Man Infraconstruction has recently secured the Commencement Certificate (CC) for its much-anticipated residential project in Vile Parle, Mumbai. Despite this significant milestone, the company's shares opened marginally lower in early trade on October 3. The project is set to launch soon, following the necessary RERA approvals formally.
Project overview
Spanning over 3 acres, the Vile Parle project features 10 residential towers, each standing 15 storeys high. The project offers premium 2 BHK, 3 BHK, and 4 BHK flats, with a total carpet area for sale of approximately 3.5 lakh square feet. The estimated sale potential for this development is over ₹1,200 crore, and it is being executed through a joint venture (JV) under Man Infraconstruction’s asset-light Development Management (DM) model.
The company is poised to achieve a profit before tax (PBT) exceeding ₹200 crore from this project. Speaking on the development, Manan Shah, Managing Director of MICL Group, stated, "We are thrilled to have secured the Commencement Certificate for our highly anticipated Vile Parle project. With meticulously planned space on 3 acres of land, we are set to redefine luxury living in Mumbai."
Share market performance
Despite this major development, Man Infraconstruction’s shares experienced a slight dip in early trading. As of 09:27 am on October 3, the stock was quoted at ₹190.85, down ₹0.55 or 0.29% on the BSE. This fluctuation could present an opportunity for those looking to buy shares online in a promising real estate company with high growth potential.
Key features of the project
Here are some of the key features of the Vile Parle residential project:
This project is positioned to set new benchmarks in Mumbai’s real estate market, offering premium living spaces in a prime location. With the company’s proven track record, those interested in the property sector may find it advantageous to buy shares online while monitoring the stock’s performance.
Why should investors keep an eye on Man Infraconstruction?
Man Infraconstruction has demonstrated strong growth potential with its strategic projects and innovative development models. The asset-light Development Management model allows the company to manage risks effectively while maximising profitability. Investors keen on diversifying their portfolio in the real estate sector might consider this a compelling opportunity to buy shares online in a company poised for long-term success.
Moreover, with the potential for a significant profit from this residential project, Man Infraconstruction remains a key player in Mumbai’s thriving real estate market. The company's ability to deliver high-quality residential spaces in prime locations makes it an attractive option for those looking to buy shares online.
Conclusion
Man Infraconstruction’s recent achievement of securing the Commencement Certificate for its Vile Parle project marks a major step forward for the company. With a project that is expected to generate over ₹1,200 crore in sales and a strong forecasted profit, the company's stock presents a potential investment opportunity. Investors looking to tap into the booming real estate market may find it beneficial to buy shares online in Man Infraconstruction and capitalise on its future growth.
For android only