Atmosphere Realty Pvt Ltd receives IOD for its first boutique commercial development - O2 Highstreet

Man Infraconstruction Limited (MICL Group) has received the Intimation of Disapproval (IOD) for its Atmosphere Commercial Project at Nahur, Mulund West, marking the final phase of the integrated Atmosphere development initiated in 2014. Over the past decade, MICL Group has developed a strong ecosystem in the micro-market through Atmosphere and Atmosphere O2, delivering approximately 1500+ residences with nearly carpet area of 11 lakh sq. ft., and ~100% sold out.

The commercial project Gateway further strengthened the portfolio with approximately 1.37 lakh sq. ft. of development which is also fully sold out, collectively contributing to the transformation of corridor into a live-work destination.

Commenting on the development, Mr. Manan Shah, Managing Director, Man Infraconstruction Limited (MICL Group), said: "The receipt of IOD for Atmosphere Commercial marks a significant milestone as it completes the broader Atmosphere vision. With improving connectivity through key infrastructure upgrades, we see continued demand for quality commercial spaces. The project has an estimated 7200 sq. ft of carpet area for sale."

MICL Group holds a 30% equity stake in the project.

Shares of Man Infraconstruction Limited was last trading in BSE at Rs. 106.30 as compared to the previous close of Rs. 108.30. The total number of shares traded during the day was 12902 in over 176 trades.

The stock hit an intraday high of Rs. 109.30 and intraday low of 105.90. The net turnover during the day was Rs. 1390754.00.

Source : Equity Bulls

Keywords

ManInfraconstruction INE949H01023 MICLGroup IOD BoutiqueCommercialDevelopment O2Highstreet