Man Infraconstruction Ltd: Strengthening Real Estate Development in the US with a Rs 503 Crore EPC Order Book
Man Infraconstruction Ltd, a leading EPC and real estate developer, has bolstered its position in the US market with a significant acquisition and a robust order book of Rs 503 crore. The company aims to expand its real estate portfolio and maintain a net cash-positive position.
Real Estate DevelopmentEpcMan Infraconstruction LtdUs MarketStrong Financial PerformanceReal EstateMay 28, 2025
This acquisition, effective May 27, 2025, involves the acquisition of an additional 25% of the membership interest in MICL Tigertail LLC for a cash consideration of US$1 million. MICL Tigertail LLC operates in the Real Estate Development industry and was incorporated in June 2024 in Miami, Florida, USA, with the primary objective of engaging in real estate development and other lawful activities. Although the company is currently in the initial stages of business operations with a NIL turnover, this strategic move is aimed at furthering Man Infraconstruction's objectives in the real estate sector.
The transaction is not classified as a related party transaction, despite MICL Tigertail LLC being an associate of a wholly-owned subsidiary. Mr. Vatsal Shah, from the Promoter Group, has been appointed as a Manager of MICL Tigertail LLC, but the Promoter and Promoter Group have no other interest in the entity. The acquisition details comply with the requirements of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.
Man Infraconstruction Ltd has a rich 50-year history in EPC and has demonstrated strong execution capabilities in the ports, residential, commercial, industrial, and road sectors across India. The company is particularly noted for its expertise in Mumbai's real estate market, where it has successfully delivered high-quality residential projects on time. Its construction management expertise and resources make it a capable real estate developer.
In its Q4FY25 results, Man Infraconstruction reported a total income of Rs 379.8 crore, a 19.2% increase from the previous quarter, and a net profit of Rs 97.2 crore, up by 16% from Q3FY25. For the full FY25, the company's total income stood at Rs 1,231.3 crore, and the net profit was Rs 312.8 crore. Man Infraconstruction Limited (MICL) showcased robust operational performance in FY25, with total sales of Rs 2,251 crore, a threefold increase from Rs 744 crore in FY24. Q4 FY25 alone contributed Rs 743 crore, marking a 90% year-on-year growth. The carpet area sold more than doubled to approximately 8 lakh sq. ft. in FY25 from around 3 lakh sq. ft. in FY24, and collections improved to Rs 1,270 crore for FY25, up from Rs 1,197 crore in FY24.
MICL launched two new projects in Q4 FY25 with a combined revenue potential of approximately Rs 1,600 crore, generating around Rs 700 crore in sales shortly after launch. The company plans to launch new projects totaling about 7.4 lakh sq. ft. of carpet area in FY26, with an estimated sales potential of Rs 3,400 crore. These projects are located in prime Mumbai micro-markets. MICL maintains a strong, net-debt-free balance sheet with consolidated cash and equivalents of Rs 570 crore as of March 2025, and has a total investment of Rs 1,166 crore in its Real Estate Projects as of March 2025.
Man Infraconstruction Ltd has announced a strong order book of Rs 503 crore as of March 2025. The company has a market cap of over Rs 6,000 crore and has delivered good profit growth of 48.3% CAGR over the last 5 years, maintaining a net cash-positive position. The company's shares have an ROE of 23% and an ROCE of 28%. This robust financial performance and strategic expansion into the US market position Man Infraconstruction Ltd as a leading player in the real estate and EPC sectors.
The company's strategic moves and financial resilience highlight its commitment to sustainable growth and value creation for its stakeholders. With a strong order book and a clear focus on expanding its real estate portfolio, Man Infraconstruction Ltd is well-positioned to continue its upward trajectory in both the Indian and US markets.
Frequently Asked Questions
What is MICL Tigertail LLC and what is its purpose?
MICL Tigertail LLC is an associate of MICL Global, Inc., a wholly-owned subsidiary of Man Infraconstruction Ltd. It operates in the Real Estate Development industry and was incorporated in June 2024 in Miami, Florida, USA, to engage in real estate development and other lawful activities.
How much did Man Infraconstruction Ltd increase its stake in MICL Tigertail LLC and for what consideration?
Man Infraconstruction Ltd increased its stake in MICL Tigertail LLC by acquiring an additional 25% of the membership interest for a cash consideration of US$1 million, effective May 27, 2025.
What are the key financial highlights of Man Infraconstruction Ltd for FY25?
For FY25, Man Infraconstruction Ltd reported a total income of Rs 1,231.3 crore and a net profit of Rs 312.8 crore. The company's total sales were Rs 2,251 crore, a threefold increase from Rs 744 crore in FY24, with Q4 FY25 alone contributing Rs 743 crore, marking a 90% year-on-year growth.
What new projects did Man Infraconstruction Ltd launch in Q4 FY25?
In Q4 FY25, Man Infraconstruction Ltd launched two new projects with a combined revenue potential of approximately Rs 1,600 crore, generating around Rs 700 crore in sales shortly after launch.
What is the current financial position of Man Infraconstruction Ltd?
Man Infraconstruction Ltd maintains a strong, net-debt-free balance sheet with consolidated cash and equivalents of Rs 570 crore as of March 2025, and has a total investment of Rs 1,166 crore in its Real Estate Projects as of March 2025. The company has a market cap of over Rs 6,000 crore and has delivered good profit growth of 48.3% CAGR over the last 5 years.
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