MICL Group Delivers 19th Real Estate Project Ahead of Schedule, Boosts Revenue Potential
Aaradhya Evoq, the luxury residential project in Juhu, Mumbai, was completed in under 2.5 years, cementing MICL Group's commitment to timely execution and customer satisfaction.
Micl GroupMan Infraconstruction LtdReal EstateLuxury Residential ProjectMumbaiJuhuAaradhya EvoqReal Estate MumbaiSep 17, 2024
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. The overwhelming demand from buyers highlights the strong appetite for premium real estate in Mumbai’s prime locations.
This success reflects the trust and credibility that MICL Group has built in the market. Situated in Juhu, one of Mumbai’s most coveted neighborhoods, 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.
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's shares have an ROE of 25 per cent and an ROCE of 30 per cent. As of June 2024, the company’s order book stands at Rs 728 crore. 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.
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. This impressive feat is coupled with a remarkable increase in consolidated PBT margins from 21.7 per cent in Q1FY24 to 30.7 per cent in Q1FY25.
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. The project is slated for launch in FY25 with an estimated delivery timeline of three years.
Furthermore, MICL has secured an Occupation Certificate for the commercial tower, 'Gateway', in its Atmosphere O2 project, delivered ahead of schedule within 3.5 years. With a total revenue potential of over Rs 1,650 crore, this project is nearing complete sell-out.
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. Upcoming projects in Goregaon, Marine Lines, BKC, Pali Hill, Vile Parle and Dahisar further solidify MICL's position as a leading real estate developer in Mumbai.
Investors should keep an eye on this Small-Cap stock.
Frequently Asked Questions
What is the total carpet area of Aaradhya Evoq available for sale?
Around 60,000 square feet
What is the revenue potential of Aaradhya Evoq?
About Rs. 250 crores
What is the current order book of Man Infraconstruction Ltd?
Rs 728 crore
What is the market cap of Man Infraconstruction Ltd?
Over Rs 7,000 crore
What is the profit growth of Man Infraconstruction Ltd over the last 5 years?
48.3 per cent CAGR
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