MICL Group to develop Luxurious Residential Project at Ghatkopar East, Mumbai

MICL Creators LLP, a subsidiary of Man Infraconstruction Limited ('the Company'); wherein the Company holds 60% partnership interest, has acquired development rights from 10 (Ten) adjoining Societies; all located at Ratilal B. Mehta Road (60 Feet Road), Ghatkopar (East), Mumbai, Maharashtra.

Commenting on this development, Mr. Manan P. Shah, Managing Director said, "We proudly announce this latest addition to our portfolio - an extraordinary grandiose development that epitomizes elegance and exclusivity. This landmark cluster redevelopment under Regulation 33(9) of the new development regulations encompasses a saleable carpet area of "' 4 lakh sq. ft. which will set new standards in opulent living. The total construction area of "' 13 lakh sq. ft. to be undertaken by Man Infraconstruction Limited is expected to complete within 3.5 to 4 years; showcasing our commitment to timely excellence. This development will reflect a realm of community living and green living. Our unwavering commitment to craftsmanship and attention to detail will establish this development as an icon of grandeur and sophistication. This acquisition aligns with our asset-light strategy, strengthening our financial position. With our expertise in construction and development, we are excited to create an iconic masterpiece that will stand the test of time."

Shares of Man Infraconstruction Limited was last trading in BSE at Rs. 99.88 as compared to the previous close of Rs. 94.37. The total number of shares traded during the day was 292498 in over 2796 trades.

The stock hit an intraday high of Rs. 100.25 and intraday low of 94.85. The net turnover during the day was Rs. 28935579.00.

Source : Equity Bulls

Keywords

ManInfraconstruction INE949H01023 MICLCreatorsLLP DevelopmentRights GhatkoparEast Mumbai