Man Infraconstruction edges higher after Mulund project records bookings of Rs 1,475 crore

Man Infraconstruction added 1.61% to Rs 192.50 after the company announced that its Mumbai-based project, having a revenue potential of about Rs 1,650 crore, has achieved nearly full sales.

In a regulatory filed with the bourses today, the company said that it has secured the occupancy certificate (OC) for the F-wing of its "Atmosphere O2" project located at Mulund West, Mumbai. The OC has been received within nearly 3.5 years of the launch of the project.

The Atmosphere O2 project spans nearly 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 1,475 crore as of Sep-24 from its bookings.

Manan Shah, managing director of MICL Group, said: "The swift sellout of such a large project before the OC is a testament to the trust our customers have in MICL's quality and timely delivery.

Atmosphere O2 reaffirms our leadership in execution, sales and our commitment to exceeding customer expectations."

Man Infraconstruction (MICL Group) (MANINFRA) has 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.

The company reported 19.99% decline in consolidated net profit to Rs 65.27 crore on 56.38% fall in net sales to Rs 296.74 crore in Q4 FY24 over Q4 FY23.

Powered by Capital Market - Live News