MICL Group Completes 19th Real Estate Project, Aaradhya Evoq, Ahead of Schedule
Aaradhya Evoq marks the completion of MICL Group's 19th real estate project, all of which have been delivered ahead of schedule. The company has a strong track record of timely execution and high standards.
Micl GroupReal EstateLuxury ResidentialAaradhya EvoqMumbaiJuhuMan Infraconstruction LtdReal EstateSep 17, 2024
To date, MICL Group has successfully delivered 2.6 million square feet of carpet area, a testament to the group's expertise and commitment to delivering projects on time.
Aaradhya Evoq, the luxury residential project located in the prestigious neighbourhood of Juhu, Mumbai was completed in an impressive time frame of less than 2.5 years from its launch, further cementing MICL Group's commitment to timely project execution and customer satisfaction. With a total carpet area of around 60,000 square feet available for sale and a revenue potential of about Rs. 250 crores, the project has already sold out nearly 85 per cent of its residences and made a total collection of over Rs 165 crore.
This success reflects the trust and credibility that MICL Group has built in the market. Situated in Juhu, one of Mumbai’s most coveted neighbourhoods, the Aaradhya Evoq project is a stand-alone residential tower, offering a haven of opulence with a delightful view and an aesthetically striking façade. The development features an array of 21+ top-tier amenities spread across approximately 10,000 square feet, catering to the diverse needs of urban luxury living.
The project offers lavish 3 and 4 BHK residences, making it an ideal destination for discerning homebuyers seeking comfort, exclusivity, and world-class living standards in the heart of Juhu.
About Man Infraconstruction Ltd
Man Infraconstruction Ltd, a Mumbai-based company listed on both NSE (MANINFRA) and BSE (533169), specializes in EPC (Engineering, Procurement, and Construction) and Real Estate Development. With a 50-year EPC history and strong execution in ports, residential, commercial, industrial, and road sectors across India, ManInfra also excels in Mumbai's real estate market, delivering high-quality residential projects on time.
The company has a market cap of over Rs 7,000 crore and has delivered good profit growth of 48.3 per cent CAGR over the last 5 years. The company's shares have an ROE of 25 per cent and an ROCE of 30 per cent.
MICL Delivers Strong Q1FY25 Performance
MICL has reported robust performance in the first quarter of the financial year 2025. The company achieved a sales value of Rs 691 crore, surpassing its annual sales of Rs 744 crore in FY24.
Key Highlights and Strategic Initiatives
MICL has made significant strides during the quarter. A key highlight includes acquiring an ultra-luxury residential project in BKC, spanning 5.0 lakh sq. ft. with a saleable carpet area of 1.5 lakh sq. ft.
Financial Performance and Outlook
MICL's financial health is robust, with a total income of Rs 368.4 crores and a PBT of Rs. 113.2 crores in Q1FY25. The company's PAT stands at Rs 77.5 crore, and it maintains a net-debt-free position with a cash and bank balance of Rs 487 crores.
With a strong project pipeline and a solid financial foundation, MICL is well-positioned for future growth. The company's prestigious projects, such as Aaradhya Avaan in Tardeo and Aaradhya OnePark in Ghatkopar, have significant revenue potential.
Frequently Asked Questions
What is MICL Group's track record in delivering real estate projects?
MICL Group has a strong track record of delivering 19 real estate projects ahead of schedule.
What is the carpet area of Aaradhya Evoq?
The total carpet area of Aaradhya Evoq is around 60,000 square feet.
What is the revenue potential of Aaradhya Evoq?
The revenue potential of Aaradhya Evoq is about Rs. 250 crores.
What is MICL Group's financial health?
MICL's financial health is robust, with a total income of Rs 368.4 crores and a PBT of Rs. 113.2 crores in Q1FY25.
What is MICL Group's market capitalization?
MICL Group has a market capitalization of over Rs 7,000 crore.
Related News Articles
Real Estate Recovery Still a Distant Dream
The Indian real estate market is still reeling from the effects of demonetization, GST, and new regulations, with new project launches at a 13-year low.
Thane Ring Metro Set to Revolutionize Connectivity and Real Estate
The Union Cabinet's approval of the Thane Integral Ring Metro Rail Project is expected to significantly enhance urban mobility and real estate in Thane, driving growth in property values and investment opportunities.
Minor Hotels Europe & Americas Partners with Deepki to Achieve Net Zero Goals
Minor Hotels Europe & Americas has chosen Deepki, a market-leading ESG platform, to support its transition to net zero and improve its sustainability practices worldwide.
Odisha Real Estate Regulatory Authority Launches ORERA Website Version 2.0
Bhubaneswar: The Odisha Real Estate Regulatory Authority (ORERA) has launched a new version of its website, ORERA Version 2.0, on December 20. ORERA Chairperson Siddhant Das spearheaded the initiative to enhance transparency and efficiency in the real est
Record Rs 60,000 Crore Real Estate Launches Expected in Q4
The Indian real estate sector is poised to witness a significant boost with potential launches worth Rs 60,000 crore in Q4, driven by leading developers like Lodha Group.
Pune Airport Garden Degraded into a Garbage Dump: A Call for Immediate Action
The beautiful garden at Pune Airport has been turned into a garbage dump, raising serious concerns about environmental management and public health. The local authorities have been notified, and immediate action is required to restore the area to its former glory.