Man Infraconstruction Limited (MICL Group) has announced a major expansion in South Mumbai with the acquisition of a new residential development in Tardeo. Named “Tardeo 2.0”, the project spans over 46,000 sq. ft. and carries an estimated sales potential exceeding ₹2,000 crore. This acquisition marks the Group’s third marquee landmark in the region, bringing the combined sales potential of its three major South Mumbai developments to over ₹8,000 crore.
Strategic Expansion in South Mumbai
MICL Group continues to strengthen its presence in the ultra-luxury real estate segment with its latest acquisition in Tardeo. The deal involves securing the development rights for Tardeo Court CHS and Tardeo Apartments CHS, alongside the outright purchase of Sethna House. This project is being executed under the Cluster Redevelopment scheme 33(9).
Project Details and Financial Impact
The upcoming “Tardeo 2.0” development is situated on one of South Mumbai’s most prestigious “Billionaires’ addresses.” The project is expected to generate sales potential exceeding ₹2,000 crore over the next 4–5 years. This development will be spearheaded by Man Aaradhya Infraconstruction LLP, a venture in which MICL Group maintains an approximately 50.5% equity stake.
Consolidated Portfolio Growth
This “hat-trick” of acquisitions in South Mumbai—comprising Aaradhya Avaan, the new Tardeo 2.0 project, and the Marine Lines development—collectively positions the group for significant growth, with an estimated combined sales potential of over ₹8,000 crore. As of the financial year ended March 31, 2025, the company reported a strong financial foundation with a total income of ₹1,231 crore and a net profit of ₹283 crore, maintaining its status as a net cash-positive organization.
Source: BSE
