Man Industries (India) Limited — Important, 01-04-2025: General Updates

Merino Shelters Private Limited, a wholly-owned subsidiary of Man Industries (India) Limited, has entered into a Deed of Assignment with Paradise Green – Spaces LLP for approximately 6 acres of land in Navi Mumbai. The upfront payment of ₹70 Crores will be received, and the company is expected to obtain 30% of the developed property, corresponding to around 4.5 lakh sq. ft., with a projected monetising value of ₹650-₹700 Crores over the next 5-6 years, totaling approximately ₹720-₹770 Crores. This strategic partnership could enhance Man Industries’ long-term financial outlook, potentially attracting positive investor sentiment amid growing real estate developments.