Man Infraconstruction Limited (MICL Group) has received the Intimation of Disapproval (IOD) for its Atmosphere Commercial Project at Nahur, Mulund West. The project marks the final phase of the integrated Atmosphere development initiated in 2014.
Atmosphere Development Overview
Over the past decade, MICL Group has developed a strong ecosystem in the micro-market through Atmosphere and Atmosphere O2, delivering approximately 1500 residences with nearly carpet area of 11 lakh sq. ft., and ~100% sold out. The commercial project Gateway further strengthened the portfolio with approximately 1.37 lakh sq. ft. of development, which is also fully sold out, collectively contributing to the transformation of the corridor into a live-work destination.Commenting on the development, Mr. Manan Shah, Managing Director, Man Infraconstruction Limited (MICL Group), stated: 'The receipt of IOD for Atmosphere Commercial marks a significant milestone as it completes the broader Atmosphere vision. With improving connectivity through key infrastructure upgrades, we see continued demand for quality commercial spaces. The project has an estimated 7200 sq. ft of carpet area for sale.'
MICL Group holds a 30% equity stake in the project.
Man Infraconstruction Limited reported consolidated Total Income of Rs. 1,231 Crores and Net Profit of Rs. 283 Crores for the financial year ended 31st March, 2025. It is a net cash positive company at consolidated levels as on March 2025. The company is headquartered in Mumbai and operates two business verticals: Construction and Real Estate Development. MANINFRA is an integrated EPC (Engineering, Procurement and Construction) company with nearly six decades of experience and execution capabilities in Port, Residential, Commercial & Industrial, and Road construction segments with projects spanning across India. As a Real Estate Developer, MICL Group has delivered several residential projects in Mumbai and is recognized for its superior quality construction and timely project delivery.
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