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.
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