MICL Group Secures IOA For Tardeo 2.0, Marking Key Development Milestone For ₹2,000+ Crores GDV Project

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Man Infraconstruction Limited (MICL Group) (BSE: 533169, NSE: MANINFRA) is pleased to announce that it has secured Intimation of Approval (IOA) for its Tardeo 2.0 project located in South Mumbai.

Commenting on the development, Mr. Manan Shah, Managing Director, MICL Group, said: "This milestone marks an important milestone, in advancing Tardeo 2.0 one of our marquee South Mumbai developments. The approval enables progression towards vacating premises, preparation for demolition and obtaining requisite approvals ahead of launch.

With an estimated Gross Development Value (GDV) exceeding ₹2,000 crores, the project is planned for launch in FY27.

Aggregating approximately 46,000+ sq. ft. of plot area and located at one of South Mumbai’s most established and premium residential addresses, the development further strengthens our presence in this strategic micro-market. Together with Aaradhya Avaan and our Marine Lines project, these marquee South Mumbai developments represent cumulative GDV potential exceeding ₹8,000 crores and provide strong visibility for our growth pipeline over the coming years."

The Tardeo 2.0 project will be developed through Man Aaradhya Infraconstruction LLP, in which MICL Group holds about 50.5% equity stake.

Maninfra (BSE: 533169, NSE: MANINFRA) reported consolidated Total Income of Rs. 1,231 Crores and Net Profit of Rs. 283 Crores for the financial year ended 31st March, 2025. It is a net cash positive company at consolidated levels as on March 2025. The company is headquartered in Mumbai having two business verticals viz., Construction and Real Estate Development. MANINFRA is an integrated EPC (Engineering, Procurement and Construction) company with nearly six decades of experience and execution capabilities in Port, Residential, Commercial & Industrial and Road construction segments with projects spanning across India. As a Real Estate Developer, MICL Group has delivered several residential projects in Mumbai and is recognized for its superior quality construction and timely project delivery. The Company has extensive experience in construction management and has inherent skills and resources to develop and deliver Real estate projects

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