Meghna Infracon Expands to South Mumbai with 1:1 Bonus Share Offer
Meghna Infracon Infrastructure Limited (MIIL Group) has announced its strategic expansion into South Mumbai with a new residential redevelopment project in Dadar/Prabhadevi. This project, spanning approximately 31,000 square feet of construction area, is projected to generate an estimated Rs 800 million in revenue. The development is set to launch in Calendar Year 2025 and will offer luxury residences with sea and city-facing views, excellent connectivity to corporate hubs, and proximity to recreational centers and essential amenities within a 2 km radius. This marks MIIL's entry into South Mumbai, building on its established presence in premium locations like Goregaon and Andheri.
Additionally, MIIL has 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.
MIIL has a strong track record in real estate development, with a focus on delivering high-quality projects in Mumbai. The company has extensive experience in construction management and has the inherent skills and resources to develop and deliver real estate projects. According to the latest 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, with an ROE of 53 per cent and an ROCE of 70 per cent. The stock has given 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. This strong performance underscores the company's growth potential and commitment to delivering value to its shareholders.
The expansion into South Mumbai and the 1:1 bonus share issue are significant milestones for MIIL, reflecting its strategic vision and financial strength. These developments are expected to further enhance the company's market position and shareholder value in the highly competitive real estate sector.
Disclaimer: The article is for informational purposes only and not investment advice.
