Rs 728 crore order book: Debt-free civil construction company completes 19th real estate project ahead of schedule; Delivers Aaradhya Evoq in Juhu within 2.5 years

The company's shares have an ROE of 25 per cent and an ROCE of 30 per cent.

Man Infraconstruction Limited (MICL Group) is one of the leading names in the luxury residential real estate sector. Aaradhya Evoq marks the completion of MICL Group's 19th real estate project (including phases), all of which have been delivered ahead of schedule. This is a significant achievement that reinforces the company's dedication to timely execution and high standards. To date, MICL Group has successfully delivered 2.6 million square feet of carpet area, a testament to the group's expertise and commitment to delivering projects on time.

Aaradhya Evoq, the luxury residential project located in the prestigious neighbourhood of Juhu, Mumbai was completed in an impressive time frame of less than 2.5 years from its launch, further cementing MICL Group's commitment to timely project execution and customer satisfaction. With a total carpet area of around 60,000 square feet available for sale and a revenue potential of about Rs. 250 crores, the project has already sold out nearly 85 per cent of its residences and made a total collection of over Rs 165 crore. The overwhelming demand from buyers highlights the strong appetite for premium real estate in Mumbai’s prime locations.

This success reflects the trust and credibility that MICL Group has built in the market. Situated in Juhu, one of Mumbai’s most coveted neighbourhoods, the Aaradhya Evoq project is a stand-alone residential tower, offering a haven of opulence with a delightful view and an aesthetically striking façade. The development features an array of 21+ top-tier amenities spread across approximately 10,000 square feet, catering to the diverse needs of urban luxury living. The project offers lavish 3 and 4 BHK residences, making it an ideal destination for discerning homebuyers seeking comfort, exclusivity, and world-class living standards in the heart of Juhu.

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 June 2024, the company’s order book stands at Rs 728 crore. The company has a market cap of over Rs 7,000 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.

MICL Delivers Strong Q1FY25 Performance

MICL has reported robust performance in the first quarter of the financial year 2025. The company achieved a sales value of Rs 691 crore, surpassing its annual sales of Rs 744 crore in FY24. This impressive feat is coupled with a remarkable increase in consolidated PBT margins from 21.7 per cent in Q1FY24 to 30.7 per cent in Q1FY25.

Key Highlights and Strategic Initiatives

MICL has made significant strides during the quarter. A key highlight includes acquiring an ultra-luxury residential project in BKC, spanning 5.0 lakh sq. ft. with a saleable carpet area of 1.5 lakh sq. ft. The project is slated for launch in FY25 with an estimated delivery timeline of three years. Additionally, the company has achieved a 50 per cent sales milestone for its 'Aaradhya OnePark' project in Ghatkopar East within just six months of launch.

Furthermore, MICL has secured an Occupation Certificate for the commercial tower, 'Gateway', in its Atmosphere O2 project, delivered ahead of schedule within 3.5 years. With a total revenue potential of over Rs 1,650 crore, this project is nearing complete sell-out. MICL's strong brand presence is evident in the 99 per cent inventory sell-out across its completed projects.

Financial Performance and Outlook

MICL's financial health is robust, with a total income of Rs 368.4 crores and a PBT of Rs. 113.2 crores in Q1FY25. The company's PAT stands at Rs 77.5 crore, and it maintains a net-debt-free position with a cash and bank balance of Rs 487 crores. MICL has invested over Rs 1,000 crore in its real estate projects and generated a cash flow from operations of Rs 321 crores during the quarter.

With a strong project pipeline and a solid financial foundation, MICL is well-positioned for future growth. The company's prestigious projects, such as Aaradhya Avaan in Tardeo and Aaradhya OnePark in Ghatkopar, have significant revenue potential. Upcoming projects in Goregaon, Marine Lines, BKC, Pali Hill, Vile Parle and Dahisar further solidify MICL's position as a leading real estate developer in Mumbai.

Investors should keep an eye on this Small-Cap stock.

Disclaimer: The article is for informational purposes only and not investment advice. 

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