MICL Group Secures Intimation of Approval for Tardeo 2.0, Boosting South Mumbai Portfolio Value
Man Infraconstruction Limited (MICL Group) has successfully secured the Intimation of Approval (IOA) for its Tardeo 2.0 project in South Mumbai, marking a significant development milestone for the Real Estate developer. The project is estimated to have a Gross Development Value (GDV) exceeding ₹2,000 crores.The Tardeo 2.0 development, which spans approximately 46,000+ sq. ft. of plot area in one of South Mumbai's premium residential locations, will be developed through Man Aaradhya Infraconstruction LLP, in which MICL Group holds a 50.5% equity stake. The project is planned for launch in Fiscal Year 27 (FY27).
Commenting on the achievement, Mr. Manan Shah, Managing Director of MICL Group, stated that this milestone allows for the progression of Tardeo 2.0, one of their major South Mumbai developments. The approval facilitates steps towards vacating premises, preparation for demolition, and obtaining all requisite approvals ahead of the project launch.
The Tardeo 2.0 initiative strengthens MICL's presence in the strategic micro-market. When combined with other marquee South Mumbai projects, including Aaradhya Avaan and the Marine Lines project, these developments represent a cumulative GDV potential exceeding ₹8,000 crores, indicating strong growth visibility for the company’s pipeline.
Company Snapshot and Financial Performance
Man Infraconstruction Limited is an integrated EPC (Engineering, Procurement and Construction) company with nearly six decades of experience in construction across Port, Residential, Commercial & Industrial, and Road segments throughout India. As a Real Estate Developer, MICL Group has demonstrated expertise in superior quality construction and timely project delivery.In terms of recent consolidated performance for the financial year ended March 31, 2025, Maninfra reported:
| Financial Metric | Value (FY ending Mar 2025) |
|---|---|
| Consolidated Total Income | Rs. 1,231 Crores |
| Net Profit | Rs. 283 Crores |
The company is noted as a net cash positive entity at consolidated levels as of March 2025 and operates in both Construction and Real Estate Development verticals.
Stock Price Movement
As of 12:55, shares of Man Infraconstruction Ltd are edging higher, currently trading at ₹105.00, marking a gain of 1.11%. The stock experienced movement throughout the session, navigating between an intraday low of ₹103.35 and a peak high of ₹106.50.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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