MICL Group's associate company to redevelop 10-acre project

30 Aug 2023 CW Team

In a BSE filing, Royal Netra Constructions (RNCPL), a subsidiary of Man Infraconstruction (MICL Group), announced plans to reconstruct a project in the western suburbs of Mumbai with the potential to earn Rs. 4,000 crores in revenue over the following five years.

"The aforementioned project is spread over a 10-acre land parcel and will witness one of the largest redevelopments in the Mumbai market," the company's managing director Manan P. Shah stated.

The project has the potential to have a total construction area of more than 50 lakh square feet and a carpet area for sale of 1.7 million square feet. Within five to six years, it's supposed to be finished.

This transaction will improve our financial situation going forward, according to Shah, and it is in line with our asset-light strategy.

With this most recent addition, the real estate portfolio of MICL Group will grow from 4.6 million square feet to 6.3 million square feet of carpet area.

Infrastructure Transport

10 Oct 2025

Modi Launches Rs 318.5 Billion Projects in Maharashtra

Prime Minister Narendra Modi on Wednesday launched infrastructure projects worth Rs 318.5 billion during his two-day visit to Maharashtra, including two landmark developments — the first phase of the Rs 196.5 billion Navi Mumbai International Airport (NMIA) and the second phase of the Rs 122 billion Mumbai Metro Line 3. India’s first fully digitised airport, NMIA, has been designed for multimodal connectivity and is being developed under a public-private partnership between Adani Airport Holdings, which holds a 74 per cent stake, and the City and Industrial Development Corporation of Maha..

Tata Housing Sells Rs 10 Billion Homes in Bengaluru

Real estate developer Tata Housing on Wednesday announced that it has achieved home sales worth over Rs 10 billion in its newly launched residential project in Bengaluru, driven by strong demand. In a statement, the company said Tata Housing Varnam Phase I — part of the 135-acre integrated township Carnatica in North Bengaluru — has surpassed Rs 10 billion in sales since its launch in August 2025. Spread across 20 acres, Varnam Phase I has recorded sales of 377 units out of 582 apartments, along with 48 townhouses and row houses. The project has attracted substantial interest from both e..

OMRON to Train 1,000 Graduates Annually at Bengaluru Centre

Japanese industrial automation giant OMRON announced on Wednesday that it will train and skill 1,000 fresh engineering graduates annually at its newly launched Automation Centre in Bengaluru. The initiative aims to enhance India’s employable manufacturing talent and build a resilient, future-ready industrial ecosystem. Motohiro Yamanishi, President of the Industrial Automation Company at OMRON Corporation, said, “We see immense potential in the dynamism of India’s manufacturing sector. The new Automation Centre underscores India’s vital role in our global and Asia-Pacific vision. It i..