Old Roots, New Roofs—Meghna Infracon Puts Prabhadevi on the Premium Map

Image Source: Housing

Meghna Infracon Infrastructure Ltd (MEGC.BO) has taken one more step forward in its property business by inking a redevelopment agreement for a luxury residential scheme in Prabhadevi, Mumbai. The scheme will generate revenue of ₹800 million (₹80 crore), an important milestone in the company's growth trajectory.

1. Strategic Redevelopment in Prabhadevi

The project involves the redevelopment of an existing residential complex, aligning with Mumbai’s growing demand for modernized urban housing.
With a focus on luxury living and sustainable design, the redevelopment will offer upgraded amenities and enhanced infrastructure.
This move strengthens Meghna Infracon’s presence in South Mumbai’s high-value real estate corridor.

2. Company’s Vision and Market Impact

Managing Director Vikram Jayantilal Lodha emphasized the company’s commitment to creating iconic developments that elevate urban living standards.
The project is part of Meghna Infracon’s broader strategy to capitalize on redevelopment opportunities in Mumbai’s saturated housing market.
The announcement has already sparked investor interest, with shares trading at a recent high of ₹560 apiece.

3. Previous Milestones and Growth Outlook

Meghna Infracon recently introduced the "Manju Villa" project at Goregaon West, which is expected to yield ₹37 crore in revenues.
The company also won a ₹40 crore redevelopment contract in Lokhandwala, Andheri (West), solidifying its position even stronger in the real estate market of Mumbai3.

Currently having a market cap in excess of ₹600 crore, Meghna Infracon is swiftly transforming from a boutique player to a force to reckon with in urban redevelopment.

Sources: Business Standard, The Hindu BusinessLine, ProjxNews