Commenting on this development, Manan P. Shah, Managing Director said, “We proudly announce the receipt of an IOD approval and necessary approvals from concerned authorities for its 12,000+ square meter gated community Luxurious Residential Project of 10 societies located at Ratilal B. Mehta Road (60 Feet Road), Ghatkopar (East), Mumbai. The project is in the stage of receiving other approvals in due course of time. MICL Group is excited and gearing up to launch the project likely in the fourth quarter of the financial year 2023-24. The company is expected to generate revenue of Rs. 1,200 crore in next 4 years from this project.”