Project Development Update
Man Infraconstruction Limited (MICL Group) has secured Intimation of Approval (IOA) for its Tardeo 2.0 project located in South Mumbai. This approval represents a key development milestone for the project.
Project Details and Financial Scope
- Project Name: Tardeo 2.0
- Location: South Mumbai
- Plot Area: Approximately 46,000+ sq. ft.
- Gross Development Value (GDV): Exceeding ₹2,000 crores
- Development Entity: The project will be developed through Man Aaradhya Infraconstruction LLP, in which MICL Group holds about 50.5% equity stake
- Launch Timeline: Planned for launch in FY27
Strategic Context and Market Position
The Tardeo 2.0 project is described as one of the company's marquee South Mumbai developments located at one of South Mumbai's most established and premium residential addresses. This development further strengthens the company's presence in this strategic micro-market.
Cumulative Pipeline Value
Together with Aaradhya Avaan and the Marine Lines project, these marquee South Mumbai developments represent cumulative GDV potential exceeding ₹8,000 crores. This pipeline provides strong visibility for the company's growth over the coming years.
Next Steps
According to management commentary, the approval enables progression towards:
- Vacating premises
- Preparation for demolition
- Obtaining requisite approvals ahead of launch
Company Background Context
Man Infraconstruction Limited reported consolidated Total Income of ₹1,231 Crores and Net Profit of ₹283 Crores for the financial year ended 31st March, 2025. The company is net cash positive at consolidated levels as of March 2025. The company operates two business verticals: Construction and Real Estate Development, with nearly six decades of experience in EPC (Engineering, Procurement and Construction) projects including Port, Residential, Commercial & Industrial, and Road construction segments spanning across India.