Man Infraconstruction Limited (MICL Group) disclosed through a regulatory filing under SEBI Listing Regulations Regulation 30 that it has secured the Intimation of Approval (IOA) for an ultra-luxury sea-view residential development project.
The project is located off Bandstand, Bandra West, Mumbai and will be developed under the company's MS Collection Residences vertical. The development is named 'Berkeley House' (The One & Only) and represents a boutique sea-view residential offering targeting the premium luxury segment.
Key Project Details:
- Gross Development Value (GDV): ₹1,000+ crore
- Location: Off Bandstand, Bandra West, Mumbai
- MICL Group stake: Approximately 70%
- Project vertical: MS Collection Residences
Management Commentary:
Mr. Manan Shah, Managing Director of MICL Group, stated that this approval marks a key development milestone and advances the company's third residential development in Bandra. The IOA enables progression toward vacation of existing premises, preparation for demolition, and securing requisite approvals ahead of project launch. The company maintains guidance to launch the project in FY27.
Portfolio Context:
The Bandra portfolio now represents a combined Gross Development Value of ₹2,350+ crores, comprising:
1. Artek Park at Bandra Kurla Complex (BKC)
2. Newly launched project at Pali Hill, Bandra West
3. Berkeley House off Bandstand, Bandra West
Strategic Outlook:
The company indicated it will continue to pursue opportunities in marquee locations across the Bandra micro-market to deepen presence and strengthen the MICL brand. Bandra is described as witnessing constant end-user demand and remaining one of Mumbai's most aspirational residential destinations, with limited availability of quality developments commanding premium pricing.
Regulatory Compliance:
The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The press release will be placed on the company's website.