Meghna Infracon Soars with Launch of Luxurious Residential Project in Mumbai
Meghna Infracon's new residential project, Rivaan, in Goregaon, Mumbai, sends stock soaring 19%. Real Estate, office spaces, Commercial Real Estate.
Real EstateCommercial Real EstateResidential ProjectsMumbaiMeghna Infracon InfrastructureReal EstateJun 26, 2024
The company's managing director, Vikram Jayantilal Lodha, stated that the affluent residential project is built on approximately 1 lac square feet of carpet area. He emphasized that the launch of 'Rivaan' marks a significant milestone in their journey towards becoming the preferred luxurious real estate developers in Mumbai. The construction work at the site has commenced and shall be executed as per the scheduled timelines.
The 'Rivaan' project offers a community living concept with residences in 1 and 2 BHKs along with commercial units on the first floor located in the prime area of Goregaon west. According to the data available with exchanges, the company recorded Rs 12.93 crore in fiscal year 2022-23, while recording a net loss of Rs 1.97 crore.
information Meghna Infracon Infrastructure has a total market capitalization of Rs 460 crore. The company's shares are presently trading at a price to earnings multiple of 1576.98 times with an earning per share of Rs 0.25.
At 02 00 PM, the shares of the company pared most of its gains and were trading 7.62 per cent higher at Rs 423.45 per share on the BSE. By comparison, the BSE Sensex was up by 0.70 per cent at 78,600 levels.
Frequently Asked Questions
What is the name of Meghna Infracon's new residential project?
The name of Meghna Infracon's new residential project is 'Rivaan'.
Where is the 'Rivaan' project located?
The 'Rivaan' project is located in Goregaon (west), Mumbai.
What is the carpet area of the 'Rivaan' project?
The 'Rivaan' project is built on approximately 1 lac square feet of carpet area.
What is the current market capitalization of Meghna Infracon Infrastructure?
The current market capitalization of Meghna Infracon Infrastructure is Rs 460 crore.
What is the price to earnings multiple of Meghna Infracon Infrastructure's shares?
The price to earnings multiple of Meghna Infracon Infrastructure's shares is 1576.98 times.
Related News Articles
US Real Estate Investment Opportunities Now Available in Bengaluru with Ashton Gray
Ashton Gray Investments, a leading US real estate investment firm, has expanded its presence to Bengaluru, offering Indian investors a chance to diversify their portfolios and achieve financial stability in the US market.
Bollywood Star Ronit Roy Buys Luxury Apartment in Mumbai's Versova for ₹18.94 Crore
Mumbai real estate: Ronit Roy and wife Neelam Roy purchase a 4,258 sq ft apartment in Versova area of Mumbai for ₹18.94 crore, according to property registration documents.
Air Quality Worsens in Pune and Pimpri-Chinchwad: Urgent Measures Needed
Explore the recent decline in air quality in Pune and Pimpri-Chinchwad, the causes, and the urgent need for sustainable solutions to improve the environment. Learn how urban planning and technology can play a crucial role in addressing this critical issue
Runwal Group Buys Kansai Nerolac Paints' Mumbai Property for Rs 726 Crore
Kansai Nerolac Paints, a leading paint manufacturer in India, has confirmed the sale of its property in Mumbai's Lower Parel area to the real estate developer, Runwal Group, for a staggering Rs 726 crore. This strategic acquisition is expected to bolster
PMPML Replaces 327 Old Buses with 400 New CNG Buses by 2025
The Pune Mahanagar Parivahan Mahamandal Limited (PMPML) is set to enhance its fleet with 400 new CNG buses, replacing 327 old buses by 2025. This major initiative aims to improve public transportation and reduce environmental pollution in the city.
REA Group Appoints Vikas Wadhawan as COO of REA Cyber City
NEW DELHI, Jan 15: Australian real estate technology company REA Group has announced the appointment of Vikas Wadhawan as the Chief Operating Officer (COO) of REA Cyber City. Wadhawan will be responsible for overseeing the operations and driving growth fo