Man Infraconstruction Limited (‘MICL’), headquartered in Mumbai, a leading construction company and a pioneer name in real estate development, announced its results for the period of FY23 and fourth quarter of FY23. MICL reports strong growth in operational and financial performance.
Highlights for FY23 Consolidated Financials
- 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
*Secured Debt
Commenting on the Q4 and FY23 results, Mr. Manan Shah, Managing Director, Man Infraconstruction Limited, 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; 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 MMR region in which we operate and we continue to focus to cater these markets through our upcoming projects and projects in pipeline.”
About Man Infraconstruction Limited
ManInfra (NSE – MANINFRA, BSE – 533169) is headquartered in Mumbai having two business verticals viz., EPC (Engineering, Procurement and Construction) and Real Estate Development. ManInfra has five decades of experience in EPC business and strong execution capabilities in Ports, Residential, Commercial & Industrial and Road construction segments with projects spanning across India. As a Real Estate Developer, ManInfra Group has delivered multiple Residential projects in Mumbai and is recognized for its superior quality construction and timely project delivery. The Company has extensive experience in construction management and has inherent skills and resources to develop and deliver Real estate projects. For more information, please visit www.maninfra.com
Safe Harbor
Any forward-looking statements about expected future events, financial and operating results of the Company are based on certain assumptions which the Company does not guarantee the fulfilment of. These statements are subject to risks and uncertainties. Actual results might differ substantially or materially from those expressed or implied. Important developments that could affect the Company’s operations include a downtrend in the industry, global or domestic or both, significant changes in political and economic environment in India or key markets abroad, tax laws, litigation, labour relations, exchange rate fluctuations, technological changes, investment and business income, cash flow projections, interest, and other costs. The Company does not undertake any obligation to update forward-looking statements to reflect events or circumstances after the date thereof.
