Date: October 29, 2026

Financial Performance Summary

Q2 FY27 Financial Results:

  • Revenue from Operations: ₹266 crores, grew 57% YoY
  • Total Income: ₹283 crores, grew 51% YoY
  • EBITDA: ₹81 crores, grew 41% YoY
  • PAT after Non-Controlling Interest: ₹63 crores, grew 14% YoY

H1 FY27 Financial Results:

  • Revenue from Operations: ₹484 crores, grew 30% YoY
  • Total Income: ₹518 crores, grew 25% YoY
  • EBITDA: ₹152 crores, grew 29% YoY
  • PAT after Non-Controlling Interest: ₹134 crores, grew 21% YoY

Operational Performance

| Period | Area Sold | Sales | Collection |

| Q2 FY27 | 1.1 Lakh sq. ft. | ₹412 Crores | ₹355 Crores |

| H1 FY27 | 2.0 Lakh sq. ft. | ₹702 Crores | ₹599 Crores |

Strategic Developments & Guidance

Management Commentary by Manan Shah, Managing Director:

  • Company has sustained profitable growth momentum established at start of FY27
  • Ongoing projects (excluding newly launched projects) are approximately 65-70% sold
  • Ongoing projects expected to approach completion over next 6-15 months
  • Expected outcomes: higher revenue recognition, profitability and cash flows going forward

Buyback Program:

  • Open-market buyback with maximum size of ₹169 crores announced
  • 75.2% of maximum approved size already completed

Project Development Milestone:

  • Collaborated with Godrej Properties Group for development of Marine Lines Project
  • Recouped investments of ₹300+ crores from Marine Lines Project
  • Will continue to benefit through revenue sharing arrangement from the project

Project Pipeline:

  • Strong pipeline of marquee project developments at Mumbai's iconic locations
  • Locations: South Mumbai and Bandra
  • Estimated Gross Development Value: over ₹9,500 crores
  • Specific projects: Tardeo 2.0, Marine Lines, and Berkeley House at Bandstand
  • Expected to generate further sales momentum in coming quarters

Guidance:

  • PAT growth guidance: approximately 25% growth over FY26
  • Combined pre-sales guidance: ₹5,000 crore over FY27 and FY28

Company Background

Man Infraconstruction Limited (MICL Group) is headquartered in Mumbai with two business verticals:

1. EPC (Engineering, Procurement and Construction)

2. Real Estate Development

EPC Business:

  • Six decades of experience
  • Strong execution capabilities in Ports, Residential, Commercial & Industrial, and Road construction segments
  • Projects spanning across India

Real Estate Development:

  • Delivered multiple Residential projects in Mumbai
  • Recognized for superior quality construction and timely project delivery
  • Extensive experience in construction management
  • Inherent skills and resources to develop and deliver Real estate projects