Construction Stock Gains 4% On Achieving Rs. 333 Cr of Sales From Aaradhya OnePark Project

The shares of Man Infraconstruction (MICL) saw a four per cent rise in value from the previous close on Wednesday when it proudly announced the remarkable success of its latest project, "Aaradhya OnePark." The shares opened on the BSE at Rs 231.65 apiece and rose to an intraday high of Rs 239.80.

Since its inception, the "Aaradhya OnePark" project, sold a record-breaking Rs. 333 crore. This outstanding accomplishment represents over 25% of the project's total projected sales potential and solidifies MICL's standing as a market leader in Mumbai's luxury real estate sector. In the upcoming quarters, and it still anticipate this initiative to have such high sales traction.

Situated strategically along Ratilal B. Mehta Marg in Ghatkopar East, Mumbai, the well-planned 'Aaradhya OnePark' project offers a smart mix of 3 BHK, 4 BHK, and 5 BHK residences, among other configurations. With over 50 lifestyle amenities and themed landscapes, the development promises to provide its residents with an excellent quality of life.

Residents have come to trust MICL because of its excellent reputation for high-quality construction and timely delivery, which is evidence of the company's success in navigating the real estate market.

Mr. Manan P. Shah, Managing Director said, "The successful launch of the 'Aaradhya Onepark' project is a noteworthy level of performance for the Company. This is another significant milestone in the company's success. The outstanding response to 'Aaradhya OnePark' underscores the demand for premium real estate offerings in Mumbai and reflects MICL's commitment to delivering excellence in every aspect of its projects."

For the fiscal year that ended on March 31, 2023, ManInfra reported annual consolidated revenue of Rs. 1,890.35 Crores, net profit of Rs. 258.57 Crores, and a net cash positive balance sheet. With its two business verticals-construction and real estate development-it has its headquarters in Mumbai.