Realty company Man Infraconstruction share price jumped 7% in Wednesday’s trading session after the group company secured a redevelopment project in South Mumbai with an estimated sales potential exceeding ₹2,000 crore.
The realty stock opened at ₹116.90 apiece today, as compared to previous close of ₹116.34 on Tuesday. The stock touched an intraday of ₹124.48 on NSE.
Man Infraconstruction new project details
In an exchange filing, announced the acquisition of development rights of Tardeo Court CHS & Tardeo Apartments CHS and outright purchase of Sethna House located at Tardeo in South Mumbai under the Cluster Redevelopment scheme 33(9).
The company further said in the filing that the proposed development, has an estimated sales potential exceeding ₹2,000 crore over the next 4–5 years.
The new acquisition, “Tardeo 2.0” comprising approximately 46,000+ sq. ft. of plot area is strategically located along South Mumbai’s celebrated Billionaires’ address, which will elevate the group’s ultra-luxury portfolio.
The project will be undertaken through Man Aaradhya Infraconstruction LLP, where the MICL Group holds an approximate 50.5% equity stake. Together, three flagship South Mumbai developments — Aaradhya Avaan in Tardeo, the Tardeo 2.0 project, and the Marine Lines project — are expected to generate a combined sales potential of over ₹8,000 crore.
“The Group’s South Mumbai journey is defined by scale, speed, and consistent market absorption. We are happy to have achieved a hat-trick in South-Mumbai with our latest acquisition at Tardeo,” said Manan Shah, Managing Director, Man Infraconstruction Limited.
Man Infraconstruction share price trend
The realty stock has remained volatile amid weak market sentiments. share price has gained over 15.46% in a week and 36.31% in a month.
However, the realty stock has descended over 7% in year-to-date (YTD) basis and 24% in a year.
Looking at the broader level, the stock has delivered 45% returns in three years and multibagger returns of 358% in five years.
Disclaimer: This story is for educational purposes only. Please consult with an investment advisor before making any investment decisions.