Man Infraconstruction Limited announced receipt of an intimation of disapproval from local municipal authorities for the redevelopment of Virgo CHS Limited at Pali Hill in Bandra West, Mumbai. The company described Pali Hill as one of Mumbai's most established luxury residential micro-markets, noted for enduring demand, strategic location and premium positioning. The managing director characterised the neighbourhood as part of the city's billionaire's row that attracts influential figures across business, arts and public life. The development will be positioned as a benchmark ultra-luxury address.

With receipt of the intimation, the company said it has crossed an important regulatory milestone and will proceed to demolition of the fully vacated residential site. Other requisite approvals are in progress and construction activities will commence thereafter, with a formal launch expected in the coming quarter. The project will be undertaken through Atmosphere Homes LLP, an associate entity in which Man Infraconstruction Group holds approximately 34 per cent stake. The company expects the project to benefit from strong absorption potential in the micro-market.

The company reported consolidated total income of Rs. 12.31 billion (bn) and net profit of Rs. 2.83 billion (bn) for the financial year ended 31 March 2025, and stated it was net cash positive at consolidated levels as on March 2025. The project has an estimated sale potential exceeding Rs. 5 billion (bn), positioning it as a high-value residential development in one of the city's most premium micro-markets. The development will be marketed as ultra-luxury and the company expects strong realisation prospects given the location and demand dynamics.

Man Infraconstruction is headquartered in Mumbai and operates two business verticals, construction and real estate development, drawing on nearly six decades of execution experience. The company said it has inherent skills and resources to manage construction and deliver specialised residential projects on schedule. Management indicated that the initiative aligns with a strategy of selective participation in high-entry-barrier micro-markets to create long-term stakeholder value. Further updates will be provided as regulatory processes advance and project milestones are achieved.