Man Infraconstruction's September-quarter profit rises 14%, sales at ₹412 crore

Man Infraconstruction Limited, which runs its real estate arm as MICL Group, reported higher profit and revenue for the quarter ended 30 September 2026 in results it announced in Mumbai on Thursday, 29 October 2026. The company said in its results filing that profit after tax and non-controlling interest for the second quarter of FY27 was ₹6,275.54 lakh, or about ₹63 crore, up 14% year on year. Published profit figures vary slightly across reports; the filed figure is used here.

Revenue from operations rose 57% year on year to ₹266 crore. Total income grew 51% to ₹283 crore, and EBITDA rose 41% to ₹81 crore. For the first half of FY27, revenue from operations grew 30% to ₹484 crore and profit after tax rose 21% to about ₹134 crore.

Sales and collections

The company sold 1.1 lakh square feet in the quarter, worth ₹412 crore, and collected ₹355 crore. Sales in the June quarter were ₹290 crore, which takes first-half sales to ₹702 crore on 2.0 lakh square feet. Half-year collections were ₹599 crore. Reports differ on the year-ago sales base, so this article does not compare quarterly sales with the same quarter last year.

By segment, the real estate arm brought in ₹203.21 crore of revenue, against ₹106.87 crore a year earlier. The construction arm, which builds for outside clients, held revenue at ₹62.98 crore. The EPC division holds an order book of ₹5,855 crore for upcoming projects, including Tardeo 2.0 and O2 Hi-Street.

Marine Lines and the pipeline

On 28 September 2026, MICL announced a collaboration with Godrej Properties for a sea-facing residential project at Marine Lines in South Mumbai. The development rights, first held jointly by MICL and Shreepati Group, have moved to Godrej. MICL will recover its existing investment in the project, which it put at over ₹300 crore. Godrej has said the project has an estimated revenue potential of ₹6,000 crore on about 2.5 acres. Manan Shah, Managing Director, said the early cash would give the company greater financial flexibility to pursue new development opportunities in Mumbai.

The company said its pipeline in South Mumbai and Bandra carries an expected sales value of over ₹9,500 crore. It targets pre-sales of ₹5,000 crore over FY27 and FY28. Its ongoing projects are about 65–70% sold and are expected to be completed within 6 to 15 months, according to the company.

The company also announced an open-market share buyback of up to ₹169 crore. Shares touched a day high of ₹116.10 on 29 October and closed at ₹110.66 on the NSE, down ₹1.45 or 1.29% from the previous close of ₹112.11.

What investors will watch

Management said it has maintained its full-year guidance of about 25% growth in PAT over FY26. The next checks are whether quarterly sales keep pace with the ₹5,000 crore pre-sales target, whether the ongoing projects complete within the stated period, and whether the Marine Lines project moves to a formal launch and registration. No launch date for Marine Lines has been reported. The Berkeley House project in Bandra is expected to launch officially in FY27, and the Tardeo 2.0 launch is listed for the first quarter of FY28 by one aggregator, without a confirmed date.