MICL Group Secures Major South Mumbai Redevelopment Project with ₹2,000 Crore Revenue Potential
Mumbai, April 29, 2026: Man Infraconstruction Limited, popularly known as the MICL Group, has further cemented its presence in the premium real estate market by acquiring a significant new project in Tardeo, South Mumbai. The development, executed through the group’s entity Man Aaradhya Infraconstruction LLP, involves the acquisition of development rights for Tardeo Court CHS and Tardeo Apartments CHS, alongside the outright purchase of Sethna House. This massive undertaking will be developed under the Cluster Redevelopment scheme 33(9), targeting a sales potential of over ₹2,000 crore, the company said in a press release.
The new acquisition, dubbed “Tardeo 2.0,” spans a plot area of approximately 46,000 sq ft and is strategically positioned along South Mumbai’s prestigious “Billionaires’ address.” This move is expected to significantly bolster the group’s ultra-luxury portfolio over the next four to five years. The project will be managed by Man Aaradhya Infraconstruction LLP, a partnership in which the MICL Group maintains a controlling equity stake of approximately 50.5%.
Highlighting the importance of this milestone, Manan Shah, Managing Director of Man Infraconstruction Limited, said: “The Group’s South Mumbai journey is defined by scale, speed, and consistent market absorption. We are happy to have achieved a hat-trick in South-Mumbai with our latest acquisition at Tardeo. The new acquisition, ‘Tardeo 2.0’ comprising approximately 46,000+ sq. ft. of plot area is strategically located along South Mumbai’s celebrated Billionaires’ address, which will elevate the group’s ultra-luxury portfolio. The proposed development has an estimated sales potential exceeding ₹2,000 crore over the next 4–5 years. The Aaradhya Avaan project at Tardeo, the Tardeo 2.0 project, and the Marine Lines development; these three marquee South Mumbai projects together represent an estimated sales potential exceeding ₹8,000 crores.”
This latest venture marks a strategic expansion for MICL Group as it continues to capitalize on the high demand for luxury housing in the island city. By combining the Tardeo 2.0 project with its existing high-profile developments at Aaradhya Avaan and Marine Lines, the company has positioned itself as a dominant player in the South Mumbai redevelopment landscape, with a combined future revenue stream that underscores its aggressive growth trajectory in the luxury segment.
