Man Infraconstruction Limited has received an intimation of disapproval from local municipal authorities for the redevelopment of the Virgo CHS Limited site at Pali Hill in Bandra West, Mumbai. The development marks a regulatory milestone as the company advances plans for an ultra-luxurious residential project on a fully vacated site. Demolition will commence and construction activities will begin thereafter. The company said Pali Hill is one of Mumbai's most established luxury micro-markets with enduring demand and premium positioning, and it intends to position the redevelopment as a benchmark ultra-luxury address. The neighbourhood is regarded as part of the city's billionaire's row and has attracted influential personalities from business, arts and public life, supporting strong absorption potential. Management indicated the project aligns with a strategy of selective participation in high entry barrier micro-markets. The project is being developed through Atmosphere Homes LLP, an associate entity in which the company holds approximately 34 per cent, and is obtaining other requisite approvals. The company is gearing up for a formal launch in the coming quarter and will pursue pre-construction clearances in due course. The site has been fully vacated to allow demolition and subsequent construction to proceed. The project has an estimated sale potential exceeding Rs 5 billion (bn), making it a high value residential development in a premium micro-market. For the year ended 31 March 2025 the group reported consolidated total income of Rs 12.31 bn and net profit of Rs 2.83 bn and stated it was net cash positive at consolidated level as on March 2025. The company noted its two business verticals, construction and real estate development, and highlighted integrated engineering, procurement and construction capabilities developed over six decades. Management said the redevelopment is intended to strengthen presence in Bandra West and contribute to long term value creation for stakeholders.