Man Infraconstruction Limited — Updates, 15-11-2024: Press Release

Man Infraconstruction Limited (MICL Group) is strategically realigning its real estate portfolio to focus exclusively on luxury projects in prime Mumbai locations. The company has divested from the third phase of a project in Mira Road to concentrate on developments in areas like Pali Hill, BKC, Vile Parle, and Marine Lines. Their subsidiary, Man Vastucon LLP, has successfully delivered the sold-out first phase of ‘Aaradhya Highpark’, constituting 6.5 lakh square feet of carpet area, while the second phase, ‘Aaradhya Parkwood’, covering 5.3 lakh square feet, is currently under development with strong sales.

This divestment is anticipated to improve cash flow and profitability, reinforcing MICL's commitment to high-quality luxury real estate. The company aims to meet the evolving demands of Mumbai's premium market, indicating a positive outlook for future growth.