1:1 bonus share: Real estate company expands to South Mumbai, enters into re-development of residential project and to generates revenue of Rs 800 million
The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 367.90 per share and a whopping 7,560 per cent in 5 years.
Meghna Infracon Infrastructure Limited (MIIL Group) has expanded into South Mumbai, entering a residential redevelopment project in Dadar/Prabhadevi. This new development, spanning approximately 31,000 sq. ft. of construction area, is projected to generate an estimated Rs 800 million in revenue. The project, expected to launch in CY 2025, will offer sea and city-facing luxury residences with excellent connectivity to corporate hubs and recreational centers, situated near Shivaji Park, Prabhadevi Station, and essential amenities within a 2 km radius. This marks MIIL's strategic entry into South Mumbai, building on its established presence in premium locations like Goregaon and Andheri.
Additionally, the company announced a 1:1 bonus share issue, which was approved by its members. For every one fully paid-up equity share of Rs. 10 held, shareholders will receive one additional fully paid-up bonus equity share of Rs. 10. The company's Board of Directors has set July 08, 2025, as the Record Date to determine eligible shareholders for this bonus allotment. The bonus shares will be issued by capitalising the necessary amount from the company's Securities Premium Account, Free Reserves, or other permitted reserves/surplus, thereby increasing the company's paid-up capital.
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About the Company
Meghna Infracon Infrastructure Limited (Script Code-538668) is headquartered in Mumbai, with having business of real estate development. MIIL Group has delivered multiple Residential projects in Mumbai and is recognised for its superior quality construction and timely project delivery. The Company has extensive experience in construction management and has inherent skills and resources to develop and deliver Real estate projects.
According to Quarterly Results, the net sales increased by 19 per cent to Rs 12.12 crore and net profit increased by 616 per cent to Rs 4.15 crore in Q4FY25 compared to Q4FY24. In its annual results, the net sales decreased by 25 per cent to Rs 39.88 crore and net profit increased by 209 per cent to Rs 9.79 crore in FY25 compared to FY24.
The company has a market cap of over Rs 1,200 crore. The shares of the company have an ROE of 53 per cent and an ROCE of 70 per cent. The stock gave multibagger returns of over 200 per cent from its 52-week low of Rs 367.90 per share and a whopping 7,560 per cent in 5 years.
Disclaimer: The article is for informational purposes only and not investment advice.