Latest news with #MICL
Business Standard
3 days ago
- Business
- Business Standard
Man Infra slides after Q1 PAT drops 28% YoY to Rs 56 cr
Man Infraconstruction declined 3.55% to Rs 156.35 after the company reported a 28.3% fall in consolidated net profit to Rs 55.57 crore on a 46.5% drop in revenue from operations to Rs 182.90 crore in Q1 FY26 over Q1 FY25. Profit before tax stood at Rs 79.95 crore in the June 2025 quarter, registering a decline of 29.4% on a YoY basis. EBITDA (excluding other income) tanked 51.38% to Rs 40.6 crore in Q1 FY26 from Rs 83.5 crore in Q1 FY25. EBITDA margin reduced to 22.2% in Q1 FY26 as against 36.2% in Q1 FY25. Total expenses fell 44.02% to Rs 147.75 crore during the quarter from Rs 263.91 crore in Q1 FY25. Construction materials and equipment costs stood at Rs 57.40 crore (up 2.19% YoY), while employee benefits expenses were Rs 18.08 crore (down 7.9% YoY) during the period under review. On the segmental front, real estate revenue was Rs 81.44 crore (down 64.05% YoY) and EPC revenue was Rs 102.24 crore (down 11.49% YoY). Collections remained steady at Rs 234 crore, supported by timely execution of ongoing projects. Manan Shah, managing director of Man Infraconstruction, said, "With sales momentum continuing in Q1FY26 supported by steady collections and timely execution, MICL continues to build on its operational performance. Our strengthened liquidity position of around Rs 800 crore positions us well to capitalize on strategic opportunities, particularly in acquiring premium projects across Mumbai's sought-after micro-markets. This aligns well with our vision to expand our portfolio while maintaining a strong balance sheet and delivering long-term value to our stakeholders." Man Infraconstruction has two business verticals, viz., EPC (engineering, procurement, and construction) and real estate development. ManInfra has five decades of experience in the EPC business and strong execution capabilities in ports, residential, commercial & industrial, and road construction segments with projects spanning across India. As a real estate developer, ManInfra Group has delivered multiple residential projects in Mumbai and is recognized for its superior quality construction and timely project delivery.
Yahoo
25-06-2025
- Automotive
- Yahoo
AM Best Affirms Credit Ratings of Motors Insurance Company Limited
LONDON, June 25, 2025--(BUSINESS WIRE)--AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of "a-" (Excellent) of Motors Insurance Company Limited (MICL) (United Kingdom). The outlook of these Credit Ratings (ratings) is stable. MICL is a wholly owned subsidiary of AmTrust International Insurance, Ltd., which is a member of the AmTrust Group. The ratings reflect MICL's balance sheet strength, which AM Best assesses as very strong, as well as its strong operating performance, limited business profile and appropriate enterprise risk management. MICL's balance sheet strength is underpinned by risk-adjusted capitalisation comfortably at the strongest level, as measured by Best's Capital Adequacy Ratio (BCAR), and is supported by prudent reserving practices and a low-risk investment portfolio. Over the medium term, AM Best expects the buffers in risk-adjusted capitalisation, in excess of the strongest threshold, to reduce moderately as the company upstreams excess capital through dividend payments to the AmTrust Group. MICL's moderate dependence on reinsurance and concentration to one reinsurance counterparty is partially mitigated by that counterparty's excellent credit quality. MICL has a track record of strong operating performance, with a five-year (2020-2024) weighted average return-on-equity ratio of 10.6%. The company's earnings are underpinned by solid underwriting profits over the cycle, demonstrated by a five-year weighted average combined ratio of 91.2%, as calculated by AM Best, which was driven by prudent pricing and profit-sharing arrangements. In addition, the company's overall earnings are supported by modest investment returns from its conservative asset allocation. MICL provides auto warranty and auto add-on policies, primarily distributed by retail intermediaries. The company has a well-established competitive position in the auto warranty market in the United Kingdom, which generates the majority of its revenue. AM Best expects MICL's market profile to remain relatively stable. This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments. AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit Copyright © 2025 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED. View source version on Contacts Naz Botea, ACA Financial Analyst +44 20 7397 0313 Kanika Thukral Associate Director, Analytics +44 20 7397 0327 Christopher Sharkey Associate Director, Public Relations +1 908 882 2310 Al Slavin Senior Public Relations Specialist +1 908 882 2318
Mint
20-05-2025
- Business
- Mint
Man Infraconstruction Q4 results: Net profit rises 50% to ₹97.15 crore, announces ₹0.45 interim dividend
Man Infraconstruction, on Tuesday, announced its financial results for the quarter ended on March 31, 2025. The construction company posted 50 per cent year-on-year (YoY) jump in net profit to ₹ 97.15 crore in the fourth quarter FY25 as compared to ₹ 64.65 crore same period a year ago. Revenue from operation rose marginally to ₹ 294 crore in March quarter 2025. However, sequentially revenue saw a significant rise by 21 per cent from ₹ 242 crore. The construction company further declared its first interim dividend of ₹ 0.45 per share. 'Declared First Interim Dividend of Rs. 0.45 per equity share (i.e. 22.5%) on 37,52,89,565 Equity Shares having Face Value of Rs. 2/- each, for the Financial Year 2025-26,' the company said in an exchange filing. The company achieved total sales of ₹ 2,251 crore in FY25, marking a threefold jump compared to FY24 sales of ₹ 744 crore. Q4 FY25 alone contributed ₹ 743 crore, reflecting a 90 per cent year-on-year growth, it said. Collections increased to ₹ 1,270 crores for FY25, up from ₹ 1,197 crores in FY24 driven by the delivery of multiple projects during the year and strong execution capabilities across ongoing developments. 'FY25 was a record-breaking year for MICL, achieving ₹ 2,250 crore in sales reflecting market's strong trust in our projects. Backed by a strong pipeline of upcoming launches, EPC projects and global expansion, we are well positioned for sustained growth and committed to deliver excellence and value to our stakeholders,' said Manan Shah, Managing Director of Man Infraconstruction Limited. MICL Group launched 2 new projects in Q4FY25, with a combined revenue potential of ₹ 1,600 crore. These projects have already generated around ₹ 700 crore in sales within a short span since their launch. The company plans to launch multiple new projects of around 7.4 lakh sq. ft. of carpet area in FY26, with an estimated sales potential of ₹ 3,400 crores. 'These upcoming launches are located in some of Mumbai's most sought-after micro markets - Marine Lines, BKC and Pali Hill (Bandra W) which are expected to drive sales visibility and further enhance MICL's market's presence,' the company said.
Hindustan Times
05-05-2025
- Entertainment
- Hindustan Times
Aamir Khan's housing society will have luxury apartments priced above ₹1 lakh per sq ft post redevelopment
Man Infraconstruction Limited (MICL), a listed real estate developer, plans to launch an ultra-luxury project with luxury apartments priced at above ₹1 lakh per sq ft in Mumbai's upscale Pali Hill locality of Bandra by December 2025. The luxury project will be developed as part of the redevelopment of the Virgo Cooperative Housing Society, where Bollywood actor Aamir Khan owns multiple apartments. Aamir Khan, who is in the news for his poster of Sitaare Zameen Par, a spiritual sequel to his critically acclaimed Taare Zameen Par (2007), owns approximately 12 apartments in his building, which is expected to undergo redevelopment by the end of 2025. Aamir Khan will receive a new set of units as the building undergoes redevelopment. The project will be developed as part of the redevelopment of the Virgo Cooperative Housing Society. Also Read: Sitaare Zameen Par poster: Aamir Khan teases story about special people and fans are 'ready to sob'; film out next month The housing society is being redeveloped by Atmosphere Realty- a joint venture between three real estate companies – Wadhwa Group, MICL and Chandak Group. Also Read: Aamir Khan's housing society redevelopment: MICL plans to launch a luxury project in Mumbai's Pali Hill by December 2025 In December 2023, the MICL announced it would undertake the project redevelopment through one of its associate entities, which holds a 34% stake. "The project is currently under the approval stage, and we, along with our partners, are working on the documentation with the society. The target now is to launch the project in December 2025, Manan Shah, Managing Director of MICL, told in April 2025. According to Manan Shah, Managing Director of MICL, the luxury apartments in their Pali Hill redevelopment project (which includes the redevelopment of Aamir Khan's housing complex) are expected to be priced above ₹1 lakh per sq ft. Also Read: Mumbai real estate: 5 Bollywood stars who have invested nearly ₹80 crore in properties in Bandra According to Manan Shah, while overall sales have been strong for their company, there is noticeable sluggishness in the ultra-luxury segment of Mumbai's real estate market. 'Sales have been very good for us overall. However, there is some slowdown in the segment priced above ₹1 lakh per sq ft. Any product priced at ₹30 crore or more is witnessing slower movement,' Shah said.
India.com
24-04-2025
- Entertainment
- India.com
After Shah Rukh Khan, Aamir Khan also set to vacate his Bandra home due to...
Recently, the news of Bollywood's King Khan aka Shah Rukh Khan vacating his extravagant home Mannat due to renovation grabbed attention. Now, another Khan has added his name to the list. While many may think it is Salman Khan due to the constant death threats he has received, it is not even Salman Khan — it is Aamir Khan. According to media reports, Aamir is soon going to vacate his Bandra house. As soon as the news broke, Aamir's fans were left shocked and worried. However, let us tell you that the actor is shifting homes because of renovation work. The real estate developer Man Infraconstruction Limited (MICL) is launching an ultra-luxury project in Pali Hill this year. This project is part of the renovation of Virgo Cooperative Housing Society. This is the same society where Aamir Khan lives. As per the details shared by Manan Shah, the Managing Director of MICL Group, the real estate group will build luxurious 4BHK and 5BHK flats with a sea view. As per details shared by Hindustan Times, the flat measures 1,027 sq ft and costs over ₹9 crore. The transfer deed was finalized in June 2024, with a stamp duty of Rs 58.5 lakh and a registration fee of Rs 30,000, as per property registration documents obtained by Square Yards. 'The project is currently under the approval stage, and we, along with our partners, are working on the documentation with the society. The target now is to launch the project in December 2025,' Manan was quoted as saying by HT. Khan's complex is expected to be priced above Rs 1 lakh per sq ft.
