With a revenue potential of Rs 2,100 crore
Man Infraconstruction (MICL) announced that its ultra-luxurious project at Marine Lines, South Mumbai. The project is set to become yet another tallest residential structures in India to be done by MICL group surpassing the height of above 800 feet.With the total construction area of approximately 22 lakh square feet offering a RERA carpet area of around 5.3 lakh square feet for sale, the project is expected to generate total sales value of above Rs. 2,100 crore. The project is executed under the company's asset-light Development Management (DM) model with a Letter of Intent (LOI) from Shreepati Zaoba Housing LLP.
MICL is poised to achieve an expected Profit Before Tax of Rs. 400+ crore from this project. This shall comprise of the DM fees, Project Management Consultancy (PMC) fee on construction and an interest income on the initial investment made by the company in the project.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
