Man Infraconstruction (MICL Group) announced a strategicrealignment 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 towards 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.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.�Powered by Capital Market - Live News

Net profit of Man Infraconstruction declined 36.05% to Rs 44.54 crore in the quarter ended September 2024 as against Rs 69.65 crore during the previous quarter ended September 2023. Sales rose 6.98% to Rs 230.32 crore in the quarter ended September 2024 as against Rs 215.29 crore during the previous quarter ended September 2023. ParticularsQuarter EndedSep. 2024Sep. 2023% Var. Sales230.32215.29 7 OPM %11.9729.78 - PBDT65.0185.21 -24 PBT63.0082.88 -24 NP44.5469.65 -36 Powered by Capital Market - Live News

Man Infraconstruction will hold a meeting of the Board of Directors of the Company on 12 November 2024Powered by Capital Market - Live News

Man Infraconstruction announced the successful acquisition of the Commencement Certificate (CC) for its highly anticipated Vile Parle project. This key milestone sets the stage for the formal launch of the project, which is expected to take place shortly after securing the necessary RERA approvals.Located on Swami Vivekanand (S.V.) road the project offers excellent connectivity to nearby schools, colleges, hospitals, railway station, airport, beach and entertainment hubs. This is the first cluster development of Vile Parle West and yet another successful cluster development by MICL Group.The Vile Parle project spread over 3 acres comprise 10 residential towers, each 15 storeys high. It offers a total carpet area for sale of approximately 3.5 lakh sq. ft.featuring premium 2 BHK, 3 BHK and 4 BHK residential spaces. The project has total estimated sale potential of over ₹1,200 crores. The project is executed through a JV entity of MICL Group under asset-light Development Management (DM) model.Powered by Capital Market - Live News

Man Infraconstruction (MICL Group) has secured the Occupancy Certificate (OC) for the F-wing of its prestigious Atmosphere O2 project in Mulund West, Mumbai within ~3.5 years of its launch. This milestone is part of MICL Group`s consistent track record, having successfully delivered 2.8 million square feet of carpet area ahead of schedule, showcasing its expertise and commitment to timely project completion.The Atmosphere O2 project spans ~7.2 lakh square feet of RERA carpet area and 18.6 lakh square feet of construction area, featuring three 47-storey residential towers and an 18-storey commercial tower. The project with a revenue potential of about Rs. 1,650 crore is almost sold out and has made a total collection of about Rs. 1475 crore as of Sep-24 from its bookings. This reflects the overwhelming demand and confidence that buyers have placed in MICL Group`s premium offerings. Following the resounding success of Atmosphere (Phase 1), Atmosphere O2 has emerged as one of the most sought-after gated community projects in Nahur, Mulund West. Launched in November 2019, MICL Group delivered Towers D & E in September 2023, followed by the completion of Tower F in September 2024.Powered by Capital Market - Live News