The Board of Directors of Man Infraconstruction at its meeting held on 22 March 2024, subject to requisite approvals/consents, approved the Scheme of Arrangement and Merger by Absorption of Manaj Tollway (MTPL or Transferor Company 1) and Man Projects (MPL or Transferor Company 2) (together referred to as Transferor Companies), wholly owned subsidiaries of the Company, with the Company. Powered by Capital Market - Live News

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

Man Infraconstruction announced that the Board of Directors of the Company at its meeting held on 5 February 2024, inter alia, have recommended the interim dividend of Rs 0.54 per equity Share (i.e. 27%) , subject to the approval of the shareholders.Powered by Capital Market - Live News

Net profit of Man Infraconstruction declined 2.05% to Rs 83.03 crore in the quarter ended December 2023 as against Rs 84.77 crore during the previous quarter ended December 2022. Sales declined 47.08% to Rs 241.76 crore in the quarter ended December 2023 as against Rs 456.86 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales241.76456.86 -47 OPM %42.4728.21 - PBDT125.93129.69 -3 PBT123.37126.67 -3 NP83.0384.77 -2 Powered by Capital Market - Live News

Net profit of Man Infraconstruction declined 55.52% to Rs 20.77 crore in the quarter ended December 2023 as against Rs 46.70 crore during the previous quarter ended December 2022. Sales declined 49.81% to Rs 111.26 crore in the quarter ended December 2023 as against Rs 221.69 crore during the previous quarter ended December 2022. ParticularsQuarter Ended�Dec. 2023Dec. 2022% Var. Sales111.26221.69 -50 OPM %16.7621.54 - PBDT30.2563.36 -52 PBT28.4561.46 -54 NP20.7746.70 -56 Powered by Capital Market - Live News