December 30, 2023
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Man Infra bags Redevelopment Project in Mumbai’s Bandra, co-owned by Aamir Khan
Man Infraconstruction Limited, an integrated EPC (Engineering, Procurement and Construction) today announced it was redeveloping a luxury property at the coveted Pali Hill, Bandra West, where Bollywood actor Aamir Khan resides in Mumbai.
The property belongs to Virgo Co-operative Housing Society, located at Pali Hill, Bandra (West) area of Mumbai. The property has 24 flats, of which Khan owns nine.
According to an exchange filing, the redevelopment of the property will be undertaken by one of the associate entities of Man Infraconstruction Limited wherein it holds a 34 per cent stake.
“Man Infraconstruction Limited (“the Company”) through one of its associate entity wherein it holds 34 per cent stake; will undertake the redevelopment of property belonging to Virgo Co-operative Housing Society Limited, located at Pali Hill, Bandra (West), Mumbai, Maharashtra. This landmark project has potential to offer carpet area for sale of about 50,000 sq. ft. area and is expected to generate total revenue of about Rs. 500 Crores,”
“We are delighted to share the news of our latest luxury development in one of the Mumbai’s most sophisticated and affluent neighborhoods. Taking on this redevelopment opportunity, we are strategically expanding our real estate portfolio within the luxury segment, responding to the great demand and absorption in this segment,” Manan Shah, the Managing Director of MICL Group, was quoted as saying in an exchange filing.
Shares of company, hit upper circuit on Friday i.e. December 29. Small-cap stock rose 4.2 per cent to its intraday high of Rs 216.50 per share. The counter had closed at Rs 207.75 per share in the last trading session.
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