New Projects Upcoming at Quarter End
The Infraconstruction companies are coming up with huge projects. Recently Man Infraconstruction has come into diverse EPC projects, where they have advantage on real estate side with construction and have an area of approximately 24 lakh square feet. Besides the company has moved into the fields of procurement, engineering and construction. Recently in CNBC- TV interview, Mr Parag Shah, Managing Director of Man Infraconstruction spoke about the financial position and performance of their company. He announced that in the third quarter the company will be upcoming with many projects and they tied a joint venture as realty player of 50-50 with Wadhwa group with total investment of RS 300 core.
The project will be sold in a market value and the each flat will cost varies from Rs 1.4 core to Rs 2.6 core. The company is aiming at launching four to five projects by the next quarter end. Though the last quarter result was very good, even these projects will be at par, logically the impact of price will be there these projects. The company is coming up with new project namely the Atmosphere in Mulund west with tie-up with Wadhawa group with 1.8 million square feet and the project will take three to four years to complete. The total worth of the investment is about 300 core plus, and ManInfra construction will hold 100 Pere cent holding. The total size of the project is around Rs 4,000 core, the Epc projects will be acquired by Man Infra Structure to do this project where the project comprises of 24 lakh square feet. Man Infra construction is debit free company, even though previously done project is about 66 core and the total income was quite weak which downs 25 percent.
The ManInfraconstruction have the liquidity value of more than Rs 100 core and on which the stock price was RS 33.15 down Rs 0.25, or 0.75 percent on November 27, 2014 at 11:25 hrs. The share was high on 52 week of Rs 37.56 and low rate was 16.86… The earnings per share (Eps) of trailing12- month (TTM) was at Rs 2.19 per share at quarter end of September 2014. The earning per ratio was 15.14. And the current value, the price to book value of the company is 1.39.
Article Source: Money Control
