Construction & Engineering company Man Infraconstruction announced Q1FY24 results: Revenue from operations saw strong growth of 45% YoY to Rs 510 crore compared to Rs 352 crore in Q1FY23 Total Income also grew by 45% to Rs 524 crore compared to Rs 360 crore in Q1FY23 EBITDA grew by 63% YoY to Rs 109 crore compared to Rs 67 crore in Q1FY23 Net profit jumped by 112% YoY to Rs 82 crore compared to Rs 38.9 crore in Q1FY23 MICL Group added another Ultra-Luxurious Residential Project with a saleable carpet area of ~4.0 lakh sq. ft. in Ghatkopar East, Mumbai Bags another significant size EPC order worth Rs 680 crore (inclusive of GST) from BMCT (PSA Group) for pavement work on the reclaimed earth on the execution of Phase II Infrastructure Works at the Fourth Container Terminal of JNPT Commenting on the Q1FY24 results, Manan Shah, Managing Director of Man Infraconstruction, said, "We are very excited to bag another port order from BMCT (PSA group) which will strengthen our EPC order book. We are also proud of the latest addition to our real estate portfolio of an ultra-luxurious residential project in Ghatkopar East, Mumbai – a grandiose development that epitomizes elegance and exclusivity. This acquisition is in line with our asset-light strategy. There is good demand for premium lifestyle homes and luxury residential apartments in the MMR region in which we operate and we continue to focus to cater these markets through our upcoming projects and projects in the pipeline. With new project launches planned in the second half of the financial year, we expect to end the year on a strong note as we continue to look out for future growth opportunities.” Result PDF
Construction & Engineering company Man Infraconstruction announced FY23 results: Revenue from operations in FY23 saw strong growth of 97% YoY to Rs 1,890 crore EBITDA in FY23 grew by 67% YoY to Rs 414 crore Net profit in FY23 grew by 20% YoY to Rs 259 crore Significant Debt reduction by Rs 313 crore in FY23 Strong Cash Flow from Operations of Rs 448 crore as on Mar-23 Commenting on the Q4FY23 and FY23 results, Manan Shah, Managing Director, Man Infraconstruction, said, "FY23 has been one of the most eventful years in the history of the MICL group as the company has achieved strongest collections of Rs 1,448 crore; a record number of projects delivered of 7.1 lakh square feet and a record number of new launches of projects of 7.2 lakh square feet in a financial year. We believe the real estate sector is witnessing one of the best growth cycles where a significant majority of the demand is coming from the end users led by rising incomes and increasing aspirations of newer and bigger homes. There is good demand for premium lifestyle homes and luxury residential apartments in the MMR region in which we operate and we continue to focus to cater to these markets through our upcoming projects and projects in the pipeline.” Result PDF