MICL secures commencement certificate for its residential project in Mumbai
Man Infraconstruction Limited is expected to generate revenue of Rs 1,200 crore in the next four years from this project.
Man Infraconstruction Limited (MICL), an integrated EPC (engineering, procurement & construction) company, has secured a Commencement Certificate (CC) for its residential project in Mumbai. The project will have a carpet area of approximately 4 lakh square feet for sale.
"MICL Group Secures Commencement Certificate (CC) for its Uber Luxurious Residential Project in Ghatkopar East, Mumbai introducing Innovative Community Living Concept, having carpet area of approx. 4 lakh sq. ft. for sale," the company said.
Commenting on the development, Manan P Shah, Managing Director, MICL Group said that the company is expected to generate revenue of Rs 1,200 crore in the next four years from this project.
“We are happy to announce the receipt of Commencement Certificate (CC) from concerned authorities for our 12,000+ square meter gated community, Uber-Luxurious Residential Project of 10 societies located at Ratilal B. Mehta Road (60 Feet Road), Ghatkopar (East), Mumbai. MICL Group is excited and gearing up to launch the project likely in the fourth quarter of the financial year 2023-24," Shah said.
Man Infraconstruction Limited, headquartered in Mumbai, clocked annual consolidated revenue of Rs 1,890.35 crores and net profit of Rs 258.57 crores with a net cash positive balance sheet for the financial year ended March 31, 2023.
Meanwhile, the board of directors of the company has approved raising up to Rs 550.23 crore via the issue of the warrant on a preferential basis.
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09:50 PM IST