Meghna Infracon Bags Five Redevelopment Projects in Mumbai Metropolitan Region, India; Shares Up 3%
Real estate developer Meghna Infracon Infrastructure (BOM:538668) has secured five new redevelopment projects in the Mumbai Metropolitan region of India, according to a BSE filing on Tuesday.These projects have an estimated gross development value of around 6 billion Indian rupees. With this, the company's total construction pipeline now stands at over 1 million square feet, with a cumulative estimated gross development value of over 10 billion rupees.Among the portfolio, the company is developing a luxury sea-facing residential development named Bharti CHS project in Mumbai, India, with an estimated revenue potential of approximately 2.40 billion rupees and a projected timeline of 2029.It is also developing an ultra-luxury Viram project in Juhu, which is expected to generate around 850 million rupees.The company's shares were up nearly 3% in recent trade.
