MICL Group acquires another Ultra-Luxurious Residential Project in Mumbai's premium location at BKC

MICL Group, amongst the leading real estate developers in Mumbai, is pleased to announce the acquisition of a prime redevelopment project at Bandra Kurla Complex (BKC). The project marks MICL's strategic move into premium redevelopment projects in sought-after locations.

This prestigious project of MICL Group is a redevelopment of Artek Co-operative Housing Society Limited (Society), in Kalanagar area situated at BKC. BKC, known for hosting a number of multinational corporations, financial institutions, and government offices, is attracting many professionals, entrepreneurs, and investors looking for a premium location to live near their workplace. BKC has transformed into a vibrant residential area, offering a unique and luxurious lifestyle. As demand for high-end homes in Mumbai continues to grow, BKC stands out for its perfect blend of residential living and business prowess. This project's strategic location is set to make it a landmark in Mumbai's foremost commercial district.

The project has a total construction area of approximately 5.0 lakh square feet and offers a RERA carpet area of around 1.5 lakh square feet for sale. With a proven track record of delivering all its 16 projects before time, MICL group intends to deliver this project in a span of 3 years from the launch date.

Man Infraconstruction Limited holds 34% stake in the project. The project will be undertaken in one of its associate entity, 'Arhan Homes LLP'. The construction of the property will be executed by Man Infraconstruction Limited.

Commenting on this development, Mr. Manan P. Shah, Managing Director said, "We are excited to announce the acquisition of this prestigious redevelopment project at BKC, where we have executed the Development Agreement with the Society. This project aligns with our vision of strengthening MICL Group's presence in Mumbai region by creating iconic developments that offer a superior living experience. We look forward to delivering yet another benchmark project that reflects our commitment to excellence."

Shares of Man Infraconstruction Limited was last trading in BSE at Rs. 194.85 as compared to the previous close of Rs. 190.15. The total number of shares traded during the day was 16065 in over 673 trades.

The stock hit an intraday high of Rs. 198.25 and intraday low of 191.25. The net turnover during the day was Rs. 3137770.00.

Source : Equity Bulls

Keywords

ManInfraconstruction INE949H01023 MICLGroup RedevelopmentProject BKC Mumbai