Man Infraconstruction Ltd share Price Today

Construction & Engineering company Man Infraconstruction announced Q1FY24 results:

• Revenue from operations saw strong growth of 45% YoY to Rs 510 crore compared to Rs 352 crore in Q1FY23
• Total Income also grew by 45% to Rs 524 crore compared to Rs 360 crore in Q1FY23
• EBITDA grew by 63% YoY to Rs 109 crore compared to Rs 67 crore in Q1FY23
• Net profit jumped by 112% YoY to Rs 82 crore compared to Rs 38.9 crore in Q1FY23
• MICL Group added another Ultra-Luxurious Residential Project with a saleable carpet area of ~4.0 lakh sq. ft. in Ghatkopar East, Mumbai
• Bags another significant size EPC order worth Rs 680 crore (inclusive of GST) from BMCT (PSA Group) for pavement work on the reclaimed earth on the execution of Phase II Infrastructure Works at the Fourth Container Terminal of JNPT

Commenting on the Q1FY24 results, Manan Shah, Managing Director of Man Infraconstruction, said, "We are very excited to bag another port order from BMCT (PSA group) which will strengthen our EPC order book. We are also proud of 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. There is good demand for premium lifestyle homes and luxury residential apartments in the MMR region in which we operate and we continue to focus to cater these markets through our upcoming projects and projects in the pipeline. With new project launches planned in the second half of the financial year, we expect to end the year on a strong note as we continue to look out for future growth opportunities.”

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