MAN INFRACONSTRUCTION LIMITED — Regulatory Filings 2024

Mar 22, 2024

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Digitally signed by DURGESH SUHAS DINGANKAR
DURGESH DN: c=IN, o=Personal, title=9108, 2.5.4.20=8c7b193392f7a480ae20a67e5f4a
dd4698e12763a58a5bc1f13f05f3ca32c043
SUHAS , postalCode=400606, st=Maharashtra, serialNumber=c14870eb41544078e6d79d
2077b30fc53c9ea8283ca9588779b67513e
b334af7, cn=DURGESH SUHAS
DINGANKAR DINGANKAR
Date: 2024.03.22 10:11:30 +05'30'
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MICL Group acquires another project in South Mumbai

"An Iconic Uber luxurious Sea-Facing Residential project near Marine Lines"

Mumbai, March 22, 2024: This ultra-luxurious project at Marine Lines shall be another prestigious addition to MICL's real estate portfolio in South Mumbai. It is set to become yet another tallest residential structures in India to be done by MICL group surpassing the height of above 800 feet . With a proven track record of delivering all its 16 projects before time, MICL group intends to deliver this project in a span of 5 years from launch date.

With the total construction area of approximately 22 lakh square feet offering a RERA carpet area of around 5.3 lakh square feet for sale, the project is expected to generate total sales value of above Rs. 2,100 crore. The project is executed under our asset-light Development Management (DM) model and we have secured a Letter of Intent (LOI) from Shreepati Zaoba Housing LLP.

MICL is poised to achieve an expected Profit Before Tax of Rs. 400+ crore from this project. This shall comprise of the DM fees, Project Management Consultancy (PMC) fee on construction and an interest income on the initial investment made by the company in the project.

Commenting on this development, Mr. Manan P. Shah, Managing Director said, “ We are extremely pleased to announce the arrival of the uber-luxurious sea-facing property near Marine Lines. This project is poised to redefine Mumbai's skyline, offering an unparalleled view of the ocean to a select few. Notably, this marks MICL Group's second venture into uber-luxurious residential projects in South Mumbai, following the launch of our first project, ‘Aaradhya Avaan’ at Tardeo, which shall be one of the tallest towers in the country, surpassing 1,000 feet in height. The Marine Lines project is expected to exceed 800 feet in height and will feature a range of ultra-luxurious amenities, promising to set a new standard for lifestyle and living in South Mumbai.”

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Contact Details:

Company:	Company:		Investor Relations: Go India Advisors	Investor Relations: Go India Advisors
Mr. Yashesh Parekh A.G.M. – Investor Relations & Corporate Finance			Mrs. Sheetal Khanduja Head- IR Practice
Email:	yashesh@maninfra.com		Email:	sheetal@goindiaadvisors.com
Mob:+91 8108321555			Mob:+91 9769364166
www.maninfra.com			www.goindiastocks.com

About Man Infraconstruction Limited:

Maninfra (NSE - MANINFRA, BSE - 533169) is net cash positive Company with an Annual Revenue of Rs. 1,890.35 Crores and Net Profit of Rs. 258.57 Crores at the consolidated levels for the financial year ended 31[st] March, 2023. It is headquartered in Mumbai having two business verticals viz., Construction and Real Estate Development. Maninfra is an integrated EPC (Engineering, Procurement and Construction) company with nearly six decades of experience and execution capabilities in Port, Residential, Commercial & Industrial and Road construction segments with projects spanning across India. As a Real Estate Developer, Maninfra Group has delivered 16 residential projects in Mumbai and is recognized for its superior quality construction and timely project delivery. The Company has extensive experience in construction management and has inherent skills and resources to develop and deliver Real estate projects. For more information, please visit www.maninfra.com.

Safe Harbor:

Any forward-looking statements about expected future events, financial and operating results of the Company are based on certain assumptions which the Company does not guarantee the fulfilment of. These statements are subject to risks and uncertainties. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Company's operations include a downtrend in the industry, global or domestic or both, significant changes in political and economic environment in India or key markets abroad, tax laws, litigation, labour relations, exchange rate fluctuations, technological changes, investment and business income, cash flow projections, interest, and other costs. The Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof.

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