About Man Infraconstruction Limited

Man Infraconstruction Limited (MICL) is a public company incorporated on August 16, 2002, engaged in civil construction and real estate development, with equity shares listed on BSE and NSE in India. The company operates through EPC (engineering, procurement, construction) and real estate development, with a strong presence across Mumbai’s micro-markets including Tardeo, Marine Lines, Pali Hill, BKC, Goregaon West, Ghatkopar East, Vile Parle West, Dahisar, and Mulund West as of March 2025. MICL has transitioned towards premium and luxury residential offerings while maintaining in-house EPC capabilities, supported by an EPC order book of Rs 503.00 crore as on March 2025 and in-house construction scope of about 1.50 crore sq. ft. across ongoing and upcoming projects to be executed over the next few years depending on launch cycles. The group also initiated calibrated international expansion via its wholly owned subsidiary, MICL Global Inc., acquiring minority membership interests in two Miami projects: a luxury project in Coconut Grove (8,000 sq. ft.; 25% interest) and “Botanic” near Brickell (40,000 sq. ft.; 40% interest) during FY 2024–25. Key milestones in FY 2024–25 include robust sales of Rs 2,251.00 crore, launches aggregating 5.70 lakh sq. ft. with an estimated sales potential of Rs 1,600.00 crore, and near full sell-out in completed portfolio of 2.80 million sq. ft., alongside full sell-outs at Aaradhya Evoq (Juhu) and Aaradhya OneEarth (Ghatkopar East) and strong absorption at Atmosphere O2 and The Gateway (Nahur, Mulund West).

Man Infraconstruction Limited Business Segment

• Revenue from operations (Consolidated) for FY 2024–25 was Rs 1,108.07 crore; total income was Rs 1,231.23 crore; EBITDA was Rs 324.19 crore (29.3% margin); PAT after minority interest was Rs 282.72 crore (23.0% margin).

• MICL remains net debt-free at the consolidated level with liquidity of Rs 570.00 crore as of March 2025; warrants of Rs 543.00 crore were raised in January 2024, of which Rs 183.00 crore was received by March 2025 and the balance was expected by July 2025 as per the report’s MD message.

• Geographic split of revenues by domestic vs. international and segment-wise percentage contributions are not disclosed; hence, this section is skipped as per instructions.

Man Infraconstruction Limited Key Management

• Berjis M. Desai — Non-executive Director, Chairman

• Parag K. Shah — Non-executive Director, Chairman Emeritus

• Manan P. Shah — Managing Director

• Ashok M. Mehta — Whole-time Director and Chief Financial Officer

• Company Secretary and Compliance Officer: Durgesh S. Dingankar

Latest Updates on Man Infraconstruction Limited

• Launched Jade Park, a large cluster development in Vile Parle West, comprising premium 3–5 BHK residences across nine G+15 towers on a 3-acre site with 50% open greens, achieving strong inventory absorption at launch (FY 2024–25).

• Launched two new 35-storey towers at Aaradhya Parkwood, Dahisar East, featuring premium 1–2 BHK and jodi units with forest views and 60 amenities, driving healthy sales momentum (FY 2024–25).

• Showed continued sales traction in marquee FY 2023–24 launches—Aaradhya OnePark (Ghatkopar) and Aaradhya Avaan (Tardeo)—achieving about 40% of total sales potential of ~Rs 4,200.00 crore by March 2025.

• Reported sales of Rs 2,251.00 crore in FY 2024–25 versus Rs 744.00 crore in the prior year; launched 5.70 lakh sq. ft. with ~Rs 1,600.00 crore potential and achieved nearly 45% sales within 4–5 months of launch since January 2025.

• Exited residual development rights in a Dahisar project to sharpen focus on profitability and luxury segment portfolio premiumisation (FY 2024–25).

• Planned FY 2025–26 launches: multiple projects aggregating ~7.50 lakh sq. ft. with estimated sales potential of ~Rs 3,400.00 crore in Marine Lines, BKC, and Pali Hill, pending regulatory approvals.

• Consolidated revenue from operations Rs 1,108.07 crore; total income Rs 1,231.23 crore; EBITDA Rs 324.19 crore; PAT (post NCI) Rs 282.72 crore in FY 2024–25; net debt-free with liquidity Rs 570.00 crore as of March 2025.

• Completion and sell-outs: fully sold at Aaradhya Evoq (Juhu) and Aaradhya OneEarth (Ghatkopar East); near sell-out at Atmosphere O2 and The Gateway (Nahur, Mulund West) by FY 2024–25.

International: MICL Global Inc. acquired two Miami projects—Coconut Grove (8,000 sq. ft.; 25% membership) and “Botanic” near Brickell (40,000 sq. ft.; 40% membership)—reflecting a conservative overseas strategy (FY 2024–25).