ManInfra Shares Clocks All-Time High On Unveiling Aaradhya OnePark Project

Man Infraconstruction's shares saw a rise of 7.28% over the previous close on Monday after opening on the BSE at Rs 226.90 apiece and reaching a new high of Rs 242.35 during the afternoon trade. The announcement of "Aaradhya OnePark"-the unveiling of Uber-luxurious residences in Ghatkopar East, Mumbai, with a 4 lakh square foot carpet area for sale after obtaining all approvals-led to a spike in Man Intra's stock prices.

The Innovative Community Living Concept has been introduced by Aaradhya OnePark, which offers luxurious residences in 3 BHK, 4 BHK and 5 BHK segments in addition to more than 50 lifestyle amenities. This massive project, which is located at Ratilal B. Mehta Road (60 Feet Road), Ghatkopar (East), Mumbai, covers an area of more than 12,000 square meters and is divided into ten societies.

The MICL Group anticipates a robust sales momentum for the project and revenue of Rs. 1,200 crore over the next four years.

Commenting on this development, Mr. Manan P. Shah, Managing Director said, "We are very delighted to have received all the approvals from the concerned authorities including the: Intimation of Disapproval (IOD), Commencement Certificate (CC), Clearance from Aviation Authorities and MahaRERA registration certificate. The construction work at the site has been commenced and shall be executed as per the scheduled timelines. The launch of Aaradhya OnePark marks a significant milestone in our journey towards becoming the preferred luxurious real estate developers in Mumbai."

For the fiscal year that ended on March 31, 2023, ManInfra (NSE: MANINFRA, BSE: 533169) reported an annual consolidated revenue of Rs. 1,890.35 crores, a net profit of Rs. 258.57 crores, with a net cash positive balance sheet. With its two business verticals-construction and real estate development-it has its headquarters in Mumbai. ManInfra Group is a renowned real estate developer in Mumbai who has completed 15 residential projects on deadline and with excellent construction quality.