As the festive season boosts the property market, engineering, procurement, and construction (EPC) firm Man Infraconstruction has received the commencement certificate (CC) for a luxury residential project in Mumbai, according to a release.
According to the statement, the forthcoming home project is located in Mumbai’s Vile Parle region and has a sale potential of more than Rs 1,200 crore. The project will cover three acres of land and have ten apartment buildings. CC’s most recent acquisition prepares the initiative for a formal launch. The project will be officially launched soon after receiving the required RERA permissions.
The business stated that it expects a profit before taxes of more over Rs 200 cror e from the new luxury property, which would include premium 2 BHK, 3 BHK, and 4 BHK residential apartments. The announcement comes at a time when the real estate market is steadily expanding, owing to a variety of causes like urbanisation, greater disposable incomes, and favourable government policies.
Man Infra is headquartered in Mumbai and operates in two business verticals: construction and real estate. In FY2024, Man Infra reported a consolidated total income of Rs 1,360 crores and a net profit of Rs 300 crore.
Source: ET Now
