Rs 653 Crore EPC Order Book: MICL Group Realigns Portfolio with Strategic Focus on Mumbai's Luxury Segment
As of September 2024, the company’s order book stands at Rs 653 crore.
Man Infraconstruction Limited (MICL Group) one of the leaders in the luxury residential real estate sector proudly announce a strategic realignment of its real estate portfolio, by sharpening its focus on the luxury projects across Mumbai. As part of this strategic shift, MICL Group has divested from phase 3 of the project located near Dahisar in Mira Road. This divestment represents a strategic move to focus more efficiently on our upcoming luxury projects in Mumbai’s prime locations like Pali Hill (Bandra), BKC, Vile Parle, and Marine Lines.
Man Vastucon LLP a subsidiary of Man Infraconstruction Limited, has successfully delivered the first phase — ‘Aaradhya Highpark’, comprising 6.5 lakh square feet of carpet area which is almost sold out. The second phase, ‘Aaradhya Parkwood,’ spanning 5.3 lakh square feet of carpet area is currently under development and has also achieved remarkable sales. Man Vastucon has agreed to relinquish balance Development Rights pertaining to Phase 3 of the above project. With this portfolio realignment, MICL Group reaffirms its dedication to quality in luxury real estate, focused on meeting the evolving preferences of Mumbai’s premium market.
Commenting on this decision, Manan Shah, Managing Director of MICL Group, said, “This transaction is set to positively impact the cash flow, reduce costs, and enhance the overall profitability of the project. This divestment is also a strategic move to focus more efficiently towards our upcoming luxury projects in Mumbai’s prime locations.”
DSIJ’s 'multibagger Pick’ service recommends well researched multibagger stocks with High Returns potential. If this interests you, do download the service details here.
About the Company
Man Infraconstruction Ltd, a Mumbai-based company listed on both NSE (MANINFRA) and BSE (533169), specializes in EPC (Engineering, Procurement, and Construction) and Real Estate Development. With a 50-year EPC history and strong execution in ports, residential, commercial, industrial, and road sectors across India, ManInfra also excels in Mumbai's real estate market, delivering high-quality residential projects on time. Its construction management expertise and resources make it a capable real estate developer. As of September 2024, the company’s order book stands at Rs 653 crore. The company has a market cap of over Rs 6,400 crore and has delivered good profit growth of 48.3 per cent CAGR over the last 5 years. The company's shares have an ROE of 25 per cent and an ROCE of 30 per cent.
Investors should keep an eye on this Small-Cap stock.
Disclaimer: The article is for informational purposes only and not investment advice.