Mumbai's real-estate market is entering a significant redevelopment cycle, creating opportunities as well as challenges for developers. Manan Shah, Managing Director, Man Infraconstruction (MICL Group), discusses the company's growth strategy, market outlook, financial discipline and execution priorities.

Where will MICL find its next phase of growth: deeper into Mumbai, larger redevelopment opportunities, new geographies or new asset classes?

Mumbai will continue to be the primary focus for MICL with substantial opportunities, particularly in redevelopment, commercial development and assets that can generate recurring rental income. We are also looking at the potential of Mumbai’s proposed rental housing policy. If implemented with additional FSI incentives, it could open up opportunities to develop both residential and commercial assets.

Our approach is to explore opportunities across different segments and income categories rather than restrict ourselves. We will continue to evaluate new asset classes and geographies, but Mumbai remains our immediate priority. The objective is to expand our portfolio while ensuring that every opportunity makes commercial sense and meets our execution standards.

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