MICL Group Acquires South Mumbai Project, Boosting Portfolio with ₹2,000 Crore Sales Potential
Man Infraconstruction Limited (MICL Group) has announced the acquisition of prime development rights in South Mumbai, significantly enhancing its luxury portfolio. The company acquired the development rights of Tardeo Court CHS and Tardeo Apartments CHS, alongside the outright purchase of Sethna House, all located in Tardeo, South Mumbai, under the Cluster Redevelopment scheme 33(9).Manan Shah, Managing Director of Man Infraconstruction Limited, commented on the development, stating that the Group's South Mumbai journey is marked by scale, speed, and consistent market absorption. He noted that the latest acquisition at Tardeo marks a 'hat-trick' for the Group in South Mumbai.
The new acquisition, termed 'Tardeo 2.0,' covers an approximate plot area of 46,000 sq. ft. and is strategically positioned in the area known as South Mumbai's Billionaires' address, which is expected to elevate the Group's ultra-luxury offerings. The proposed development project has an estimated sales potential exceeding ₹2,000 crore over the next four to five years.
The acquisition further solidifies MICL Group's presence in the high-value market. When combined with the Aaradhya Avaan project at Tardeo and the Marine Lines development, these three marquee South Mumbai projects represent a collective estimated sales potential exceeding ₹8,000 crores.
The development work will be carried out through Man Aaradhya Infraconstruction LLP, wherein MICL Group holds an approximately 50.5% equity stake.
For historical context, Maninfra reported its financial performance for the previous fiscal year.
| Financial Metric | Value (FY ended March 31, 2025) |
|---|---|
| Consolidated Total Income | Rs. 1,231 Crores |
| Net Profit | Rs. 283 Crores |
Man Infraconstruction Limited operates with two primary business verticals: Construction and Real Estate Development. The company has been an integrated EPC (Engineering, Procurement and Construction) company for nearly six decades, with extensive experience in various construction segments across India.
Stock Price Movement
At 10:30, Man Infraconstruction Ltd shares are edging higher, trading at ₹123.29, reflecting a strong 6.03% climb this morning. The equity has experienced a wide trading range today, bouncing between a low of ₹116.08 and an intraday high of ₹123.64.Disclaimer: Due care and diligence have been taken in compiling and presenting news and market-related content. However, errors or omissions may arise despite such efforts.
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