📋 Tender Overview
Scope : To Develop Redevelopments Project at Goregaon West in Mumbai.
Man Infraconstruction (MICL) is planning to develop one of the largest redevelopments at Goregaon West in Mumbai. The project, having a total construction area of over 50 lakh sq. ft., is likely to be completed within five to six years.
This acquisition aligns with its asset-light strategy, as the Group has expanded its horizons by adding a large-scale development project located in Mumbai.
The proposed project will spread over a 10-acre land parcel and has a carpet area for sale of about 17 lakh sq. ft. The project is expected to generate revenue of Rs 4,000 crore in the next five years.
With the addition of this project, the company would expand its real-estate portfolio from the current 4.6 million sq. ft. to 6.3 million sq. ft. of carpet area. MICL owns a 33.32 percent stake in Royal Netra Constructions (RNCPL) for the redevelopment project.
