Meghna Infracon Infrastructure Limited (MIIL) witnessed a nearly 5% increase in its share price today following the announcement of its luxury residential project, ‘Riviera’, located in Goregaon (West), Mumbai. This strategic launch emphasizes MIIL’s ambition to strengthen its foothold in Mumbai’s premium real estate market.
Key Highlights of the Project:
- Prime Location: Situated with excellent connectivity to schools, colleges, hospitals, railway stations, and entertainment hubs in Goregaon (West).
- Built-Up Area: Approximately 30,000 sq. ft. of construction.
- Estimated Sale Potential: Over ₹220 million, reflecting high-value premium offerings.
- Execution Partner: Managed by Meghna Aakar Constructions, a subsidiary of MIIL, with a 95% ownership stake.
- Offerings: Featuring innovative community living with 1 and 2 BHK residences.
Leadership Comments:
Mr. Vikram Jayantilal Lodha, Managing Director of MIIL Group, remarked:
“The launch of ‘Riviera’ marks a significant milestone in our journey toward becoming the preferred luxurious real estate developer in Mumbai. The project introduces innovative community living and caters to the increasing demand for premium residences in Goregaon West.”
About Meghna Infracon Infrastructure Limited:
Headquartered in Mumbai, MIIL specializes in premium residential projects. Known for its superior construction quality and timely project delivery, the company has successfully executed multiple projects across the city.
Market Impact:
The announcement boosted investor sentiment, with MIIL shares trading at ₹713.00, reflecting a 4.55% increase. The project reinforces the company’s strategic focus on luxury housing and is expected to enhance its market position and financial performance.
