Introduction:
Real estate major has launched a luxury residential project, “RIVIERA,” in the prime Goregaon (West) area of Mumbai. The project, spanning 30,000 sq. ft., offers premium 1 and 2 BHK residences with exceptional connectivity and sale potential.
Share price movement of Meghna Infracon:
On December 2, 2024, Meghna Infracon Infrastructure Ltd opened at ₹689.50, up 1.1% from ₹681.95. The stock reached a high of ₹758.40 (11.2%) and a low of ₹680.00. By 12:16 PM, it traded at ₹718.75, a 5.4% increase, with a market cap of ₹780.70 crore.
MIIL launches luxury project:
Meghna Infracon Infrastructure Limited (MIIL) has announced the launch of its new luxury residential project, “RIVIERA,” located in the prime area of Goregaon (West), Mumbai. The project marks MIIL’s strategic expansion into the luxury real estate segment.
The development spans a built-up area of approximately 30,000 sq. ft., with an estimated sale potential exceeding ₹220 million. The project will offer premium 1 and 2 BHK residences, ensuring a high standard of living with excellent connectivity to key city landmarks.
Vikram Jayantilal Lodha, MD of MIIL, expressed excitement about this milestone, emphasizing the company’s commitment to becoming a leading name in Mumbai’s luxury real estate market. The construction work for “RIVIERA” is underway, with timelines set for completion.
Recent news on Meghna Infracon:
As of November 15, 2024, Meghna Infracon Infrastructure reported an 84.62% decline in net profit, falling to ₹0.30 crore in Q2 FY24, compared to ₹1.95 crore in Q2 FY23. The company reported no sales during the quarter.
Stock performance of Meghna Infracon for Period of 1 week, 6 months and 1 year:
Meghna Infracon Infrastructure has shown impressive growth, with a 10.0% return over the past week. The company has delivered a remarkable 122% return over the last six months and an exceptional 196% return over the past year, reflecting strong performance.
Shareholding pattern of Meghna Infracon:
| All values in % | Sep 2024 | Jun 2024 | Mar 2024 |
| Promoter | 46.90% | 46.90% | 46.90% |
| FII | 0.90% | 0.80% | 0.20% |
| DII | 0% | 0% | 0% |
| Public | 52.20% | 52.30% | 52.90% |
About Meghna Infracon:
Meghna Infracon Infrastructure (BSE-538668), headquartered in Mumbai, is a leading real estate developer known for delivering high-quality residential projects. The company excels in construction management and consistently delivers projects on time.
Disclaimer: The above article is written for educational purposes, and the companies’ data mentioned in the article may change with respect to time The securities quoted are exemplary and are not recommendatory.
