Man Infraconstruction Ltd’s shares were up 6.15 per cent after the company said it is embarking on a significant redevelopment project in Goregaon West, Mumbai.
Covering a 10-acre land parcel, this venture is poised to deliver 1.7 million square feet of carpet area and generate over Rs 4,000 crore in revenue within 5 to 6 years. MICL Group’s real estate portfolio is expected to expand from 4.6 million to 6.3 million square feet.
Manan P. Shah, Managing Director, said, “The project acquisition is a big achievement for the MICL Group. The project will be one of the largest redevelopments in the Mumbai market.”
The shares were up 6.15 per cent at Rs 146.65 at 11.21 am on the BSE.