Rs 503 crore EPC order book: Net cash positive company strengthens position in US real estate market with MICL Tigertail LLC acquisition
The company's shares have an ROE of 23 per cent and an ROCE of 28 per cent.
MICL Tigertail LLC, an associate of MICL Global, Inc., a wholly-owned subsidiary of Man Infraconstruction Ltd, has increased its stake in the said LLC by acquiring an additional 25% of its membership interest. This acquisition was effective May 27, 2025, and was completed for a cash consideration of US$1 million. MICL TIGERTAIL LLC operates in the Real Estate Development industry and was incorporated in June 2024 in Miami, Florida, USA, to engage in real estate development and other lawful activities. While it is currently in the initial stages of business operations with a NIL turnover, this acquisition is aimed at furthering the Company's strategic objectives in real estate development.
This transaction is not classified as a related party transaction, although MICL TIGERTAIL LLC is an associate of a wholly-owned subsidiary. It's noted that Mr. Vatsal Shah, from the Promoter Group, has been appointed as a Manager of MICL TIGERTAIL LLC, but the Promoter and Promoter Group otherwise have no interest in the entity. The acquisition details align with the requirements of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023.
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About the Company
Man Infraconstruction Ltd, a Mumbai-based company listed on both NSE (MANINFRA) and BSE (533169), specialises in EPC (Engineering, Procurement, and Construction) and Real Estate Development. It has a 50-year EPC history and strong execution in the ports, residential, commercial, industrial, and road sectors across India. Man Infra also excels in Mumbai's real estate market, delivering high-quality residential projects on time. Its construction management expertise and resources make it a capable real estate developer.
In its Q4FY25 results, the company's total income rose by 19.2 per cent to Rs 379.8 crore, and net profit increased by 16 per cent to Rs 97.2 crore, compared to Q3FY25. For the full FY25, the company reported a total income of Rs 1,231.3 crore and a net profit of Rs 312.8 crore. Man Infraconstruction Limited (MICL) demonstrated robust operational performance in FY25 with total sales of Rs 2,251 crore, a threefold increase from Rs 744 crore in FY24, with Q4 FY25 alone contributing Rs 743 crore, marking a 90 per cent year-on-year growth. The carpet area sold more than doubled to approximately 8 lakh sq. ft. in FY25 from around 3 lakh sq. ft. in FY24, and collections improved to Rs 1,270 crore for FY25, up from Rs 1,197 crore in FY24.
MICL launched two new projects in Q4 FY25 with a combined revenue potential of approximately Rs 1,600 crore, generating around Rs 700 crore in sales shortly after launch. The company plans to launch new projects totalling about 7.4 lakh sq. ft. of carpet area in FY26, with an estimated sales potential of Rs 3,400 crore. These projects are in prime Mumbai micro-markets. MICL maintains a strong, net-debt-free balance sheet with consolidated cash and equivalents of Rs 570 crore as of March 2025, and has a total investment of Rs 1,166 crore in its Real Estate Projects as of March 2025.
Man Infraconstruction Ltd. has announced a strong order book of Rs 503 crore as of March 2025. The company has a market cap of over Rs 6,000 crore and has delivered good profit growth of 48.3 per cent CAGR over the last 5 years with a net cash positive position. The company's shares have an ROE of 23 per cent and an ROCE of 28 per cent.
Disclaimer: The article is for informational purposes only and not investment advice.