Shares of Man Infraconstruction Limited touched a day high of Rs 116.10 on 29 October after Q2 revenue jumped 57% and profit rose 9%.

Net profit came in at Rs 65.2 crore, up 8.7% from Rs 60 crore a year earlier. Revenue rose to Rs 266 crore from Rs 169 crore. Property sales did the heavy lifting.

The real estate arm brought in Rs 203.21 crore, almost double the Rs 106.87 crore of a year ago, yet its profit stayed flat at about Rs 57 crore.

The construction arm, which builds projects for outside clients, saw revenue hold at Rs 62.98 crore while its profit nearly doubled to Rs 28.58 crore.

Operating profit (EBITDA) rose 41.4% to Rs 80.6 crore. The margin narrowed to 30.3% from 33.7%, meaning about Rs 30 of every Rs 100 earned stayed as operating profit.

Sales picked up. The company booked sales of Rs 412 crore in the quarter, up from Rs 290 crore in the June quarter.

Ongoing projects, leaving out this year’s launches, are 65% to 70% sold and should near completion in six to 15 months.

The firm is also buying back its own shares in the open market, up to Rs 169 crore, and has completed 75.2% of that.

Its tie-up with Godrej Properties on the Marine Lines project has returned over Rs 300 crore of its investment, and it keeps a revenue share.

Its pipeline in South Mumbai and Bandra carries an expected sales value of over Rs 9,500 crore. It targets Rs 5,000 crore of pre-sales over FY27 and FY28.

In the June quarter, revenue rose 8% to Rs 218 crore and profit climbed 29% to Rs 71.6 crore.

Man Infraconstruction closed at Rs 110.66 on the NSE, down Rs 1.45 or 1.29% from the previous close of Rs 112.11.

It opened at Rs 114.74 and hit a low of Rs 108.50, so the stock gave back its early gains. It’s down 14.02% over the past month, as per NSE data.

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