue from operations saw strong growth of 45 percent YoY to ₹510 crore . Total Income also grew by 45 percent to ₹524 crore and EBITDA grew by 63 percent YoY to ₹109 crore. Net profit jumped by 112 percent YoY to ₹82 crore.
"We are very excited to bag another port order from BMCT (PSA group) which will strengthen our EPC order book. We are also proud with the latest addition to our real estate portfolio of an ultra-luxurious residential project in Ghatkopar East, Mumbai – a grandiose development that epitomizes elegance and exclusivity. This acquisition is in line with our asset-light strategy," said Manan Shah, Managing Director of Man Infraconstruction Limited.
Man Infraconstruction Limited Shares
The shares of Man Infraconstruction Limited on Tuesday at 3:30pm IST were at ₹119.65, down by 1.52 percent.
(To receive our E-paper on WhatsApp daily, please click here. To receive it on Telegram, please click here. We permit sharing of the paper's PDF on WhatsApp and other social media platforms.)
