Announced Mon, 10 Aug · 12:45 IST
MICL Group gets IOA for Bandra luxury project with 1000+ crore GDV
MANINFRA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Price reaction · full curve 14 horizons · vs prior close
-2.2%1-day move
₹113.61
prior close
₹116.35
base price
In-mkt
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AI summary
MICL Group (Man Infra) secured Intimation of Approval (IOA) for Berkeley House, an ultra-luxury sea-view residential project off Bandstand, Bandra West, Mumbai. The project has a Gross Development Value (GDV) of over Rs. 1,000 crore. MICL holds about 70 percent stake. This is their third residential development in Bandra, taking the total Bandra portfolio GDV to over Rs. 2,350 crore. Launch is expected in FY27.
Likely market impact
Strengthens MICL luxury real estate pipeline in prime Bandra, adding 1000+ crore GDV. Positive for future revenue visibility, no immediate financial impact.