Man Infraconstruction Acquires Ultra-Luxury Sea-View Project in Bandra West With ₹1,000+ Cr GDV

Man Infraconstruction Limited (MICL Group) has announced the acquisition of an ultra-luxury sea-view residential development located off Bandstand, Bandra West, Mumbai. Disclosed under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the project carries an estimated Gross Development Value (GDV) of ₹1,000+ crores and will be positioned as 'The One & Only' within the company's MS Collection Residences vertical — a boutique sea-view residential offering catering to the premium luxury segment. Strengthening the Bandra Portfolio This marks MICL Group's third luxury residential acquisition in the Bandra micro-market. With this addition, the company's combined Bandra portfolio — comprising the recently launched Artek Park at BKC, the upcoming ultra-luxury project at Pali Hill, Bandra West, and the latest acquisition — represents a combined GDV of ₹2,350+ crores. MICL Group will hold approximately 70% stake in the newly acquired off-Bandstand, Bandra West project. The key details of the acquisition are summarised below: Parameter: Details Project Location: Off Bandstand, Bandra West, Mumbai Project Type: Ultra-Luxury Sea-View Residential Estimated GDV: ₹1,000+ crores Ownership Stake: ~70% Plot Area: Over 30,000 sq. ft. Branding: MS Collection Residences – 'The One & Only' Total Bandra Portfolio GDV: ₹2,350+ crores Project Status and Approvals Spread across a plot area of over 30,000 sq. ft., the project has applied for its IOD (Intimation of Disapproval) and is currently progressing through the approval process ahead of launch. Bandra continues to be one of Mumbai's most aspirational and supply-constrained residential destinations, supported by sustained end-user demand and strong pricing resilience. Expanded Overall Portfolio and Launch Pipeline With this acquisition, MICL Group's total real estate portfolio now stands at an estimated GDV of over ₹18,575+ crores. The company's launch pipeline for FY27 has expanded to nearly ₹6,600+ crores, which it describes as the largest launch pipeline in the company's history. Metric: Value Total Real Estate Portfolio GDV: ₹18,575+ crores FY27 Launch Pipeline: ₹6,600+ crores Management Commentary Commenting on the development, Manan Shah stated: "MICL Group has further strengthened its presence in Bandra with its third luxury residential acquisition in the micro-market. With this acquisition, our Bandra portfolio — comprising the recently launched Artek Park at BKC, the upcoming ultra-luxury project at Pali Hill, Bandra West, and our latest acquisition — together represents a combined Gross Development Value (GDV) of ₹2,350+ crores, reflecting our focused strategy of deepening our presence in premium micro-markets with sustained absorption. With this addition, MICL Group's total real estate portfolio now stands at an estimated GDV of over ₹18,575+ crores, while the launch pipeline for FY27 has expanded to nearly ₹6,600+ crores — the largest launch pipeline in the Company's history." Man Infraconstruction Limited's Board of Directors approved the audited financial results for the quarter and year ended March 31, 2026, at their meeting held on May 13, 2026. The board declared an interim dividend of ₹0.72 per equity share for the financial year 2026-27, with a record date of May 19, 2026 and payment date of June 05, 2026. The company reported a consolidated Profit After Tax (PAT) after Non-Controlling Interest of ₹200.6 Cr for FY26, compared to ₹282.7 Cr in the previous year. Revenue from operations stood at ₹630.5 Cr, while EBITDA was ₹128.9 Cr with a margin of 20.40%. Other income for the year included interest income of ₹101.64 Cr on a consolidated basis. The audited results were reviewed by the Audit Committee and approved by the Board of Directors, with statutory auditors M/s G. M. Kapadia & Co. issuing an unmodified audit opinion. Consolidated Financial Performance The company's financial performance for the year reflected a decline in revenue but maintained healthy margins. Total income for FY26 was ₹792.0 Cr. The PAT margin improved to 25.30% from 23.00% in FY25. On a standalone basis, total income was ₹437.8 Cr, and PAT stood at ₹154.8 Cr. The standalone balance sheet remains robust with zero borrowings and cash and equivalents of ₹593 Cr. The standalone other income includes interest income of ₹89.32 Cr for the year. The Q4 FY26 results also reflected a year-on-year decline, with net profit at ₹42.8 Cr against ₹76.9 Cr in Q4 FY25, and revenue at ₹145.5 Cr compared to ₹290 Cr in the prior-year quarter. EBITDA for Q4 FY26 stood at ₹18.9 Cr versus ₹106 Cr in Q4 FY25, with the EBITDA margin contracting to 13.01% from 36.24% year-on-year. Metric Q4 FY26 Q4 FY25 FY26 FY25 Revenue from Operations (₹ Cr) 145.5 290 630.5 1,108.1 Other Income (₹ Cr) 41.4 — 161.6 123.2 Total Income (₹ Cr) 186.9 — 792.0 1,231.2 EBITDA excl. Other Income (₹ Cr) 18.9 106 128.9 324.2 EBITDA Margin (%) 13.01% 36.24% 20.40% 29.30% PAT after Non-Controlling Interest (₹ Cr) 42.8 76.9 200.6 282.7 PAT Margin (%) 22.90% — 25.30% 23.00% Segment Performance The company operates across two primary segments — EPC (Engineering, Procurement and Contracting) and Real Estate. For FY26, the EPC segment reported revenue of ₹30,378.75 lakhs and segment results of ₹7,989.66 lakhs, compared to ₹41,338.66 lakhs and ₹10,629.60 lakhs respectively in FY25. The Real Estate segment recorded revenue of ₹32,939.04 lakhs and segment results of ₹16,303.82 lakhs for FY26, against ₹69,846.88 lakhs and ₹28,200.60 lakhs in FY25. Basic and diluted EPS for FY26 stood at ₹5.07 on a consolidated basis, compared to ₹7.59 in FY25. On a standalone basis, basic and diluted EPS for FY26 stood at ₹3.91, compared to ₹4.21 in FY25. Segment FY26 Revenue (₹ Lakhs) FY25 Revenue (₹ Lakhs) FY26 Results (₹ Lakhs) FY25 Results (₹ Lakhs) EPC 30,378.75 41,338.66 7,989.66 10,629.60 Real Estate 32,939.04 69,846.88 16,303.82 28,200.60 Real Estate Portfolio and Vision 2031 Man Infraconstruction has outlined an ambitious growth strategy targeting a Gross Development Value (GDV) of ₹35,000+ Cr by 2031, more than double its current estimated portfolio GDV of ₹17,575+ Cr. The combined real estate portfolio spans 51.7 lakh sq. ft. of carpet area. The ongoing portfolio covers 24.5 lakh sq. ft. with an estimated GDV of ₹7,975+ Cr, of which 56% has been sold. The upcoming project pipeline carries an estimated GDV of ₹9,600+ Cr across 27.2 lakh sq. ft. of carpet area. Three South Mumbai projects represent a combined GDV of ₹8,000+ Cr. Portfolio Category Carpet Area Estimated GDV Ongoing Projects 24.5 Lakh sq. ft. ₹7,975+ Cr Upcoming Projects 27.2 Lakh sq. ft. ₹9,600+ Cr Combined Portfolio 51.7 Lakh sq. ft. ₹17,575+ Cr Vision 2031 Target GDV — ₹35,000+ Cr Management Guidance and FY27 Outlook In its post-results concall, management shared key strategic guidance across sales, launches, and revenue recognition. The company has set a combined sales target of over INR5,000 crores for FY27 and FY28, with FY27 alone targeting no less than INR2,500 crore. Management aims for the best-ever real estate sales in FY27, supported by the largest-ever launch pipeline of approximately INR5,600 crores GDV. For FY27, the company expects 35% to 40% growth in revenue recognition compared to the previous year, driven by 1 million square feet of project launches and key projects nearing completion. Management also anticipates higher margins from ultra-luxury projects and expressed confidence in surpassing FY25's overall performance. The company's policy is not to consider price appreciation in project feasibility studies, focusing instead on maintaining a healthy bottom line through absorption of inventory. Guidance Parameter Details FY27 Sales Target INR2,500 Cr (minimum) FY27 + FY28 Combined Sales Target INR5,000+ Cr FY27 Launch Pipeline (GDV) ~INR5,600 Cr FY27 Revenue Recognition Growth 35%–40% YoY FY27 Launch Area 1 million sq. ft. Vision 2031 GDV Target ₹35,000+ Cr EPC Order Book and Global Expansion The EPC order book as on March 31, 2026 stood at ₹392 Cr, diversified across infrastructure and owned residential projects. Infrastructure projects include the BMCT project at Nhava Sheva and the Trident Agro PMC contract. Residential PMC contracts cover projects in Tardeo, Vile Parle, and Mulund. On the global front, MICL Global is developing luxury residential projects in Florida, USA, with a portfolio valued at $1.4B. EPC & Global Metrics Details EPC Order Book (as on Mar-26) ₹392 Cr Infrastructure Under Execution 100 Hectares (Nhava Sheva) MICL Global Portfolio $1.4B (Florida, USA) Balance Sheet and Cash Flow The consolidated balance sheet as at March 31, 2026 reflects a strong financial position with total equity of ₹2,313 Cr and total borrowings of ₹58 Cr, resulting in a debt-to-equity ratio of 0.025x. The company is net cash positive with a net debt-to-equity ratio of -0.27x. Cash and cash equivalents stood at ₹686 Cr on a consolidated basis. On a standalone basis, the company maintained zero borrowings with cash and equivalents of ₹593 Cr. The consolidated cash flow statement shows net cash used in operating activities of ₹4,969.57 lakhs for FY26, while net cash from financing activities was ₹30,585.59 lakhs, primarily driven by proceeds from the issue of equity shares on conversion of warrants amounting to ₹32,988.19 lakhs. The standalone net cash from operating activities stood at ₹4,679.50 lakhs for FY26. The company holds a CARE credit rating of A+ (Long Term) and A1 (Short Term), both with a Stable Outlook. Balance Sheet Metric FY26 FY25 Total Equity — Consolidated (₹ Lakhs) 2,31,301.56 1,84,399.59 Total Assets — Consolidated (₹ Lakhs) 2,77,794.26 2,17,744.04 Total Equity — Standalone (₹ Lakhs) 2,10,065.15 1,65,642.43 Total Assets — Standalone (₹ Lakhs) 2,22,019.80 1,76,912.00 Debt-to-Equity Ratio 0.025x — Net Debt-to-Equity Ratio -0.27x — We’re building Scanx - to help you express your trading & investing idea, to help you analyse the markets better. Stock Markets are the true indicator of the growth of any country's economy. We are bullish on India, we are bullish on India's prospects to be one of largest economies of the world. We believe that Stock Markets provide an unique opportunity for all Indians to participate in the growth story of India. We are enabling the same for Indians. As financial services are becoming more accessible, there is now a large set of Indians today who are financially aware and literate. They value time and seek high quality products & services. Most screening, trading, investing platforms available today are more or less similar to each other, and they have not evolved with time. While both traders & investors have gotten smart about how they make money and build wealth, as users they have continued to use the same products, features, and platforms that were available for years with little or no innovation. We plan to change that - a technology-led and artificial intelligence enabled platform built for super traders and long term investors. Disclaimer: The data and information provided on this website is for general informational and research purposes only. While we strive to ensure that the content is accurate, up-to-date, and reliable, this platform utilizes artificial intelligence (AI) tools to generate, curate, and summarize information. As such, the content may occasionally contain errors, omissions, or outdated information. All users are therefore advised to cross verify the source of the data and information. This website does not constitute professional, legal, financial, medical, or any other form of licensed advice. Users are encouraged to independently verify any information before relying on it, especially for decisions that may have legal, financial, or personal consequences. The views, analyses, and summaries presented on this platform may be generated or assisted by AI and do not necessarily reflect the opinions of the website owners, operators, editors, or affiliates. We make no warranties or representations, express or implied, regarding the completeness, accuracy, reliability, suitability, or availability of the information contained on this website. Any reliance you place on such information is strictly at your own risk. This website may include links to third-party sources or content. We do not control or endorse the nature, accuracy, or availability of those external sites and are not responsible for any content or damages arising from their use. By using this website, you acknowledge and agree that the use of AI-generated content involves inherent limitations, uncertainties and inaccuracies, and you accept full responsibility for how you interpret and use the information provided. We reserve the right to modify, update, or remove content and this disclaimer at any time without prior notice.