In an exchange filing, the civil construction said, “MICL Group to develop one of the largest redevelopments in western suburbs of Mumbai city having carpet area for sale of about 17 lakhs square feet with potential to generate revenue of Rs 4,000 crore in next 5 years on its part.”

Manan P. Shah, managing director said, "We are excited and thrilled to announce that MICL Group has expanded its horizons in western suburbs by adding a large scale development project located at Goregaon West. The aforementioned project is spread over a 10 acre land parcel which will witness one of the largest redevelopments in the Mumbai market.

The latest addition of the project will expand MICL Group's Real Estate Portfolio from 4.6 million sq. ft. to 6.3 million sq. ft. of carpet area. The project having total construction area of over 50 lakh sq. ft. is likely to be undertaken by Man Infraconstruction which is expected to be completed within 5 to 6 years of time."

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.

Man Infraconstruction reported a net profit of Rs 82 crore in Q1 FY24, which is higher by 112% as compared with Rs 39 crore in Q1 FY23. Revenue increased by 45% YoY to Rs 510 crore in the first quarter of FY24.