Total expenses rose 30.1% to Rs 327.98 crore in quarter ended 31 December 2022. Cost of materials consumed was at Rs 163 crore (up 168% YoY) and employee benefit expenses stood at Rs 17.64 crore (up 20.2% YoY) during the quarter.

Commenting on the Q3FY23 results, Manan Shah, managing director, Man Infraconstruction, said, "The demand in the real estate sector has remained resilient over last few years since the upturn of the cycle and we continued to witness similar momentum in 9mFY23. We are seeing very good demand for premium lifestyle homes and luxury residential apartments which is our core portfolio offerings. This has also been demonstrated in our sales performance where more than half of the inventory from the new launches during the year, has been sold out in few weeks of the launch. We continue to service Indian customer aspirations of owning better and larger homes with our premium and luxury lifestyle projects."

Mumbai-based Man Infraconstruction has two business verticals viz., EPC (engineering, procurement and construction) and real estate development.