Revenue increased by 45% YoY to Rs 510 crore in the first quarter of FY24. On the segmental front, real estate revenue was Rs 134 crore (down 41% YoY) and EPC revenue was Rs 376 crore (up 198% YoY).

EBITDA increased by 63% to Rs 109 crore in Q1 FY24 from Rs 67 crore in Q1 FY23. EBITDA margin was 21.4% in Q1 FY24 as against 19% in Q1 FY23.

The company said that it has added another ultra-luxurious residential project with saleable carpet area of approximately 4 lakh sq. ft. in Ghatkopar East, Mumbai.

The firm further stated that it has bagged another significant size EPC order worth Rs 680 crore (inclusive of GST) from BMCT (PSA Group) for pavement work on the reclaimed earth on execution of Phase II Infrastructure Works at the Fourth Container Terminal of JNPT.

Manan Shah, managing director of Man Infraconstruction, said, "We are very excited to bag another port order from BMCT (PSA group) which will strengthen our EPC order book. We are also proud with the latest addition to our real estate portfolio of an ultra-luxurious residential project in Ghatkopar East, Mumbai – a grandiose development that epitomizes elegance and exclusivity.

This acquisition is in line with our asset-light strategy. There is good demand for premium lifestyle homes and luxury residential apartments in MMR region in which we operate and we continue to focus to cater these markets through our upcoming projects and projects in pipeline. With new project launches planned in second half of the financial year, we expect to end the year on a strong note as we continue to look out for future growth opportunities.”

Man Infraconstruction has two business verticals viz., EPC (engineering, procurement and construction) and real estate development. ManInfra has five decades of experience in EPC business and strong execution capabilities in ports, residential, commercial & industrial and road construction segments with projects spanning across India. As a real estate developer, ManInfra Group has delivered multiple residential projects in Mumbai and is recognized for its superior quality construction and timely project delivery.

The scrip shed 0.54% to currently trade at Rs 120.35 on the BSE.