EPC firm Man Infraconstruction Ltd (Man Infra) has announced that one of its promoters has raised its shareholding in the company. The company, in an exchange filing, said that one of its promoters Mansi P Shah had raised shareholding by adding 2 lakh shares in her portfolio. 

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Shah purchased a total of 2 lakh equity shares of Man Infra through open market transactions on Thursday, March 14, 2024.

With this acquisition, Mansi P Shah owns 5,88,95,139 equity shares or 15.86 per cent stake in the company.

Earlier, Man Infraconstruction Ltd posted a fall of 4.5 per cent to Rs 86.51 crore in the December 2023 quarter due to lower income. It had clocked a net profit of Rs 90.60 in the October-December period of the preceding 2022-23 financial year, the company said in an exchange filing.

The company's total income fell to Rs 261.34 crore as against Rs 471.77 crore in the year-ago period.

However, the company managed to trim its expenses to Rs 149.07 crore from Rs 346.21 crore in the third quarter of FY23.

The company is into verticals like ports, infrastructure, commercial projects, institutions, IT projects and futuristic lifestyle houses.