MICL Group receives IOD approval for luxury residential project at Ghatkopar East, Mumbai

MICL Group has received an Intimation of Disapproval (IOD) approval for its Luxurious Residential Project of 10 societies located at Ghatkopar East, Mumbai having carpet area of approx. 4 lakh sq. ft. for sale.

Mumbai, September 27, 2023: Commenting on this development, Mr. Manan P. Shah, Managing Director said, "We proudly announce the receipt of an IOD approval and necessary approvals from concerned authorities for its 12,000+ square meter gated community Luxurious Residential Project of 10 societies located at Ratilal B. Mehta Road (60 Feet Road), Ghatkopar (East), Mumbai. The project is in the stage of receiving other approvals in due course of time. MICL Group is excited and gearing up to launch the project likely in the fourth quarter of the financial year 2023-24. The company is expected to generate revenue of Rs. 1,200 crore in next 4 years from this project."

Shares of Man Infraconstruction Limited was last trading in BSE at Rs. 158.75 as compared to the previous close of Rs. 154.30. The total number of shares traded during the day was 534601 in over 6165 trades.

The stock hit an intraday high of Rs. 163.75 and intraday low of 151.50. The net turnover during the day was Rs. 84603483.00.

Source : Equity Bulls

Keywords

ManInfraconstruction INE949H01023 IODApproval LuxuryResidentialProject GhatkoparEast Mumbai