Latest news with #MananShah
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.
