Man Infraconstruction nears Rs 725 crore order

Recently listed Man Infraconstruction is set to receive a Rs 725 crore order from DB Realty. Sources close to the development told DNA, “The company has already got the order and some final details are being worked out. Announcement can happen anytime soon.” Another official close to the deal said, “Yes, the two are in talks for a possible order and Man Infra may have already got it.” When contacted, Ashok Mehta, chief financial officer, Man Infra said, “We haven’t finalised anything yet and will make the necessary announcement as soon as some concrete developments takes place.” Mehta declined to give any further details. A senior official from DB Realty, who did not wish to be identified, said, “Yes, we are giving the order to Man Infra but we can not divulge the details now.” Research analyst tracking the company said that the order would be for Jacob Circle, Mumbai, project where the realtor is building a residential project with golf course and other amenities.Man Infra’s order-book of Rs 1,400 crore will surge by over 50% to Rs 2,125 crore with the DB Realty order. An analyst tracking the company said, “Man Infra, at the time of its listing had said that its earnings per share will be Rs 27.55-32 per share. This is very positive for the company.”