Small Cap Construction Company Bagged Order Worth Rs 680 Cr, Hit New 52 Week High

Man Infraconstruction Ltd., a small cap CivilConstruction company, bagged order for pavement work on the reclaimed earth and has received Letter of Acceptance (LoA) for ~ Rs. 680 Crores (inclusive of GST) from Bharat Mumbai Container Terminal Private Limited (BMCTPL) for execution of Phase 2 Infrastructure Works at Fourth Container Terminal of JNPT.

The company informed the exchange in a press release on Friday, June 23, 2023. Man Infraconstructin has a market capitalisation of Rs. 4,295.37 crore.

Man Infraconstruction Limited (''the Company'') has received Letter of Acceptance (LoA) for rv Rs. 680 Crores (inclusive of GST) from Bharat Mumbai Container Terminal Private Limited (''BMCTPL'') for execution of Phase 2 Infrastructure Works at Fourth Container Terminal at Jawaharlal Nehru Port (JNPT), Navi Mumbai, Maharashtra within time-frame of 2.5 years. BMCTPL is subsidiary of the PSA International, a leading Global Port Group headquartered in Singapore. PSA is working with JNPT to develop this Fourth Container Terminal to cater to the increasing demands for container handling capacity and facilitate maritime trade in the Country.

Commenting on this development, Mr. Manan P. Shah, Managing Director said, "Manlnfra Group has successfully executed Phase 1 Infra Works for BMCTPL within a challenging time-frame of 22 months instilling its added confidence within our group. This achievement has significantly bolstered BMCTPL's confidence in the exceptional work quality and capability of our company. Our commitment to excellence and delivering exceptional standards has been acknowledged, paving the way for this renewed opportunity.

We are once again delighted to win this prestigious Letter of Acceptance (LoA) and the commencement of Phase 2 Infra Works signifies another notable milestone in our association with BMCTPL. With both the responsibility of land reclamation and infrastructure development in our hands, we are filled with elation and gratitude for this opportunity. Man Infraconstruction Limited being an esteemed construction service provider in the field of Port Infrastructure, is dedicated to fulfilling its commitment of delivering the project ahead of schedule. We eagerly anticipate undertaking this prestigious project and delivering exceptional results in accordance with our established reputation."

Stock Movement

On BSE, following the order announcement, the stock hit the new 52 week high of Rs 119.05 apiece on Friday. Meanwhile, it traded the 52 week low on 28 March 2023 at Rs. 66.25 apiece. The stock closed at Rs. 115.66 apiece, 0.39% down compared to its previous close.

The stock surged 3.37% in the past 1 week. It jumped 22.65% positive return in the past 1 month, while in 3 months, it gave a robust return of 61.67%. The stock gave 44.67% positive return in 1 year. In 3 years, it gave 722.23% positive return. In 5 years, it gave 256.24% positive return.

About - Man Infraconstruction Limited

Maninfra (NSE - MANINFRA, BSE - 533169) is net Zero Debt Company with an Annual Consolidated Revenue of Rs. 1890.35 Crores and Net Profit of Rs. 258.57 Crores for the financial year ended 31st March, 2023. It is headquartered in Mumbai having two business verticals viz., Construction and Real Estate Development. Maninfra is an integrated EPC (Engineering, Procurement and Construction) company with nearly six decades of experience and execution capabilities in Port, Residential, Commercial & Industrial and Road construction segments with projects spanning across India. As a Real Estate Developer, Maninfra Group has delivered 14 residential projects in Mumbai and is recognized 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.