Man Industries (India) Limited — Updates, 01-04-2025: Press Release

Merino Shelters Private Limited, a wholly owned subsidiary of Man Industries (India) Limited, has successfully monetized a prime land parcel in Navi Mumbai valued at approximately ₹720 Crore through a partnership with Paradise Green – Spaces LLP. The transaction involves a Deed of Assignment granting development rights for a 6-acre site located near D.Y. Patil Stadium, known for excellent connectivity and proximity to the upcoming Navi Mumbai International Airport. The deal is structured to generate an upfront payment of ₹70 Crore, with the company set to receive around 30% of the developed area, translating to an estimated monetizing value of ₹650 – ₹700 Crore over the next 5-6 years. This strategic move is aligned with Man Industries' initiative to focus on its core line pipe business and is expected to unlock substantial shareholder value, indicating a positive outlook for future growth.