MICL associate co to undertake 10-acre redevelopment project in Mumbai’s Goregaon

Man Infraconstruction’s (MICL) associate company Royal Netra Constructions has entered into an agreement to undertake one of the largest redevelopments with a total 1.7 million sq ft carpet area for sale in Mumbai’s western suburb Goregaon.

MICL Group that holds 33.32% stake in Royal Netra Constructions expects the project spread over 10 acres to generate revenue worth around Rs 4,000 crore over the next five years, the company said in a regulatory filing.

“The latest addition of the project will expand MICL Group’s real estate portfolio from 4.6 million sq ft to 6.3 million sq ft of carpet area. The project having total construction area of over 50 lakh sq ft is likely to be undertaken by Man Infraconstruction and is expected to be completed within 5 to 6 years,” said Manan P. Shah, MD, Man Infraconstruction.


According to him, this project acquisition is aligned with the company’s asset-light strategy and will help strengthen the financial position.

For the financial year 2022-23, Man Infraconstruction reported consolidated net profit of Rs 258.57 crores on the back of revenue worth Rs 1,890.35 crores.