MAN INFRA LTD

Man Infraconstruction Limited (MICL) was incorporated on August 16, 2002 as a Private Limited Company with the name 'Man Construction Pvt. Ltd.' The Company converted into a Public Limited Company and its name was changed to Man Construction Limited on July 15, 2004. On November 3, 2006, the Company changed the name from 'Man Construction Limited' to 'Man Infraconstruction Limited'. Headquartered in Mumbai, the Company is engaged in the business of civil construction and has undertaken projects in the six States of Maharashtra, Kerala, Gujarat, West Bengal, Goa and Tamil Nadu. The operations of the Company is divided into two business verticals viz., Construction and Real Estate Development. The Company is an integrated EPC (Engineering, Procurement and Construction) company with over 50 years of experience in Port, Residential, Commercial & Industrial and Road construction segments with projects spanning across India. The Companys business is mix of Engineering, Procurement and Construction (EPC) & Asset Ownership/ Real Estate. Various development projects are executed by the Company and its subsidiaries/associates in and around Mumbai & Pune. The Company is engaged in civil construction services for port infrastructure, residential, industrial, commercial and road infrastructure projects. The company started as a contractor for port infrastructure, providing services which included construction of onshore terminals, container freight stations, operational buildings and workshops and gradually entered into contracting services in the residential and commercial space in the Mumbai market. In May 12, 2006, Pathare Real Estate and Developers Ltd became a wholly owned subsidiary of the company and in June 1, 2006, Pathare Real Estate and Developers Ltd merged with the company. In September 19, 2006, Man Infraproject Ltd became a subsidiary of the company. In November 9, 2006, Man Infraproject Ltd became a wholly owned subsidiary of the company and in December 2006, Man Infraproject Ltd merged with the company with effect from December 1, 2006. In August 30, 2007, the company acquired Man Projects Ltd as a subsidiary company, which was engaged in the construction and real estate business. During the year 2007-08, Company acquired 2,99,998 Equity Shares of Rs. 10/- each of Man Projects Limited (MPL) constituting approx. 60% of the Paid up share capital of MPL, and consequently, MPL became subsidiary of Company. During the year 2009, Company promoted a new Company under the name of 'Man Ajwani Infraconstruction Limited' (MAIL) in joint venture with Ajwani Infrastructure Private Limited (AIPL) for construction of E.W.S Housing Complex for Pimpri Chinchwad Municipal Corporation (PCMC). The said joint venture Company was incorporated on 24th March, 2009 with shares of the Company and AIPL to the extent of 64% and 36% respectively. During the year 2008-09, Company acquired 25000 Equity Shares of Rs. 10/- each of Man Projects Limited (MPL) in addition to 2,99,998 equity shares constituting approx. 65% of the paid up share capital of MPL. In October 1, 2009, the company incorporated Man Nirmal Infraconstruction Ltd as a subsidiary company, pursuant to a memorandum of understanding with Nirmal Lifestyle Realty Pvt Ltd for executing construction projects for Nirmal Lifestyle Realty Pvt Ltd and their affiliates and for bidding government or other projects. The Board of Directors recommended issue of Bonus Shares and the members in their meeting held on 5th October, 2009 approved the issue and allotment of Bonus Shares in the ratio of 1 New Equity Share for every 2 existing equity shares held by a member on 6th October, 2009 (Record date). Accordingly, 14,624,950 Equity Shares were allotted as Bonus shares on 7th October, 2009. During the year 2010-11, the Company acquired 4,296,625 (100%) Equity Shares of Rs 10/- each of Man Realtors and Holdings Private Limited (MRHPL), making it a wholly-owned subsidiary of the Company. Man Realtors and Holdings Private Limited, a wholly owned subsidiary of the Company; acquired 1,250 Equity Shares (45.45% of the paid-up Equity Share Capital) of Rs 100/- each of Man Chandak Developers Private Limited (MCDPL) on 6th May, 2011 and 2,250 Equity Shares (70% of the paid-up Equity Share Capital) of Rs 100/- each of Man Chandak Developers Private Limited on 23rd May, 2011 and accordingly, Man Chandak Developers Private Limited became a a step down subsidiary of the Company. On 1st October 2011, in order to streamline the structure of MCDPL, the Company acquired 3,500 Equity Shares of MCDPL aggregating to Rs 350,000 from Man Realtors and Holdings Pvt. Limited. Thus, on 1st October 2011, MCDPL became a direct subsidiary of the Company. On 3rd April, 2012, MCDPL issued and allotted new equity shares resulting in reduction of shareholding of the Company to 45%. Accordingly, MCDPL ceased to be a subsidiary of the Company w.e.f. 3rd April, 2012. Manaj Tollway Pvt. Limited was incorporated on 18th November, 2011 as a joint venture between Company and Ajwani Infrastructure Pvt. Limited (AIPL) holding 64% and 36% respectively, for undertaking four lanning to Hadapsar Saswad Belsar Phata Road, S.H. 64, at Taluka Purandar, District Pune and such other additional or incidental works on 'Design-Build-FinanceOperate-Transfer' (DBFOT) basis for Public Works Department' (PWD), Government of Maharashtra. On 17th May, 2012, the Company transferred 1% equity to Manaj Infraconstruction Limited; which is also a subsidiary of the Company. On 26th June 2012, Company acquired remaining 13000 (26%) equity shares from Nirmal group making Man Nirmal Infraconstruction Limited (MNIL) a wholly owned subsidiary of the Company. On 1st July, 2012, Man Realtors and Holdings Private Limited (MRHPL) got into a Partnership Firm, M/s. S. M. Developers, engaged in the business of real estate development and became 50% partner along with the then existing partners. On 3rd April, 2012, the Company issued and allotted fresh equity shares to existing shareholders as well as new applicants; resulting in reduction in shareholding of Man Infraconstruction Ltd. to 45%, consequent upon which MCDPL ceased to be a subsidiary of Man Infraconstruction Ltd. w.e.f. 3rd April, 2012. Further Man Infraconstruction Ltd. transferred 10 shares on 1st June, 2012 and 2,490 shares on 2nd July, 2012; resulting in reduction in its shareholding to 35%. On 3rd January, 2013, the Company acquired 50,000 Equity Shares of Rs 10 each constituting 100% of the total paid-up capital making AM Realtors Private Ltd. a wholly owned subsidiary of the Company. On 2nd December 2013, the name of the Company was changed from Man Nirmal Infraconstruction Limited to Man Aaradhya Infraconstruction Limited. The Company transferred 1000 shares (2%) of Man Aaradhya on 5th June, 2014; resulting in reduction in its shareholding to 98% and consequently, Man Aaradhya ceased to be a wholly owned subsidiary of the Company. On 1st April, 2014, the Company entered into a Limited Liability Partnership namely Manmantra Infracon LLP and became 63% partner along with the then existing partners. Thereafter, it acquired further 10% share in Manmantra and became 73% partner on 2nd April, 2014. Further, consequent upon admission of new partners on 29th April, 2014, the Company's share was diluted to 60%. On 30th September 2014, pursuant to Share Purchase and Shareholders Agreement executed with Wadhwagroup Holdings Private Limited, the Company diluted its investment in Atmosphere Realty Private Limited (ARPL) from 35% to 17.5% and as a result, ARPL ceased to be an Associate and became Joint Venture Company. During the year 2014-15, the Company diluted its stake in Man Projects Limited from 64% to 51%. During the FY 2016-17, the Company transferred 10,41,927 Equity Shares of MRHPL, resulting to reduction in its shareholding to 75.75% and accordingly, MRHPL ceased to be a wholly owned subsidiary of the Company, and is undertaking a redevelopment project at Naidu Colony, Ghatkoper (E), Mumbai. During the financial year 2017-18, the Company transferred 8,05,616 Equity Shares comprising of 18.75% voting rights of MRHPL, resulting to reduction in its shareholding to 66%. Man Chandak Realty LLP was incorporated to undertake Real Estate business in 2016-17. In 2018-19, the Company completed the construction of new buildings, 'Aaradhya Residency' in Ghatkopar West, Mumbai. It acquired 50% stake in Starcrete on April 2, 2019. MICL Builders LLP, Man Infra Contracts LLP, MICL Creators LLP, MICL Properties LLP, MICL Estates LLP, MICL Homes LLP and 3090 McDonald Ave, LLC (Step-down Subsidiary) became subsidiaries of the Company during the year 2021-22. The Company completed a residential project namely 'Aaradhya Signature' at Sion (West), Mumbai. In March, 2022, it launched all the 7 residential towers and 1 commercial tower, Aaradhya Square. During the year 2022, Man Chandak Developers LLP (where Man Infra holds 50%) in association with Shreepati Rise LLP launched a premium Residential project Insignia', at Vile Parle West, Mumbai In 2022-23, Company acquired 36% equity stake of Manaj Tollway Private Limited (MTPL) and it became a wholly owned subsidiary of the Company effective from October 12, 2022. It further acquired 2,45,000 Equity Shares representing 49% of the paid up equity share capital of Man Projects Limited (MPL) and MPL became wholly owned subsidiary of the Company effective from March 29, 2023. The Company launched the Aaradhya Parkwood' project measuring around 3 lakh square feet of carpet area, which is located near the Dahisar check-naka, launched an ultraluxury project in the vicinity of Juhu called Aaradhya Evoq' and further launched the Atmosphere Tower G', in Mulund West in 2023. 'Aaradhya Avaan' launched in October 2023 along the Mumbai harbour front in Tardeo. During the year 2023-24, Manmantra Infracon LLP ceased to be a subsidiary of the Company effective from April 28, 2023, on account of disposal of its entire partnership interest in the said LLP. In January 2024, Aaradhya OnePark launched in Ghatkopar East. The Company incorporated Atmosphere Homes LLP on February 06, 2024. In FY 2024-25, Manaj Tollway Private Limited and Man Projects Limited, wholly owned subsidiaries of the Company got merged with the Company from April 1, 2024, thus making the Scheme of Arrangement effective from February 11, 2025. The Company launched JadePark's' in Vile Parle, West. It also launched two new 35 storey towers at Aaradhya Parkwood' in Dahisar East in FY 2025.