Man Infraconstruction Ltd

Man Infraconstruction Ltd

Man Infraconstruction Ltd (MICL) was incorporated on August 16 2002 as a Private Limited Company with the name 'Man Construction Pvt Ltd.' The Company converted into a Public Limited Company and its name was changed to Man Construction Ltd on July 15 2004. Headquartered in Mumbai the Company has undertaken projects in the six States of Maharashtra Kerala Gujarat West Bengal Goa and Tamil Nadu. The operations of Man Infraconstruction Ltd. (Man Infra) is divided into two business verticals viz. Construction and Real Estate Development. The Company is an integrated EPC (Engineering Procurement and Construction) company with over 50 years of experience and execution capabilities in Port Residential Commercial & Industrial and Road construction segments with projects spanning across India. As a Real Estate Developer it has delivered multiple Residential projects in Mumbai and is recognised for its superior quality construction and timely project delivery. The Company`s business is mix of Engineering Procurement and Construction (EPC) & Asset Ownership/ Real Estate. Various development/re-development projects are executed by the Company and its subsidiaries/associates in and around Mumbai & Pune. The Company is engaged in the business of civil construction. It provides construction services for port infrastructure residential industrial commercial and road infrastructure projects. They also bid for and undertake projects on a Build Operate Transfer basis and on a Public Private Partnership basis.The company started as a contractor for port infrastructure providing services which included construction of onshore terminals container freight stations operational buildings and workshops and gradually entered into contracting services in the residential and commercial space in the Mumbai market.In May 12 2006 Pathare Real Estate and Developers Ltd became a wholly owned subsidiary of the company and in June 1 2006 Pathare Real Estate and Developers Ltd merged with the company. In September 19 2006 Man Infraproject Ltd became a subsidiary of the company. In November 3 2006 the company changed their name from Man Construction Ltd to Man Infraconstruction Ltd as a reflection of change in the primary business of the company. In November 9 2006 Man Infraproject Ltd became a wholly owned subsidiary of the company and in December 2006 Man Infraproject Ltd merged with the company with effect from December 1 2006. In August 30 2007 the company acquired Man Projects Ltd as a subsidiary company which was engaged in the construction and real estate business.During the year 2007-08 Company acquired 299998 Equity Shares of Rs. 10/- each of Man Projects Limited (MPL) constituting approx. 60% of the Paid up share capital of MPL and consequently MPL became subsidiary of Company.During the year 2009 Company promoted a new Company under the name of 'Man Ajwani Infraconstruction Limited' (MAIL) in joint venture with Ajwani Infrastructure Private Limited (AIPL) for construction of E.W.S Housing Complex for Pimpri Chinchwad Municipal Corporation (PCMC). The said joint venture Company was incorporated on 24th March 2009 with shares of the Company and AIPL to the extent of 64% and 36% respectively.During the year 2008-09 Company acquired 25000 Equity Shares of Rs. 10/- each of Man Projects Limited (MPL) in addition to 299998 equity shares constituting approx. 65% of the paid up share capital of MPL.In October 1 2009 the company incorporated Man Nirmal Infraconstruction Ltd as a subsidiary company pursuant to a memorandum of understanding with Nirmal Lifestyle Realty Pvt Ltd for executing construction projects for Nirmal Lifestyle Realty Pvt Ltd and their affiliates and for bidding government or other projects.The Board of Directors recommended issue of Bonus Shares and the members in their meeting held on 5th October 2009 approved the issue and allotment of Bonus Shares in the ratio of 1 New Equity Share for every 2 existing equity shares held by a member on6th October 2009 (Record date). Accordingly 14624950 Equity Shares were allotted as Bonus shares on 7th October 2009.During the year 2010-11 the Company acquired 4296625 (100%) Equity Shares of Rs 10/- each of Man Realtors and Holdings Private Limited (MRHPL) making it a wholly-owned subsidiary of the Company. Man Realtors and Holdings Private Limited a wholly owned subsidiary of the Company; acquired 1250 Equity Shares (45.45% of the paid-up Equity Share Capital) of Rs 100/- each of Man Chandak Developers Private Limited (MCDPL) on 6th May 2011 and 2250 Equity Shares (70% of the paid-up Equity Share Capital) ofRs 100/- each of Man Chandak Developers Private Limited on 23rd May 2011 and accordingly Man Chandak Developers Private Limited became a a step down subsidiary of the Company.On 1st October 2011 in order to streamline the structure of MCDPL the Company acquired 3500 Equity Shares of MCDPL aggregating toRs 350000 from Man Realtors and Holdings Pvt. Limited. Thus on 1st October 2011 MCDPL became a direct subsidiary of the Company.On 3rd April 2012 MCDPL issued and allotted new equity shares resulting in reduction of shareholding of the Company to 45%. Accordingly MCDPL ceased to be a subsidiary of the Company w.e.f. 3rd April 2012. Manaj Tollway Pvt. Limited was incorporated on 18th November 2011 as a joint venture between Company and Ajwani Infrastructure Pvt. Limited (AIPL) holding 64% and 36% respectively for undertaking four lanning to Hadapsar Saswad Belsar Phata Road S.H. 64 atTaluka Purandar District Pune and such other additional or incidental works on Design-Build-FinanceOperate-Transfer (DBFOT) basis for `Public Works Department' (PWD) Government of Maharashtra. On 17th May 2012 the Company transferred 1% equity to Manaj Infraconstruction Limited; which is also a subsidiary of the Company. On 26th June 2012 Company acquired remaining 13000 (26%) equity shares from Nirmal group making Man Nirmal Infraconstruction Limited (MNIL) a wholly owned subsidiary of the Company. On 1st July 2012 Man Realtors and Holdings Private Limited (MRHPL) got into a Partnership Firm M/s. S. M. Developers engaged in the business of real estate development and became 50% partner along with the then existing partners. On 3rd April 2012 the Company issued and allotted fresh equity shares to existing shareholders as well as new applicants; resulting in reduction in shareholding of Man Infraconstruction Ltd. to 45% consequent upon which MCDPL ceased to be a subsidiary of ManInfraconstruction Ltd. w.e.f. 3rd April 2012. Further Man Infraconstruction Ltd. transferred 10 shares on 1st June 2012 and 2490 shareson 2nd July 2012; resulting in reduction in its shareholding to 35%. On 3rd January 2013 the Company acquired 50000 Equity Shares of Rs 10 each constituting 100% of the total paid-up capital making AM Realtors Private Ltd. a wholly owned subsidiary of the Company. On 2nd December 2013 the name of the Company was changed from Man Nirmal Infraconstruction Limited to Man Aaradhya Infraconstruction Limited. The Company transferred 1000 shares (2%) of Man Aaradhya on 5th June 2014; resulting in reduction in its shareholding to 98% and consequently Man Aaradhya ceased to be a wholly owned subsidiary of the Company.On 1st April 2014 the Company entered into a Limited Liability Partnership namely Manmantra Infracon LLP and became 63% partner along with the then existing partners. Thereafter it acquired further 10% share in Manmantra and became 73% partner on 2nd April 2014. Further consequent upon admission of new partners on 29th April 2014 the Company's share was diluted to 60%. On 30th September 2014 pursuant to Share Purchase and Shareholders Agreement executed with Wadhwagroup Holdings Private Limited the Company diluted its investment in Atmosphere Realty Private Limited (ARPL) from 35% to 17.5% and as a result ARPL ceased to be an Associate and became Joint Venture Company. During the year 2014-15 the Company diluted its stake in Man Projects Limited from 64% to 51%. During the FY 2016-17 the Company transferred 1041927 Equity Shares of MRHPL resulting to reduction in its shareholding to 75.75% and accordingly MRHPL ceased to be a wholly owned subsidiary of the Company and is undertaking a redevelopment project at Naidu Colony Ghatkoper (E) Mumbai.During the financial year 2017-18 the Company transferred 805616 Equity Shares comprising of 18.75% voting rights of MRHPL resulting to reduction in its shareholding to 66%. Man Chandak Realty LLP was incorporated to undertake Real Estate business in 2016-17. In 2018-19 the Company completed the construction of new buildings Aaradhya Residency in Ghatkopar West Mumbai. It acquired 50% stake in Starcrete on April 2 2019.MICL Builders LLP Man Infra Contracts LLP MICL Creators LLP MICL Properties LLP MICL Estates LLP MICL Homes LLP and 3090 McDonald Ave LLC (Step-down Subsidiary) became subsidiaries of the Company during the year 2021-22. The Company completed a residential project namely Aaradhya Signature at Sion (West) Mumbai. In March 2022 it launched all the 7 residential towers and 1 commercial tower Aaradhya Square.During the year 2022 Man Chandak Developers LLP (where Man Infra holds 50%) in association with Shreepati Rise LLP launched apremium Residential project `Insignia' at Vile Parle West Mumbai