Man Infraconstruction Ltd Completes 7.2 Lakh Sq. Ft. ‘Atmosphere O2’ Project with Nearly Full Sales

On September 25, 2024, Man Infraconstruction Limited (MICL) announced that it had achieved a significant milestone by securing the Occupancy Certificate (OC) for the F-wing of its prestigious “Atmosphere O2” project in Mulund West, Mumbai, within approximately 3.5 years of its launch. This accomplishment highlights MICL’s consistent track record, having successfully delivered 2.8 million square feet of carpet area ahead of schedule, underscoring its expertise and commitment to timely project completion.

The Atmosphere O2 project encompasses around 7.2 lakh square feet of RERA carpet area and 18.6 lakh square feet of construction area, comprising three 47-storey residential towers and an 18-storey commercial tower. With a revenue potential of approximately ₹1,650 crore, the project is nearly sold out, with total collections reaching about ₹1,475 crore as of September 2024 from bookings. This reflects the overwhelming demand and confidence that buyers have in MICL Group’s premium offerings.

Following the success of the first phase of Atmosphere, Atmosphere O2 has quickly become one of the most sought-after gated community projects in Nahur, Mulund West. Launched in November 2019, MICL Group delivered Towers D and E in September 2023, and the completion of Tower F is scheduled for September 2024.

The Managing Director of MICL Group, Manan Shah, said, “The swift sellout of such a large project before the OC is a testament to the trust our customers have in MICL’s quality and timely delivery. Atmosphere O2 reaffirms our leadership in execution, sales and our commitment to exceeding customer expectations.” 

About Man Infraconstruction Limited

Man Infraconstruction Limited reported a consolidated total income of ₹1,360 crore and a net profit of ₹300 crore for the financial year ended March 31, 2024. As of March 2024, MICL is a net cash-positive company at consolidated levels. Headquartered in Mumbai, MICL operates across two business verticals: Construction and Real Estate Development. With nearly six decades of experience, the company is an integrated EPC (Engineering, Procurement, and Construction) firm, specialising in various sectors, including Port, Residential, Commercial, Industrial, and Road construction across India. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.