MICL Group receives IOA for ultra-luxury sea-view residential project off Bandstand, Bandra West, Mumbai

Man Infraconstruction Limited ("MICL Group") has secured the Intimation of Approval (IOA) for its ultra-luxury sea-view residential development located off Bandstand, Bandra West, Mumbai.

Commenting on the development, Mr. Manan Shah, Managing Director, MICL Group, said: "This approval marks a key development milestone for MICL Group and advances our third residential development in Bandra. The IOA enables us to progress towards the vacation of the existing premises, preparation for demolition and securing the requisite approvals ahead of the project launch.

The development will be named - 'Berkeley House' (The One & Only) within our MS Collection Residences vertical - a boutique sea-view residential offering catering to the premium luxury segment. We expect Berkley House to soon enter the market, further building momentum for our Bandra portfolio. We remain confident of launching the project in FY27, as guided earlier.

Bandra continues to witness constant end-user demand and remains one of Mumbai's most aspirational residential destinations. With limited availability of quality residential developments at coveted locations, the micro-market continues to command premium pricing and demonstrate resilience.

Our Bandra portfolio represents a combined Gross Development Value (GDV) of ₹2,350+ crores, comprising Artek Park at Bandra Kurla Complex (BKC), our newly launched project at Pali Hill, Bandra West, which has received an overwhelming response, and our latest addition 'Berkeley House', off Bandstand, Bandra West.

We will continue to pursue opportunities in marquee locations across the micro-market, further deepening our presence and strengthening the MICL brand".

MICL Group holds approximately 70% stake in the newly acquired project - Berkeley House, off Bandstand, Bandra West project.

Shares of Man Infraconstruction Limited was last trading in BSE at Rs. 113.76 as compared to the previous close of Rs. 113.32. The total number of shares traded during the day was 198439 in over 1471 trades.

The stock hit an intraday high of Rs. 117.21 and intraday low of 112.15. The net turnover during the day was Rs. 22982641.00.

Source : Equity Bulls

Keywords

ManInfraconstruction INE949H01023 MICLGroup UltraLuxury SeaView Residentialproject Bandstand BandraWest Mumbai