Man Infraconstruction Limited · NSE:MANINFRA
Man Infraconstruction — Q1 FY26 Earnings Presentation
39 slides from Man Infraconstruction's earnings presentation, Aug 13, 2025
Slide 1: Stock exchange filing cover letter
EPC REAL ESTATE MAN INFRACONSTRUCTION LIMITED (CIN: L70200MH2002PLC136849) August 13, 2025 The Listing Department The Corporate Relationship National Stock Exchange of India Department Limited BSE Limited Exchange Plaza, Sandra Kurla Complex, Phiroze Jeejeebhoy Towers, Sandra (E), Mumbai - 400 051,
Slide 2: Investor Presentation – Q1 FY26
MAN INFRACONSTRUCTION LIMITED INVESTOR PRESENTATION – Q1 FY26 August 2025
Slide 3: Disclaimer
This presentation has been prepared by and is the sole responsibility of Man Infraconstruction Limited (the “Company” / “MICL”). By accessing this presentation, you are agreeing to be bound by the trailing restrictions. This presentation does not constitute or form part of any offer or invitation or
Slide 4: Group Overview, Business Model, Performance Snapshot, Company Financials
Group Overview 04 Business Model 16 Performance Snapshot 26 Company Financials 33 M A N INFRACONSTRUCTION LIMITED
Slide 5: Built with Ethics, Passion, Focused on Value Creation
[)UIL T WITH ETHICS. IJ ASS I 0 N. FOCUSED ON VALUE CREATION Artist's Impression M A N INFRACONSTRUCTION LIMITED
Slide 6: Years of experience in construction across the country
60+ 10+ Years of experience in Years of experience construction across in real estate the country development 50+ ~800 Mn. sq. ft. of real estate Workforce and infra construction Employment delivered 4,300+ Happy Families 5 M A N INFRACONSTRUCTION LIMITED
Slide 7: Awards and recognitions
2025 2023 2021 • Rising Star – Next Gen • Best Developer Redevelopment of Housing Society • Iconic Young Achiever MCHI Construction Excellence Awards 2025 Desi Homes & Realty Icon Awards 2023 The Times of India • Iconic Next-Gen Leader in Real Estate • Outstanding Contribution Towards the Economy •
Slide 8: The Inception, Ventured In, Founded MICL
1964 1991 2013 2020 MR. KISHORE SHAH MR. PARAG SHAH MR. MANAN SHAH MR. VATSAL SHAH Founder Chairman Emeritus, MICL Managing Director, MICL Director, MICL Global THE VENTURED IN FOUNDED MICL OVERSEES GLOBAL INCEPTION TO PORT INFR. REAL ESTATE OPERATIONS Mr. Kishore Shah laid 30+ years of solid Joined
Slide 9: Company milestones 1964 to 2010
Secured two landmark projects - executed using MIVAN technology • One of the largest township under Slum Rehab Scheme in Mumbai Mr. Parag Shah Man Construction • Residential complex, ‘Orchid Awarded the prestigious (son of Mr. Kishore Shah) Private Limited Woods’ comprising of three Government resid
Slide 10: Mr. Manan Shah joins the Company with a passion for real estate
Successful Launch of ‘Aaradhya Launch of ‘Aaradhya Avaan’ at OneEarth’ premium project in Tardeo – one of the India’s Ghatkopar East. tallest Residential towers Launch of Luxury Project, Launch of Aaradhya OnePark, Insignia, Vile Parle Ghatkopar (E) Mr. Manan Shah joins the Company with a Aaradhya O
Slide 11: Board of Directors
MR. BERJIS DESAI MR. ASHOK MEHTA Dr. KSHITIJA MS. KAVITA Chairman and Non – Whole - Time Director WADATKAR UPADHYAY Executive Director & CFO Independent Director Independent Director • A Master of Law from the • A qualified Chartered • PhD in Constitution & • A qualified Chartered University of Camb
Slide 12: Over 60 years of experience in infrastructure development and real estate
Over 60 years of experience in infrastructure development and real estate, driving consistent value creation. Developed 8 major ports across India – Navi Mumbai, Chennai, Gujarat - Pipava, Mundra and Kochi. Built over 200 hectares of ports, with another 100+ hectares under execution. Acted as EPC co
Slide 13: Built a niche in redevelopment projects
Built a niche in the field of redevelopment projects • Cluster, Private society, MHADA and SRA Delivered high-rises in record time < 3.5 – 4 years • Atmosphere O2, Mulund West (47 Storeys – 3 towers) • Aaradhya Highpark, Nr. Dahisar - (30 Storeys – 6 towers) • Aaradhya EastWind, Vikroli - (34 Storey
Slide 14: Before time completion, negligible inventory in completed projects
BEFORE TIME COMPLETION NEGLIGIBLE INVENTORY NEARLY 90% OF THE IN COMPLETED INVENTORY IS SOLD OUT Track record of delivering all 19 Projects Before Time before receipt of OC in all the (OC RECEIVED) PROJECTS Delivered 2.8 mn. sq. ft. of carpet area till date projects Completed projects at least 6 mon
Slide 15: Real Estate Portfolio
~₹9,500^ crore of total sales till Jun-25. ~2.3 Mn. Sq. ft. 2.5 Delivered 19 projects, all ahead of schedule. REAL of ongoing projects 2.8 ESTATE Commitment to quality and timely delivery. PORTFOLIO Partnering with leading architects and 4.8 mn sq. ft. projects ~2.5 Mn. Sq. ft. consultants. 2.3 of u
Slide 16: Key projects: Aaradhya Avaan, OnePark, Parkwood, JadePark
AARADHYA AVAAN AARADHYA ONEPARK PROJECT AT PROJECT AT 01 02 Ghatkopar (E) 03 Goregaon (W) 04 Marine Lines Tardeo Building one of India’s tallest residential Developing first of its kind 12,000+ sq mt Developing one of the largest Building India’s one of the tallest towers with height of over 1,000 f
Slide 17: Business Model
* r " A BUSINESS MODEL
Slide 18: EPC projects and real estate projects income streams
REAL ESTATE PROJECTS EPC PROJECTS DM FEE* OR EPC INTEREST EPC PMC^ EQUITY MARGIN MARGIN** MARGIN Or Fees MARGIN DM - Charged as % of In-house Engineering Funds infused into Includes margin on Port Charged for Professional sales from the project & Construction Projects as debt earns projects / Govt.
Slide 19: Real Estate Projects Model
REAL ESTATE PROJECTS MODEL Joint Society Joint Development Development Redevelopment Venture Manager (DM) Agreement (JDA) (Pvt./Mhada/SRA) Reduces Overall Initial Investment • Sales for projects executed under subsidiaries gets reflected in consolidated revenue in the financial statements • Sales fo
Slide 20: Ongoing Projects
ONGOING PROJECTS Sales / MICL Group’s Total Carpet Total Sales Real Estate Projects EPC Project Project Name Location Model DM Fees Stake Area Potential Income Streams Income Streams Recognition (Lakh sq. ft.) (₹ Cr.) DM Fee Equity Margin EPC Margin PMC Margin Aaradhya Ghatkopar, 60.00% Subsidiary ~
Slide 21: Upcoming Projects
UPCOMING PROJECTS MICL Group’s Total Carpet Total Sales Sales / DM Fees Real Estate Projects EPC Project Project Name Location Model Stake Area Potential Recognition Income Streams Income Streams (Lakh sq. ft.) (₹ Cr.) DM Fee Equity Margin PMC Margin Goregaon Royal Netra$ 33.32% JV ~17.5 ~4,000+ - -
Slide 22: Consolidated financials – PBT and Net Profit
Consolidated financials – Amount in (₹ Cr) PBT and PBT MARGIN NET PROFIT and NET PROFIT MARGIN 23.0% 24.6% 32.6% 32.54% 35.4% 18.6% 22.1% 29.2% 20.5% 13.3% 300 283 397 397 401 259 379 216 80 56 FY22 FY23 FY24 FY25 Q1FY26 FY22 FY23 FY24 FY25 Q1FY26 PBT PBT Margin Strong Focus on Margins as well as Pr
Slide 23: Consolidated financials – Cash and Net Debt/Equity
Consolidated financials – Amount in (₹ Cr) NET CASH POSITIVE BALANCE SHEET ZERO SECURED DEBT 0.1 -0.1 -0.4 -0.3 -0.3 741 641 570 513 228 308 123 91 29 0 Mar-22 Mar-23 Mar-24 Mar-25 Jun-25 Dec-22 Mar-23 Mar-24 Mar-25 Jun-25 Cash & cash Eq. Net Debt/Equity ratio (x) Maintaining Financial Prudence with
Slide 24: Fund Raise Details Status as on 31st July-25
FUND RAISE DETAILS STATUS as on 31st July-25 Received ₹512 crores via Funds earmarked for preferential route out of the • Expansion of EPC and real estate business total issue size of ₹543 crores • Purchase of Fixed Assets • Meeting working capital requirements Converted 3,24,16,100 equity Amount Ut
Slide 25: Funds raised, sales visibility, order book, liquidity, credit rating
Funds Raised Real Estate Sales Visibility** Real Estate projects portfolio EPC Order Book ₹512 Cr.* ~₹11,800+ Cr. 4.8 mn sq. ft. ~₹416 Cr. via preferential route Carpet Area Investments in Subsidiary Debt Status Liquidity Levels Credit Rating Upgrade Real Estate Projects Net Cash CARE A+, Stable ₹64
Slide 26: Expansion Strategy
Expansion Higher Sales Global (USA) Maintain strong Strategy Visibility Expansion liquidity & profitability • Real Estate • Expecting potential • Expanded Real Estate • Focus to be Net - Establishing presence increase in real estate Cash positive & in western suburbs of sales from ongoing & business
Slide 27: Performance Snapshot
i . i Jom PERFORMANCE SNAPSHOT ww §_
Slide 28: Area sold, sales value and collections
Area Sold Sales Value Collections 1.45 Lakh sq. ft. INR 492 Crs. INR 234 Crs. 27 M A N INFRACONSTRUCTION LIMITED
Slide 29: Ongoing project sales status as on Jun-25
As on Jun-25 Area sold Sr. MICL Group Units Sold In Units Sold as Units Total Carpet Area Sold in Area Date of Project Name Location Type Model Total Units as on No. Stake Q1 FY26 on Jun-25 Unsold area* Q1 FY26 Unsold Completion$ Jun-25 (JDA/JV/ (%) (nos.) (nos.) (nos.) (nos.) (sq ft.) (sq ft.) (sq
Slide 30: Upcoming projects launch details
As on Jun-25 MICL Group Type MICL's RERA Expected Launch Sr. No. Project Name Location Total Units Stake Model Carpet area^ Date* (%) (nos.) (sq ft.) 1 Royal Netra$ Goregaon West 33.32% Mix JV - ~17,50,000 - BKC, Bandra 2 Artek CHSL$ 34.00% Residential JV - ~1,60,000 FY26 East Pali Hill, Bandra 3 Vi
Slide 31: Completed projects: negligible unsold inventory, delivered before time
As on Jun-25 Completed time Sr. Total Units Units Total Carpet Carpet Area Carpet Area Project Completion Projects Towers Type Location Model before scheduled No. Units Sold Unsold Area Sold Unsold Timeline Date 1 Tower E, F, G, H & I Residential Own 325 325 0 3,23,370 3,23,370 0 14 Months Sep-20 -
Slide 32: US projects: ongoing, upcoming and completed
Ongoing Project Upcoming Projects Completed Project 551 Bayshore New Residential projects 3090 McDonald Avenue Artist Impression Actual Shot 1. Location: Coconut Grove, Miami, Florida, USA Size: Saleable area of ~ 8,000 sq. ft. Membership Interest: 50% Location : Fort Lauderdale, Florida, USA 2. Loc
Slide 33: EPC order book: infrastructure and residential
INFRASTRUCTURE RESIDENTIAL ~110 Hectares - Ports – BMCT ~3.8 Mn. sq. ft. of Construction Work* Actual Shot Artist's Impression JADEPARK, VILE PARLE Bmct Port – Phase 2, Artist's Impression Artist's Impression Nhava Sheva, Navi Mumvai Actual Shot AARADHYA AVAAN Atmosphere Tower G TARDEO Nahur, Mulund
Slide 34: Company Financials
— * " 1 : A COMPANY FINANCIALS
Slide 35: Consolidated quarterly financials
Particulars (Rs. Crs.) Q1 FY26 Q1 FY25 Q4 FY25 FY25 Revenue from operations 182.9 341.6 293.8 1,108.1 Real Estate 81.4 226.5 161.0 698.5 EPC 101.5 115.1 132.8 409.6 Other Income 43.2 26.8 34.0 123.2 Total Income 226.1 368.4 327.8 1,231.3 Total Expense 142.3 258.1 187.3 783.9 EBITDA excluding Other I
Slide 36: Consolidated Profit & Loss and balance sheet
Profit & Loss Statement (Rs. Crs.) Q1 FY26 FY25 FY24 FY23 FY22 Revenue from Operations 182.9 1,108.1 1,263.5 1,890.3 961.5 Other Income 43.2 123.2 96.8 47.9 201.2 Total Income 226.1 1,231.3 1,360.2 1,938.3 1,162.7 Total Expense 142.3 783.9 937.1 1,476.4 714.0 EBITDA excluding Other Income 40.6 324.2
Slide 37: Standalone quarterly financials
Particulars (Rs. Crs.) Q1 FY26 Q1 FY25 Q4 FY25 FY25 Revenue from operations 99.5 107.6 130.8 394.7 Other Income 50.3 21.5 33.8 123.4 Total Income 149.7 129.2 164.6 518.1 Total Expense 72.6 70.3 110.1 304.0 EBITDA excluding Other Income 26.9 37.3 20.7 90.8 EBITDA Margin (%) 27.0% 34.7% 15.9% 23.0% De
Slide 38: Standalone Profit & Loss and balance sheet
Profit & Loss Statement (Rs. Crs.) Q1 FY26 FY25 FY24* FY23 FY22 Revenue from Operations 99.5 394.7 708.3 797.8 236.6 Other Income 50.3 123.4 125.3 83.2 75.3 Total Income 149.7 518.1 833.6 881.0 311.9 Total Expense 72.6 304.0 550.1 660.9 175.5 EBITDA excluding Other Income 26.9 90.8 158.2 136.9 61.1
Slide 39: Thank You
MAN INFRACONSTRUCTION LIMITED THANK YOU INVESTOR RELATIONS Company : MICL Go India Advisors Name : Mr. Yashesh Parekh Name : Mr. Rajat Gupta Tel : +91-8108321555 Tel : +91-9971897739 Email : Yashesh@maninfra.com Email : rajat@goindiaadvisors.com
Man Infraconstruction — Q1 FY26 Earnings Presentation on 6ix