Man Infraconstruction Limited · NSE:MANINFRA
Man Infraconstruction — Investor Presentation (June 2026)
145 slides from Man Infraconstruction's investor presentation, Jun 5, 2026
Slide 1: Investor Presentation filing letter to exchanges
EPC REAL ES TATE MAN I NFRACONSTRUCTION LIM ITED (CIN: L70200MH2002PLC136849) Date: June 05, 2026 To, To, The Listing Department The Corporate Relationship Department National Stock Exchange of India BSE Limited Limited P. J. Towers, Dalal Street, Exchange Plaza, Bandra Kurla Complex, Mumbai - 400 0
Slide 2: Welcome to The Vision Beyond Horizons
WELCOME TO THE VISION BEYOND HORIZONS DATE: 5TH JUNE 2026
Slide 3: Before we built homes we helped build the nation
BEFORE WE BUILT HOMES WE HELPED BUILD THE NATION.
Slide 4: Slide 4
Slide 5: Mr. Kishore Shah - The Foundation
THE FOUNDATION MR. KISHORE SHAH Founder Man Infraconstruction Limited 1964 THE INCEPTION A civil engineer and the 1ˢᵗ generation entrepreneur of the Group Predominantly engaged in industrial and civil contracting works Created a platform with strong foundation for future growth
Slide 6: Mr. Parag Shah - The Breakthrough
THE BREAKTHROUGH MR. PARAG SHAH Chairman Emeritus Man Infraconstruction Limited 1991 VENTURED INTO PORT INFRA Built India's 1st private port in 1997 at Nhava Sheva, JNPT Pioneered Mivan techonology for large-scale housing India's 1st Transhipment Terminal, Kochi Won largest EPC port orders in India
Slide 7: Before skylines trusted us, India's coastlines did
For over six decades, MICL has operated in places where precision was non-negotiable. PORTS | INFRASTRUCTURE | REAL ESTATE Before skylines trusted us, India’s coastlines did.
Slide 8: Legacy: It began in 1964
LEGACY IT BEGAN IN 1964.
Slide 9: 60+ million sq.ft construction area completed
60+ million CONSTRUCTION AREA COMPLETED sq.ft EPC + REAL ESTATE
Slide 10: 60+ projects delivered
60+ projects DELIVERED EPC + REAL ESTATE
Slide 11: 20,000+ units completed
20,000+ units COMPLETED EPC + REAL ESTATE
Slide 12: Ports delivered
8 ports DELIVERED
Slide 13: 40+ awards and counting
40+ awards AND COUNTING
Slide 14: The Breakthrough: Port Infrastructure EPC Projects
CHAPTER 01 THE BREAK- THROUGH PORT INFRASTRUCTURE EPC PROJECTS
Slide 15: Mr. Manojkumar Agarwal
CHAPTER 01 THE BREAK THROUGH MR. MANOJKUMAR AGARWAL Vice President – Projects Man Infraconstruction Limited WITH MICL SINCE 2000 Ground-up execution for 20 years before ascending to senior leadership Drove multinational projects to international standards — on time, every time
Slide 16: Port infrastructure: hectares completed and ongoing
CHAPTER 01 THE BREAK THROUGH PORT INFRASTRUCTURE COMPLETED ONGOING 250+ 100+ HECTARES HECTARES
Slide 17: Nhava Sheva International Container Terminal
CHAPTER 01 EPC PROJECTS THE BREAK THROUGH PORT INFRASTRUCTURE INDIA’S 30Ha FIRST NHAVA SHEVA PRIVATE INTERNATIONAL D P WORLD CONTAINER PORT JNPT, MUMBAI TERMINAL 1997
Slide 18: Chennai Container Terminal
CHAPTER 01 EPC PROJECTS THE BREAK THROUGH PORT INFRASTRUCTURE 15Ha CHENNAI CONTAINER D P WORLD TERMINAL (CCT) CHENNAI 2002
Slide 19: Mundra International Container Terminal
CHAPTER 01 EPC PROJECTS THE BREAK THROUGH PORT INFRASTRUCTURE 23Ha MUNDRA INTERNATIONAL D P WORLD CONTAINER TERMINAL MUNDRA , GUJARAT 2003
Slide 20: Gateway Terminals India
CHAPTER 01 EPC PROJECTS THE BREAK THROUGH PORT INFRASTRUCTURE 50Ha GATEWAY AP MOLLER/ TERMINALS MAERSK INDIA PVT LTD (GTI) JNPT, MUMBAI 2005
Slide 21: International Container Transhipment Terminal Kochi
CHAPTER 01 EPC PROJECTS THE BREAK THROUGH PORT INFRASTRUCTURE 30Ha INTERNATIONAL CONTAINER D P WORLD TRANSHIPMENT TERMINAL KOCHI 2007
Slide 22: Gujarat Pipavav Port
CHAPTER 01 EPC PROJECTS THE BREAK THROUGH PORT INFRASTRUCTURE GUJARAT PIPAVAV PORT LTD. AP MOLLER/ MAERSK PIPAVAV, GUJARAT 30Ha 2015
Slide 23: Bharat Mumbai Container Terminals Ph.1
CHAPTER 01 EPC PROJECTS THE BREAK THROUGH PORT INFRASTRUCTURE BHARAT MUMBAI CONTAINER TERMINALS PH.1 (BMCT) PORT OF SINGAPORE AUTHORITY (PSA) 100Ha JNPT, MUMBAI 2016
Slide 24: Bharat Mumbai Container Terminal - Terminal 4
2022- 2026 BHARAT MUMBAI ₹1,800+ Cr ONGOING CONTAINER TERMINAL — TERMINAL 4 CONTRACT VALUE WORKS PSA JNPT, MUMBAI 110Ha 90%+ EXECUTED
Slide 25: Port EPC totals: 350+ Ha developed
CHAPTER 01 EPC PROJECTS THE BREAK THROUGH PORT INFRASTRUCTURE COMPLETED ONGOING & 350+ Ha WORKS TOTAL AREA DEVELOPED ₹3,500+ Cr TOTAL WORK VALUE EXECUTED
Slide 26: Multi-sector EPC works
CHAPTER 01 THE BREAK THROUGH MULTI-SECTOR EPC WORKS THE GROUP CREATED LANDMARK PROJECTS IN VARIOUS SECTORS. COMMERCIAL INSTITUTIONS PROJECTS & HOSPITALS PUBLIC INDUSTRIAL RESIDENTIAL & INFRA LIFESTYLE HOMES & IT TOWNSHIPS REPRESENTATIVE IMAGES
Slide 27: Mr. Ravindra Yevale
CHAPTER 01 THE BREAK THROUGH MR. RAVINDRA YEVALE Vice President – Engineering Man Infraconstruction Limited WITH MICL SINCE 1999 End-to-end ownership — planning to possession Expert in budgeting, contracts, compliance & stakeholder management Drives operational efficiency across residential & mixed-
Slide 28: Strength of EPC business
CHAPTER 01 THE BREAK THROUGH STRENGTH OF EPC BUSINESS BACKED BY 500+ ENGINEERS
Slide 29: Trusted by India's leading infra companies and developers
CHAPTER 01 THE BREAK THROUGH QUALITY IN-HOUSE 01 & ON-TIME 02 PLANT & 05 VALUE ENGINEERING DELIVERY EQUIPMENT protecting margins marquee clients come minimal when the unexpected back, every time subcontracting, hits maximum control TRUSTED BY INDIA'S LEADING END-TO- RIGOROUS 03 END EPC 04 PROJECT CA
Slide 30: Residential buildings and townships
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS COMPLETED PROJECTS RESIDENTIAL BUILDINGS AND TOWNSHIPS UNDER EPC
Slide 31: Kohinoor Residency
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS KOHINOOR RESIDENCY Kohinoor Planet Constructions Pvt. Ltd. 0.30 Million Sq.Ft.
Slide 32: Blue Ridge
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS BLUE RIDGE Flagship Infrastructure Pvt. Ltd. 1.68 Million Sq.Ft.
Slide 33: Anandam City
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS ANANDAM CITY Godrej Properties Limited 1.33 Million Sq.Ft.
Slide 34: SRA Township
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS SRA TOWNSHIP DB Realty 7.32 Million Sq.Ft.
Slide 35: PCMC EWS
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS PCMC EWS Pimpri Chinchwad Municipal Corporation 2.46 Million Sq.Ft.
Slide 36: Orchid Woods
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS ORCHID WOODS DB Realty 1.95 Million Sq.Ft.
Slide 37: Tata Housing Rehab
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS TATA HOUSING REHAB Tata Housing Development Co. Ltd. 0.86 Million Sq.Ft.
Slide 38: Ambrosia and many more
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS AMBROSIA AND MANY MORE Park View Developers PRESTIGIOUS 0.46 Million Sq.Ft. PROJECTS.............
Slide 39: Commercial buildings and institutions
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS COMPLETED PROJECTS COMMERCIAL BUILDINGS AND INSTITUTIONS UNDER EPC
Slide 40: Kohinoor Commercial Complex
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS KOHINOOR COMMERCIAL COMPLEX Kohinoor Planet Constructions Pvt. Ltd. 0.36 Million Sq.Ft.
Slide 41: Sai Complex
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS SAI COMPLEX Shirdi Nagar Panchayat 0.07 Million Sq.Ft.
Slide 42: Ramsheth Thakur International Sports Complex
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS RAMSHETH THAKUR INTERNATIONAL SPORTS COMPLEX Thakur Infraprojects Pvt. Ltd. 0.10 Million Sq.Ft.
Slide 43: Kohinoor Hospital
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS KOHINOOR HOSPITAL Kohinoor Hospital Trust 0.25 Million Sq.Ft.
Slide 44: Godfrey Phillips Factory Shed
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS GODFREY PHILLIPS FACTORY SHED Godfrey Phillips India Ltd. 0.52 Million Sq.Ft.
Slide 45: Gigaplex IT Park
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS GIGAPLEX IT PARK B Raheja Builders Pvt. Ltd. 0.52 Million Sq.Ft.
Slide 46: Airtel Mobile Switching & Data Centre
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS AIRTEL MOBILE SWITCHING & DATA CENTRE Bharati Airtel Ltd. 0.06 Million Sq.Ft.
Slide 47: Jindal Stainless Steelway Factory
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS JINDAL STAINLESS STEELWAY FACTORY Jindal Stainless Steelway Ltd. 0.08 Million Sq.Ft.
Slide 48: Elite clients, enduring trust
CHAPTER 01 MULTI-SECTOR THE BREAK THROUGH EPC WORKS ELITE CLIENTS ENDURING TRUST
Slide 49: Mr. Ashok Mehta
CHAPTER 01 THE BREAK THROUGH MR. ASHOK MEHTA Executive Director & Group CFO Man Infraconstruction Limited WITH MICL SINCE 2008 Qualified Chartered Accountant with 40+ years of experience in India and abroad Played the anchoring role in MICL’s IPO listing in 2010 Oversees all finance, accounting, tax
Slide 50: The Listing: IPO March 2010
CHAPTER 01 FINANCIAL DISCIPLINE THE BREAK THROUGH THE LISTING MARCH 2010 ₹ 142 CR 62X MICL IPO SIZE LISTED ON LISTS BSE & NSE OVERSUBSCRIBED MARCH 2010
Slide 51: Financial discipline: returned to shareholders since IPO
CHAPTER 01 FINANCIAL DISCIPLINE THE BREAK THROUGH THE LISTING ₹400+ CR RETURNED TO SHAREHOLDERS SINCE IPO IN 2010 DIVIDENDS DELIVERED, YEAR AFTER 22%* PROFITS RETURNED TO SHAREHOLDERS CONSISTENTLY YEAR 16 YRS NOT ONE MISSED FROM 2010-2026 *Total dividends paid ÷ cumulative consolidated PAT. Up to Ma
Slide 52: The real rise begins
CHAPTER 02 THE REAL RISE BEGINS FINANCIAL DISCIPLINE THE OPPORTUNITY
Slide 53: Execution gap
CHAPTER 02 FINANCIAL DISCIPLINE THE REAL RISE BEGINS THE OPPORTUNITY EXECUTION GAP Homebuyers needed trusted developer who can deliver timely
Slide 54: Redevelopment wave
CHAPTER 02 FINANCIAL DISCIPLINE THE REAL RISE BEGINS THE OPPORTUNITY REDEVELOPMENT WAVE Societies & Landowners seeking redevelopment, needed a financially strong and execution-ready partner
Slide 55: Premium segment underserved
CHAPTER 02 FINANCIAL DISCIPLINE THE REAL RISE BEGINS THE OPPORTUNITY PREMIUM SEGMENT UNDERSERVED Mumbai’s prestigious addresses had only few credible developers, creating room for quality focused new developers
Slide 56: The market needed someone different
THE MARKET NEEDED SOMEONE DIFFERENT
Slide 57: Slide 57
Slide 58: We had exactly what was needed: financial strength
CHAPTER 02 FINANCIAL DISCIPLINE THE REAL RISE BEGINS THE OPPORTUNITY WE HAD EXACTLY WHAT WAS NEEDED. FINANCIAL STRENGTH 2012-2014 ₹120+ CR AFTER PEAK ZERO ₹190+ CR LIQUIDITY NET DEBT INVESTMENT IN MULUND PROJECT Source: MICL corporate records · Annual Reports
Slide 59: People and in-house EPC capability
CHAPTER 02 FINANCIAL DISCIPLINE THE REAL RISE BEGINS THE OPPORTUNITY WE HAD EXACTLY WHAT WAS NEEDED. PEOPLE & IN-HOUSE EPC EXECUTION CAPABILITY EXPERIENCED TEAM. OWN EXECUTION-READY CONSTRUCTION FROM DAY ONE EQUIPMENT Source: MICL corporate records · Annual Reports
Slide 60: We had exactly what was needed
CHAPTER 02 FINANCIAL DISCIPLINE THE REAL RISE BEGINS THE OPPORTUNITY WE HAD EXACTLY WHAT WAS NEEDED. Source: MICL corporate records · Annual Reports
Slide 61: Slide 61
Slide 62: Mr. Manan Shah: Carrying forth the legacy
“CARRYING FORTH THE LEGACY, BUILDING FOR THE FUTURE” MR. MANAN SHAH Managing Director Man Infraconstruction Limited Spearheading the business since 2013 with a vision to diversify & grow in the real estate space
Slide 63: Media coverage
MEDIA COVERAGE MAN INFRACONSTRUCTION LIMITED
Slide 64: Awards & recognition
ET NOW REALTY CONCLAVE TIMES REAL ESTATE & AWARDS 2026 CONCLAVE 2025 Iconic Developer Iconic Developer of the Year of the Year Luxury Project of the Year AWARDS & RECOGNITION 40+ AWARDS & CREDAI MCHI 2026 MCHI CONSTRUCTION EXCELLENCE AWARDS 2025 COUNTING The Builders of Rising Star - Legacy & Next G
Slide 65: The dawn of a new era
CHAPTER 03 THE DAWN OF A NEW ERA THE FUTURE
Slide 66: Project milestones: real estate
CHAPTER 03 THE JOURNEY THE DAWN OF A NEW ERA SO FAR 12+ 8.0 ₹10,800+ YEARS MILLION SQ.FT. PROJECT of Operational Construction Area CRORES Sales MILESTONES Excellence Delivered Generated REAL ESTATE ₹8,075+ (INDIA) 20 PROJECTS 3.1 MILLION SQ.FT. CRORES All Delivered Carpet Area Total Before Time Deli
Slide 67: Boutique estate
CHAPTER 03 REAL ESTATE THE DAWN OF A NEW ERA INDIA COMPLETED PROJECTS BOUTIQUE ESTATE
Slide 68: Ghatkopar East (G+7)
CHAPTER 03 REAL ESTATE THE DAWN OF A NEW ERA INDIA GHATKOPAR - EAST G+7 | 2 & 3 Bed Residences Year of Launch Feb 2015 Year of Completion Oct 2016 15 MONTHS DELIVERY TIME
Slide 69: Ghatkopar East (G+12)
CHAPTER 03 REAL ESTATE THE DAWN OF A NEW ERA INDIA GHATKOPAR - EAST G+12 | 2 & 3 Bed Residences Year of Launch Aug 2015 Year of Completion May 2016 15 MONTHS DELIVERY TIME
Slide 70: New age community
CHAPTER 03 REAL ESTATE THE DAWN OF A NEW ERA INDIA COMPLETED PROJECTS NEW AGE COMMUNITY
Slide 71: Mulund West (3 towers)
CHAPTER 03 REAL ESTATE MULUND - WEST THE DAWN OF A NEW ERA INDIA G+4 podium +43 | 3 Towers | 2, 2.5 & 3 Bed Residences Year of Launch JAN 2015 Year of Completion FEB 2019 49 MONTHS DELIVERY TIME
Slide 72: Mulund West (G+4 podium + 48)
CHAPTER 03 REAL ESTATE MULUND - WEST THE DAWN OF A NEW ERA INDIA G + 4 Podium + 48 2 , 2.5 & 3 Bed Residences Year of Launch NOV 2019 Year of Completion SEP 2024 59 MONTHS DELIVERY TIME
Slide 73: Mira Road East
CHAPTER 03 REAL ESTATE MIRA ROAD - EAST THE DAWN OF A NEW ERA INDIA G + 4 Podium + 30 | 6 Towers 1 , 2 & 3 Bed Residences | Commercial Year of Launch SEP 2018 Year of Completion MAR 2024 49 * MONTHS DELIVERY TIME * For Towers A,B,C,D & Aaradhya Primus
Slide 74: Ghatkopar East (14 towers)
CHAPTER 03 REAL ESTATE GHATKOPAR - EAST THE DAWN OF A NEW ERA INDIA B3 + G + 16 | 14 Tower 2 , 3 & 4 Bed Residences Year of Launch SEP 2020 Year of Completion JAN 2024 47 * MONTHS DELIVERY TIME * For Towers A,B,C,D & Aaradhya Primus
Slide 75: Ultra luxury
CHAPTER 03 REAL ESTATE THE DAWN OF A NEW ERA INDIA COMPLETED PROJECTS ULTRA LUXURY
Slide 76: Sion West
CHAPTER 03 REAL ESTATE THE DAWN OF A NEW ERA INDIA SION - WEST G + 4 Podium + 15 | 3 & 4 Bed Residences Year of Launch OCT 2015 Year of Completion FEB 2018 30 MONTHS DELIVERY TIME
Slide 77: Vile Parle West
CHAPTER 03 REAL ESTATE VILE PARLE - WEST THE DAWN OF A NEW ERA INDIA G+14 | 2 & 3 Bed Residences Year of Launch FEB 2021 Year of Completion MAY 2023 26 MONTHS DELIVERY TIME
Slide 78: Juhu
CHAPTER 03 REAL ESTATE JUHU THE DAWN OF A NEW ERA INDIA G+12 | 3, 4 & 4.5 Bed Residences Year of Launch APR 2022 Year of Completion Sep 2024 29 MONTHS DELIVERY TIME
Slide 79: Commercial
CHAPTER 03 REAL ESTATE THE DAWN OF A NEW ERA INDIA COMPLETED PROJECTS COMMERCIAL
Slide 80: Mulund West commercial office
CHAPTER 03 REAL ESTATE THE DAWN OF A NEW ERA INDIA MULUND - WEST G + 1 Retail + 17 | Commerical Office Year of Launch Apr 2020 Year of Completion July 2024 51 MONTHS DELIVERY TIME
Slide 81: Ghatkopar East commercial office (B3+G+13)
CHAPTER 03 REAL ESTATE THE DAWN OF A NEW ERA INDIA GHATKOPAR - EAST B3 + G + 13 | Commerical Office Year of Launch SEP 2020 Year of Completion Mar 2024 47 MONTHS DELIVERY TIME
Slide 82: Mira Road East commercial office
CHAPTER 03 REAL ESTATE MIRA ROAD - EAST THE DAWN OF A NEW ERA INDIA G+4 | Commerical Office Year of Launch Year of Completion 34 MONTHS DELIVERY TIME JAN 2020 NOV 2022
Slide 83: Ghatkopar East commercial office (G+14)
CHAPTER 03 REAL ESTATE THE DAWN OF A NEW ERA INDIA GHATKOPAR - EAST G + 14 | Commerical Office Year of Launch Sep 2020 Year of Completion Jan 2023 37 MONTHS DELIVERY TIME
Slide 84: Our impeccable delivery track record
OUR IMPECCABLE DELIVERY TRACK RECORD
Slide 85: Delivery track record: 20/20 projects
CHAPTER 03 REAL ESTATE THE DAWN OF A NEW ERA INDIA DELIVERY TRACK 20/20 6-30 RECORD PROJECTS COMPLETED MONTHS EARLY BEFORE SCHEDULE ACROSS ALL PROJECTS “Timely Delivery is in our DNA”
Slide 86: 8.0 mn sq.ft delivered
CHAPTER 03 REAL ESTATE THE DAWN OF A NEW ERA INDIA DELIVERY TRACK RECORD 8.0 MN 3.1 MN SQ.FT CONSTRUCTION SQ.FT CARPET AREA AREA DELIVERED (MAR -26) DELIVERED
Slide 87: Sales velocity
CHAPTER 03 REAL ESTATE THE DAWN OF A NEW ERA INDIA SALES VELOCITY ~90% ~100% INVENTORY SOLD PRIOR INVENTORY SOLD ACROSS TO OC ALL COMPLETED PROJECTS “Buyers don’t wait - they book before we complete”
Slide 88: Growth ambition: Vision 2031
CHAPTER 04 GROWTH AMBITION VISION 2031
Slide 89: Why Mumbai
WHY MUMBAI
Slide 90: India RE: Mumbai unmatched
CHAPTER 04 WHY MUMBAI GROWTH, AMBITION 01/04 VISION 2031 SALES SHARE UNMATCHED TOP 7 CITIES, CY 2025 INDIA MARKET SHARE RE Chennai 6% Hyderabad MMR MUMBAI. 11% 32% 2X 32% INDIA’S #1 RESIDENTIAL MMR’S TO THE NEXT MARKET NCR 14% SHARE LARGEST MARKET Pune Bengaluru 17% 16% Source: Anarock Pan-India Res
Slide 91: Mumbai average realization
CHAPTER 04 WHY MUMBAI GROWTH, AMBITION 02/04 VISION 2031 UNMATCHED AVG REALIZATION ₹/SQ FT — Q1 2026 REALISATION INDIA ₹17,500+ RE 20,000 ₹/sqft MUMBAI. 15,000 PSF AT MMR INDIA’S #1 RESIDENTIAL MARKET 10,000 ~2X 5,000 PSF PAN INDIA AVERAGE PAN-INDIA RESIDENTIAL SALES 0 ta ai ne R R ad ru C M nn a u
Slide 92: Luxury is no longer niche
CHAPTER 04 WHY MUMBAI GROWTH, AMBITION 03/04 VISION 2031 BUDGET SEGMENTATION SHIFT 60% → 32% AFFORDABLE SHARE INDIA CY2021 VS CY2025 RE → 2025 Affordable <₹75L Mid ₹75L–1.5Cr High-end ₹1.5–2.5Cr LUXURY Luxury ₹2.5–4Cr Ultra-luxury >₹4Cr 2021 IS NO CY 2025 LONGER → 20% LUXURY SHARE NICHE 2% → 2025 CY
Slide 93: Luxury fastest growing segment
CHAPTER 04 WHY MUMBAI GROWTH, AMBITION 03/04 VISION 2031 BUDGET SEGMENTATION SHIFT LUXURY CAGR INDIA CY2021 VS CY2025 28% → 30% RE Affordable <₹75L Mid ₹75L–1.5Cr High-end ₹1.5–2.5Cr → 2025 Luxury ₹2.5–4Cr Ultra-luxury >₹4Cr LUXURY 2021 IS NO CY 2025 FASTEST GROWING SEGMENT LONGER NICHE 2X of 15% CY
Slide 94: The buyer has permanently upgraded
CHAPTER 04 WHY MUMBAI GROWTH, AMBITION 04/04 VISION 2031 AVERAGE UNIT SIZE (SQ FT) PAN-INDIA AVG UNIT SIZE INDIA 2021 VS 2025 1,180 → 1,657 RE 2025 2021 THE Kolkata ₹ PER SQ.FT. BUYER HAS Chennai PERMANENTLY +40% Hyderabad UPGRADED Pune Bengaluru IN 4 YEARS Bigger homes. Higher budgets. NCR Amenitie
Slide 95: How MICL is unique
HOW MICL IS UNIQUE
Slide 96: We win projects
we te
Slide 97: Why societies and landowners choose MICL
CHAPTER 04 BUSINESS MODEL HOW MICL IS UNIQUE 01/03 01TRACK RECORD 20/20 02 MANAGEMENT CONNECT DIRECT WE WIN PROJECTS DELIVERED BEFORE TIME SENIOR LEADERSHIP PERSONALLY MEETS EVERY SOCIETY & LANDOWNER LAND WITHOUT BUYING IT Four reasons why societies and landowners 03 FINANCIAL STRENGTH ₹686 CR 04 DE
Slide 98: Acquisition discipline
CHAPTER 04 BUSINESS MODEL HOW MICL IS UNIQUE 02/03 ACQUISITION DISCIPLINE 01 REALISTIC PRICE ASSUMPTION 02 NO OVER- COMMITMENT 03 IRR THRESHOLD Every deal must ENTERS pass through seven Achievable realization Free sale · rent · Management- DEAL per micro-market — corpus calibrated to defined hurdle
Slide 99: Every deal earns its place
04 05 06 07 MICL APPROVED COLLABORATION VALUE PHASED CAPITAL IN-HOUSE EPC TO DE-RISK ENGINEERING COMMITMENT ADVANTAGE PROJECT DM or JV preferred — Construction costs Capital in tranches — Construction margin shared risk, aligned stress-tested before exposure controlled at stays within MICL — incenti
Slide 100: Real estate projects: multiple income streams
CHAPTER 04 BUSINESS MODEL HOW MICL IS UNIQUE 03/03 01 EQUITY MARGIN 02 DM FEE TWO SEGMENTS. Subsidiary→ Full revenue in P&L Charged as % of GDV JV → Share of Profit → PAT MULTIPLE INCOME REAL ESTATE STREAMS. PROJECTS 03 EPC MARGIN 04 INTEREST MARGIN Earns Construction Earns interest on Margin due to
Slide 101: Infra projects: EPC and PMC income
CHAPTER 04 BUSINESS MODEL HOW MICL IS UNIQUE 03/03 01 EPC MARGIN- INFRA PROJECTS TWO SEGMENTS. Earns Margin on Work Order Awarded to MICL MULTIPLE INCOME STREAMS. PROJECTS EPC 02 PMC FEES PMC — Pure Fee Income on Construction Cost *DM Fee = Development Management Fee · PMC = Professional Management
Slide 102: The acquisition journey
THE ACQUISITION JOURNEY
Slide 103: Real estate: the masterpieces
REAL ESTATE THE MASTERPIECES Pali Hill, Vile Parle West BKC Marine Lines, Tardeo, Tardeo, Mulund West Off Bandstand, Juhu 60 Feet, Near Dahisar Bandra West Bandra East South Mumbai South Mumbai South Mumbai Bandra West Ghatkopar East
Slide 104: Residential & commercial developments
REAL ESTATE PROJECTS RESIDENTIAL & COMMERCIAL DEVELOPMENTS COMPLETED PROJECTS ON-GOING RESIDENTIAL PROJECTS Artek Park – BKC Aaradhya EVOQ Aaradhya Nine Jade Park - Vile Parle (West) The Gateway Atmosphere Ph 1 Aaradhya One Park – Ghatkopar (East) Aaradhya HighPark Aaradhya Signature Aaradhya Avaan
Slide 105: From suburbs to skylines: Origins
CHAPTER 04 AQUSITION LOCATION HOW MICL IS UNIQUE JOURNEY STRATEGY ORIGINS FROM SUBURBS ▸ Mulund TO SKYLINES ▸ Vikhroli ▸ Ghatkopar (Standalone) ▸ Sion A deliberate, decade- long march into Mumbai's most prestigious addresses. EVERY ADDRESS COMMANDS MORE RESPECT. Note: All projects are in Mumbai SRA
Slide 106: From suburbs to skylines: Communities
CHAPTER 04 AQUSITION LOCATION HOW MICL IS UNIQUE JOURNEY STRATEGY COMMUNITIES ▸ Dahisar FROM SUBURBS ▸ Mulund (Phase 2&3) TO SKYLINES ▸ Ghatkopar (Cluster) A deliberate, decade-long march into Mumbai's most prestigious addresses. A deliberate, decade- long march into Mumbai's most prestigious addres
Slide 107: From suburbs to skylines: SRA
CHAPTER 04 AQUSITION LOCATION HOW MICL IS UNIQUE JOURNEY STRATEGY SRA ▸ Goregaon W FROM SUBURBS TO SKYLINES A deliberate, decade-long march into Mumbai's most prestigious addresses. A deliberate, decade- long march into Mumbai's most prestigious addresses. EVERY ADDRESS COMMANDS MORE RESPECT. Note:
Slide 108: From suburbs to skylines: Luxury
CHAPTER 04 AQUSITION LOCATION HOW MICL IS UNIQUE JOURNEY STRATEGY LUXURY FROM SUBURBS TO SKYLINES ▸ Juhu ▸ Vile Parle A deliberate, decade-long ▸ BKC, Bandra march into Mumbai's most prestigious addresses. A deliberate, decade- long march into Mumbai's most prestigious addresses. EVERY ADDRESS COMMA
Slide 109: From suburbs to skylines: Iconic
CHAPTER 04 AQUSITION LOCATION HOW MICL IS UNIQUE JOURNEY STRATEGY ICONIC FROM SUBURBS TO SKYLINES A deliberate, decade-long march into Mumbai's most ▸ Pali Hill, Bandra ▸ Bandstand, Bandra prestigious addresses. A deliberate, decade- long march into Mumbai's most ▸ Tardeo prestigious addresses. ▸ Ma
Slide 110: Tardeo, South Mumbai: 6.5 lakh sq.ft
RESIDENTIAL CARPET AREA GDV 6.5 LAKH ₹3,000+ SQ.FT. CRORES TARDEO, SOUTH MUMBAI Artistic Impression
Slide 111: Ongoing project: 5.3 lakh sq.ft
ONGOING PROJECTS RESIDENTIAL CARPET AREA GDV 5.3 LAKH ₹925+ SQ.FT. CRORES
Slide 112: Ongoing project: 4.3 lakh sq.ft
ONGOING PROJECTS RESIDENTIAL CARPET AREA GDV 4.3 LAKH ₹1,200+ SQ.FT. CRORES
Slide 113: BKC, Bandra: 1.6 lakh sq.ft
ONGOING PROJECTS RESIDENTIAL ONGOING PROJECTS RESIDENTIAL CARPET GDV CARPETAREA AREA GDV 1.6 1.6LAKH LAKH ₹850+ ₹850+ SQ.FT. SQ.FT. CRORES CRORES BKC, BANDRA
Slide 114: Ongoing project: 3.5 lakh sq.ft
ONGOING PROJECTS RESIDENTIAL CARPET AREA GDV 3.5 LAKH ₹1,200+ SQ.FT. CRORES
Slide 115: Location: South Mumbai portfolio
LOCATION · SOUTH MUMBAI PORTFOLIO COMBINED GDV ₹8,000+ CRORES 3 SOUTH MUMBAI PROJECTS CUMULATIVE CONSTRUCTION AREA ~5.75 MN SQ.FT. MAN INFRACONSTRUCTION LIMITED
Slide 116: Location: Bandra portfolio
LOCATION · BANDRA PORTFOLIO COMBINED GDV ₹2,350+ CRORES 3 BANDRA PROJECTS CUMULATIVE CONSTRUCTION AREA ~1.15 MN SQ.FT. MAN INFRACONSTRUCTION LIMITED
Slide 117: Three waves, one relentless march
CHAPTER 04 AQUSITION LOCATION HOW MICL IS UNIQUE JOURNEY STRATEGY THREE WAVES. ONE RELENTLESS MARCH. ACCELERATION How MICL 2026 ( 6 months ) built one of Mumbai's ₹3,100+ Cr distinguished portfolios. New additions BREAKOUT 2024 – 2025 Tardeo TOTAL PRIOR YEARS ₹9,650+ Cr Bandstand, Bandra PORTFOLIO 2
Slide 118: The portfolio built without a land bank
CHAPTER 04 AQUSITION LOCATION HOW MICL IS UNIQUE JOURNEY STRATEGY TOTAL PORTFOLIO GDV The Portfolio ₹18,625+ Cr built without ACROSS 12 ONGOING & UPCOMING PROJECTS a land bank
Slide 119: The growth story
{} E oo f | ig n | i THE GROWTH STORY
Slide 120: FY27 launch pipeline
CHAPTER 04 THE GROWTH LAUNCH HOW MICL IS UNIQUE STORY PIPELINE MICL’S LARGEST- 01FY27 LAUNCHES GDV 02 FY27 LAUNCH PIPELINE EVER LAUNCH PHASE ₹6,700+ CR ~11.0 Lakh Sq. Ft. Marine Lines GDV ₹3,100+ Cr Pali Hill, Bandra GDV ₹500+ Cr Tardeo GDV ₹2,000+ Cr Mulund GDV ₹100+ Cr Bandstand, Bandra GDV ₹1,000
Slide 121: Ongoing projects delivery
CHAPTER 04 THE GROWTH DELIVERY HOW MICL IS UNIQUE STORY PIPELINE ONGOING PROJECTS ATMOSPHERE 1.0+ AARADHYA PARKWOOD AARADHYA ONEPARK TOWER G MILLION SQ.FT. NEAR DAHISAR GHATKOPAR - EAST MULUND - WEST Carpet Area Delivery Planned in the next ~90% JUN ~60% MAR ~70% DEC SOLD 2026 SOLD 2027 SOLD 2027 6-
Slide 122: The next chapter begins: ₹5,000+ Cr sales target
SCALE.MOMENTUM.AMBITION THE NEXT CHAPTER BEGINS ₹5,000+ CR COMBINED SALES TARGET OVER THE NEXT TWO YEARS
Slide 123: Ongoing projects timeline
CHAPTER 04 THE GROWTH DELIVERY ONGOING PROJECTS HOW MICL IS UNIQUE STORY PIPELINE P EAK D ELIV ERY W IND O W TODAY 2022 2023 2024 2025 2026 2027 2028 2029 2030 Atmosphere Tower G Dec '27 Aaradhya Parkwood Jun '26 Dec '27 Aaradhya Avaan Jan '28 Dec '29 Aaradhya OnePark Mar '27 JadePark, Vile Parle We
Slide 124: Upcoming projects timeline
CHAPTER 04 THE GROWTH DELIVERY UPCOMING PROJECTS HOW MICL IS UNIQUE STORY PIPELINE TODAY 2026 2027 2028 2029 2030 2031 2032 Trishul, Bandstand Bandra Sep '30 Tardeo 2.0 Dec '31 Pali Hill, Bandra West Dec '30 Zaoba Wadi Mar '32 Royal Netra, Goregaon West Initial Stage — RERA filing pending* India Upc
Slide 125: Global projects timeline
CHAPTER 04 THE GROWTH DELIVERY GLOBAL HOW MICL IS UNIQUE STORY PIPELINE 2032 TODAY 2024 2025 2026 2027 2028 2029 2030 2031 Botanic Residences Miami, Florida Mar '30 MICL Stake: 40.0% Tigertail Villa Miami, Florida Dec '27 MICL Stake: 25.0% Ritz-Carlton Residences Fort Lauderdale Beach Mar '30 MICL S
Slide 126: Vision 2031
VISION 2031 “WE BELIEVE MICL IS ENTERING ITS NEXT PHASE OF GROWTH. WHAT’S COMING WILL REDEFINE THE COMPANY.” MR. MANAN SHAH Managing Director Man Infraconstruction Limited *Estimated ^GDV – Gross Development Value
Slide 127: 2X from current estimated portfolio GDV
2X FROM CURRENT ESTIMATED PORTFOLIO GDV OF ₹18,625+ CR *Estimated ^GDV – Gross Development Value
Slide 128: Our ambition is clear: ₹35,000+ Cr GDV by 2031
OUR AMBITION IS CLEAR ₹35,000 + Cr * GDV^ BY 2031 *Estimated ^GDV – Gross Development Value
Slide 129: Vision 2031 target micro-markets
GROWTH & AMBITION ▸ Goregaon W VISION 2031 ▸ Bandra ▸ Ghatkopar ▸ Parel ▸ Mumbai Central ▸ Mahalaxmi ▸ Tardeo ▸ Napean Sea Road ▸ Girgaon ▸ Fort
Slide 130: The global frontiers: Miami, Florida USA
THE GLOBAL FRONTIERS MIAMI, FLORIDA USA
Slide 131: Mr. Vatsal Shah
“LEGACY IS NOT MEASURED BY WHAT WE INHERIT, BUT BY WHAT WE BUILD UPON IT.” MR. VATSAL SHAH Director, MICL Global Third Generation of the founding family, he preserves the guiding principles that have brought MICL it’s continued success Earned a M.S. in Business Analytics from University of Miami in
Slide 132: Slide 132
Slide 133: Global portfolio: Miami, Florida
CHAPTER 05 REAL ESTATE THE GLOBAL FROTIERS INTERNATIONAL MIAMI FLORIDA USA $ 1.4 BN ~6.4 LAKH ~236 GROSS SQ.FT. UNIT DEVELOPMENT VALUE CARPET AREA INVENTORY GLOBAL PORTFOLIO Waterfront residences, Apartments and Villas
Slide 134: EPC potential
EPC POTENTIAL
Slide 135: EPC potential ahead: upcoming projects
CHAPTER 06 THE FUTURE EPC POTENTIAL AHEAD UPCOMING PROJECTS 01 02 03 Royal Netra, Off Bandstand, Tardeo 2.0 Bandra West Goregaon RUNWAY 04 05 O2 Hi-Street, 06 Virgo, Pali Hill, AHEAD Marine Lines Mulund Bandra West How MICL assembled 1 Cr Sq. Ft. ₹5,855 Cr 6 Mumbai's most ambitious portfolio. Total
Slide 136: India's next decadal port opportunity
CHAPTER 06 SECTOR EPC POTENTIAL OPPORTUNITY INDIA'S NEXT 01 02 03 DECADAL Vadhavan Port Vizhinjam Port Mundra PORT & Connectivity Phase 2 Expansion Belt OPPORTUNITY Dahanu-Boisar, Maharashtra Kerala Gujarat OPPORTUNITY SIZE OPPORTUNITY SIZE OPPORTUNITY SIZE ~₹1.26 Lakh Cr+ ₹80,000+ Cr ₹16,000 Cr ₹30
Slide 137: The big ambition for MICL Group
THE BIG AMBITION FOR MICL GROUP
Slide 138: India RE portfolio: ₹35,000+ Cr GDV by 2031
INDIA RE PORTFOLIO ₹35,000 + Cr GDV^ BY 2031
Slide 139: Global portfolio: $1.4+ billion by 2031
GLOBAL PORTFOLIO $1.4+ BILLION+ EXECUTION BY 2031
Slide 140: EPC construction value ₹5,855+ Cr
EPC CONSTRUCTION VALUE ₹5,855+ Cr EPC POTENTIAL
Slide 141: Well positioned for future growth
WELL POSITIONED FOR FUTURE GROWTH 25%+ 20%+ 25%+ ₹2,266 CR PBT RETURNS RETURNS ON CAPITAL NETWORTH MARGIN ON EQUITY EMPLOYED CONSOLIDATED LEVELS CONSISTENT 5-YEAR AVERAGE 5-YEAR AVERAGE NET ₹686 CR ₹1,461 CR CARE A+ DEBT LIQUIDITY CREDIT RATING FREE CONSOLIDATED INVESTED IN OWN STABLE CONSOLIDATED L
Slide 142: The leadership
THE LEADERSHIP
Slide 143: Top management
TOP MANAGEMENT PARAG SHAH MANAN SHAH VATSAL SHAH CHAIRMAN EMERITUS MANAGING DIRECTOR DIRECTOR, MICL GLOBAL BUSINESS SALES & FINANCE SECRETARIAL ENGINEERING LEGAL LIAISONING DEVELOPMENT MARKETING ASHOK M. DURGESH D. RAVI Y. KHUSHRAHO K. AYUSH S. SAMEER A. ASHISH V. DIRECTOR/CFO COMPANY SECRETARY VICE
Slide 144: The future belongs to those who can see it
The future belongs to those who can see it. Destiny belongs to those who dare to shape it. - MR. MANAN SHAH MANAGING DIRECTOR, MICL GROUP
Slide 145: Thank you
REALESTATE
Man Infraconstruction — Investor Presentation (June 2026) on 6ix