MAN Industries India Limited, part of the well-diversified UK-based USD 1billion MAN Group and India's leading manufacturer of large diameter line pipes and coating systems, today announced its plans to diversify into the real estate sector. The company's subsidiary, MAN Infraprojects Limited plans to develop seven projects in Mumbai, Navi Mumbai and Indore with an investment of Rs 1000 crore in the next three years. With a total built-up area of 10 million sq ft., the projects would be worth over Rs 4000 crore. |
"Our Group has vast experience in the real estate sector," says Mr. R C Mansukhani, Chairman, MAN Infraprojects Ltd. "We would like leverage our expertise in the sector to create landmarks of excellence in every project we undertake. We plan to partner with the best of brands to create outstanding value for our esteemed customers."
"Our endeavour would be to target customers who love leading five-star life at all times," says Mr. Nikhil Mansukhani, director, MAN Infraprojects Ltd. "That would be the overriding theme in all our projects "� be it residential or commercial. Initially, we would like to focus on Mumbai, Navi Mumbai and Indore."
In Phase I, MAN Infraprojects Limited plans to develop three projects "� two in Mumbai and one in Navi Mumbai with a total built-up area of over one million sq ft.
In Mumbai, the company is planning two commercial projects in Bandra and Vile Parle. In Navi Mumbai, MAN Infraprojects Limited will develop a mixed-use township complete with a five-star hotel, a IT-cum-commercial centre besides a luxury residential block. The site is located opposite the D Y Patil stadium.
Work on the three projects will commence in the next few days, and would be completed in next 2 years. The total investment in these projects would be Rs 500 crore. The group is also actively negotiating for large parcel of land for development of integrated satellite townships.
During 1982-1990, the MAN Group developed 50 projects in Mumbai and Indore.
About MAN Group
MAN Industries (India) Ltd., an ISO 9001 / 14001 / 18001 accredited Company, is a leading manufacturer of SAW Pipes (Line Pipes) and Coating Systems for high-pressure Oil & Gas applications with a potential production capacity of approximately one million MT of SAW pipes per annum.
The Company is a part of the well diversified MAN Group, growing under the able leadership of Shri. R. C. Mansukhani. Starting as an Aluminium Extruder in 1988, MAN Industries has now become a large player in SAW Pipes. It is also a significant sized player in Spirally Welded Pipes and Coating Systems. MAN Industries operations are spread across globally with offices in U.K. and U.A.E. besides India.
The shares of the Company are listed with Bombay Stock Exchange and National Stock Exchange and the GDRs of the Company are listed with Dubai International Financial Exchange (DIFX).
