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Man Infraconstruction Limited (MICL), a leading player in the real estate industry, has set a new benchmark by delivering Aaradhya Highpark Towers E & F, located near Dahisar at Mira Road, a remarkable 21 months ahead of its scheduled completion date. This achievement highlights MICL’s commitment to timely project delivery and quality construction in the residential segment.
The early delivery of Aaradhya Highpark Towers E & F underscores MICL Group’s dedication to exceeding customer expectations. Despite facing the challenges posed by the pandemic and other logistical hurdles, MICL has successfully completed and secured the Occupancy Certificate (OC) for these towers, demonstrating its adherence to high standards of quality and compliance.
The Aaradhya Highpark project spans across 2.21 lakh square feet, comprising two towers that have received an overwhelming response from homebuyers, with 89% of the RERA Carpet area already sold. The project’s success is further evidenced by its 95% overall sales achievement, covering approximately 6.5 lakh square feet of RERA carpet area.
Mr. Manan Shah, Managing Director of MICL, expressed his delight at the remarkable sales achievement of Aaradhya Highpark. With an impressive 89% of the RERA Carpet area sold and 95% overall sales achievement, the project has received overwhelming support from homebuyers, reflecting their trust and confidence in MICL’s offerings.
The early delivery of Aaradhya Highpark Towers E & F reflects MICL Group’s unwavering commitment to quality construction and timely project completion. By delivering over 1,300 apartments, including shops, across six residential towers and one commercial tower, MICL has demonstrated its expertise in crafting exceptional living spaces that prioritize luxury, comfort, and sustainability.
The company operates across various business sectors, including real estate development, infrastructure projects, and engineering, procurement, and construction (EPC) services. Currently, it has ongoing projects covering approximately 1.9 million square feet, with delivered projects totaling about 2.2 million square feet. Additionally, there are upcoming projects spanning around 2.4 million square feet, indicating a balance potential of 5.7 million square feet in the real estate portfolio.
In terms of EPC projects, the company has an order book valued at approximately Rs. 1,047 crores. Within the real estate portfolio, residential projects constitute 87%, while infrastructure projects make up the remaining 13%. The ongoing infrastructure projects include ports and other infrastructural developments, covering an area of approximately 110 hectares.
Maintaining strong liquidity and profitability is a priority for the company, with a focus on achieving a net cash positive position and maintaining high liquidity levels. Additionally, the company aims for a healthy bottom line, emphasizing profitability in its operations.
MICL Group’s early delivery of Aaradhya Highpark Towers E & F represents a significant milestone in the real estate industry. By setting new standards for possession timelines and quality construction, MICL has reaffirmed its position as a trusted name in the market. This achievement not only reflects MICL’s dedication to customer satisfaction but also underscores its commitment to advancing infrastructure development in India.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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