Man Infraconstruction Limited (MICL Group) said it has acquired development rights of Tardeo Court CHS and Tardeo Apartments CHS and has bought Sethna House at Tardeo under the Cluster Redevelopment scheme 33(9). The acquisition will be developed through Man Aaradhya Infraconstruction LLP, in which MICL Group holds about 50.5 per cent equity. The site comprises approximately 46,000 sq ft of plot area and is located in South Mumbai's billionaire address.

The company indicated the proposed Tardeo 2.0 project has an estimated sales potential exceeding Rs. 20 bn over the next four to five years and will augment the group’s ultra luxury portfolio. Together with the Aaradhya Avaan project and the Marine Lines development, the three South Mumbai projects represent an estimated sales potential exceeding Rs. 80 bn. The group described the acquisition as a continuation of its South Mumbai expansion strategy defined by scale, speed and market absorption.

MICL Group reported consolidated total income of Rs 12.31 billion and net profit of Rs 2.83 billion for the financial year ended 31 March 2025 and stated it was net cash positive at consolidated levels as on March 2025. The company said it operates two business verticals, construction and real estate development, and functions as an integrated engineering, procurement and construction company with nearly six decades of experience. It noted experience across port, residential, commercial, industrial and road construction segments and nationwide project execution.

The group said the Tardeo acquisition will be positioned at the ultra luxury end of the market and will seek to leverage its construction management and delivery capabilities to complete the project. It added that the project will be marketed and executed through the partnership vehicle and that the company will continue to pursue high value redevelopment opportunities in prime Mumbai locations.