Man Infraconstruction Limited · NSE:MANINFRA
Man Infraconstruction — Q4 FY25 Earnings Presentation
45 slides from Man Infraconstruction's earnings presentation, May 20, 2025
Slide 1: Cover letter to stock exchanges
EPC REAL ESTATE MAN INFRACONSTRUCTION LIMITED (CIN: L70200MH2002PLC136849) May 20, 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, Ind
Slide 2: Investor Presentation – Q4 & FY25
M A N INFRACONSTRUCTION LIMITED INVESTOR PRESENTATION – Q4 & FY25 May 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 invitatio
Slide 4: Index
Index Group Overview 04 Group Overview 04 Business Model 10 Business Model 16 Performance Snapshot 30 Performance Snapshot 26 Company Highlights 43 Company Financials 39 Project Portfolio 48 Annexure 51 M A N INFRACONSTRUCTION LIMITED
Slide 5: Built with ethics. Led with passion. Focused on value creation
:.1;\) 33 3~ ~'4 ~ ~{41 "'~· \ ......_- '\ >1 > 3 >I> 13UILT WITH ETHICS. LED WITH PASSl()N. FOCUSED ()N VALUE CREATION Artist's Impression M A N INFRACONSTRUCTION LIMITED
Slide 6: Years of experience in construction across the country
60+ 10+ 50+ ~800 4,300+ Years of experience in Years of experience Mn. sq. ft. of real Workforce Happy Families construction across in real estate estate and infra Employment the country development construction delivered 5 M A N INFRACONSTRUCTION LIMITED
Slide 7: Awards and recognition
2025 • Outstanding Contribution 2022 2017 Towards the Economy • Top Challenger of the Year • Entrepreneur of the Year • Ethical Brand of the Year UDC–Hurun Stars of Mumbai Awards Construction Times • Excellence in Delivery Construction World • The Extraordinaire Icon of Trust Incredible Brands of In
Slide 8: Founders and leadership journey
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 INCEPTION VENTURED IN FOUNDED MICL OVERSEES GLOBAL TO PORT INFR. REAL ESTATE OPERATIONS • Joined business in 2013 with a • Earned a M.S
Slide 9: Company milestones timeline
Secured two landmark projects - executed using MIVAN technology • One of the largest township under Slum Rehab Scheme in Mumbai Mr. Parag Shah (son of Mr. Man Construction Private • Residential complex, ‘Orchid Woods’ Kishore Shah) joins the Limited (now Man Infra- comprising of three towers of 55 s
Slide 10: Recent project launches and milestones
• 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, Insignia, • Launch of Aaradhya Vile Parle OnePark, Ghatkopar (E) Mr. Manan Shah joins the Company with a pa
Slide 11: Board of directors
MR. BERJIS DESAI MR. ASHOK MEHTA Dr. KSHITIJA WADATKAR MS. KAVITA UPADHYAY Chairman and Non- Whole-time Director & CFO Independent Director Independent Director Executive Director • A Master of Law from the • A qualified Chartered • She has over 14 years of • A qualified Chartered Accountant, Univer
Slide 12: Over 60 years of experience in infrastructure 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 cont
Slide 13: 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: Track record of delivering all projects before time
BEFORE TIME COMPLETION Track record of delivering all 19 Projects Before Time Delivered 2.8 mn. sq. ft. of carpet area till date Completed projects at least 6 months to 24 months before scheduled date NEGLIGIBLE INVENTORY IN COMPLETED (OC RECEIVED) PROJECTS Nearly 90% of the inventory is sold out be
Slide 15: Real estate and EPC portfolio
^ ₹9,000+ crore of total sales till Mar-25 ~2.3 Mn. Sq. ft. Delivered 19 projects, all ahead of schedule 2.5 Delivered of ongoing projects 2.8 Commitment to quality and timely delivery REAL Ongoing ESTATE Partnering with leading architects and Upcoming PORTFOLIO ~2.5 Mn. Sq. ft. consultants of upcom
Slide 16: Key ongoing and upcoming projects
AARADHYA AVAAN AARADHYA ONEPARK PROJECT AT PROJECT AT Tardeo Ghatkopar (E) Goregaon (W) Marine Lines Building one of India’s tallest residential towers Developing first of its kind 12,000+ sq mt gated Developing one of the largest redevelopment Building India’s one of the tallest residential with he
Slide 17: Business Model
Business Model 16
Slide 18: Real estate and EPC income streams
REAL ESTATE PROJECTS EPC PROJECTS DM FEE* OR EPC INTEREST EPC PMC^ EQUITY MARGIN MARGIN** MARGIN Or Fees MARGIN Includes margin on Charged for In-house Engineering Funds infused into Professional managing DM - Charged as % of Port projects / Govt. & Construction Projects as debt earns an of site, ma
Slide 19: Real estate projects model: JV / JDA / DM
REAL ESTATE PROJECTS MODEL Joint Society Development Development Joint Venture Redevelopment Manager (DM) Agreement (JDA) (Pvt./Mhada/SRA) Reduces Overall Initial Investment 1. Sales for projects executed under subsidiaries gets reflected in consolidated revenue in the financial statements 2. Sales
Slide 20: Ongoing projects
ONGOING PROJECTS Sales / DM MICL Group’s Total Carpet Total Sales Real Estate Projects EPC Project Project Name Location Model Fees Stake Area Potential Income Streams Income Streams Recognition Equity (Lakh sq. ft.) (₹ Cr.) DM Fee EPC Margin PMC Margin Margin Aaradhya Ghatkopar, 60.00% Subsidiary ~
Slide 21: Upcoming projects
UPCOMING PROJECTS Sales / DM EPC Project MICL Group’s Total Carpet Total Sales Real Estate Projects Project Name Location Model Fees Income Stake Area Potential Income Streams Recognition Streams (Lakh sq. ft.) (₹ Cr.) DM Fee Equity Margin PMC Margin Goregaon Royal Netra$ 33.32% JV ~17.5 ~4,000+ - -
Slide 22: Strong focus on margins as well as profitability
Consolidated financials – Amount in (₹ Cr) PBT and PBT MARGIN NET PROFIT and NET PROFIT MARGIN 22.1% 23.0% 32.6% 29.2% 32.5% 18.6% 20.5% 13.3% 12.2% 7.1% 300 283 397 397 401 259 379 216 55 32 FY21 FY22 FY23 FY24 FY25 FY21 FY22 FY23 FY24 FY25 PBT PBT Margin Strong Focus on Margins as well as Profitab
Slide 23: Financial prudence with low debt and high liquidity
Consolidated financials – Amount in (₹ Cr) NET CASH POSITIVE BALANCE SHEET SIGNIFICANT SECURED DEBT REDUCTION 0.3 0.1 -0.1 -0.4 -0.3 741 332 570 513 228 299 308 123 91 29 Cash & cash Eq. Net Debt/Equity ratio (x) Mar-21 Mar-22 Mar-23 Mar-24 Mar-25 Sep-22 Dec-22 Mar-23 Mar-24 Mar-25 Maintaining Finan
Slide 24: Fund raise details status as on Mar-25
FUND RAISE DETAILS STATUS as on Mar-25 Raised ₹543 crores Funds Raised Status through preferential route in January 2024 • Received ₹182.8 crores of the issue price • Balance ₹360.4 crores to be received on or before July 2025 Allotted 3,50,46,100 Convertible Amount Utilized ₹138.3 Crores Equity war
Slide 25: Key metrics: sales visibility, order book, liquidity
Funds Raised Real Estate Sales Visibility** Real Estate projects portfolio EPC Order Book ₹543 Cr.* 4.8 mn sq. ft. ~₹12,250+ Cr. ~₹503 Cr. via preferential route Carpet Area Investments in Subsidiary Debt Status Liquidity Levels Credit Rating Upgrade Real Estate Projects Net Cash ₹570 Cr. CARE A+, S
Slide 26: Growth strategy
Expansion Global (USA) Strategy Expansion Maintain strong Higher Sales liquidity & Visibility • Real Estate • Expanded Real Estate profitability - Establishing presence business in Miami, in western suburbs of Mumbai, MMR and Florida, USA • Expecting potential • Focus to be Net South Mumbai increase
Slide 27: Performance Snapshot
PERFORMANCE SNAPSHOT
Slide 28: FY25 operating highlights
Area Sold Sales Value Collections 1 7.8 lakh sq. ft. 2 INR 2,251 Crs. 3 INR 1,270 Crs. Vs 3.0 Lakh sq. ft. (FY24) Vs INR 744 Crs. (FY24) Vs INR 1,197 Crs. (FY24) 3x YoY Project Added Projects Delivered Projects Launched 4 1.6 lakh sq. ft. 5 4.2 lakh sq. ft. 6 5.7 lakh sq. ft. INR 1,600 Crs. 27 M A N
Slide 29: Q4 FY25 operating highlights
Area Sold Sales Value Collections 1 3.2 Lakh sq. ft. 2 INR 743 Crs. 3 INR 297 Crs. 28 M A N INFRACONSTRUCTION LIMITED
Slide 30: New developments during the year
New Developments during the year Strategic Realignment of Portfolio, sharpening 2 New Projects launched in Q4FY25 focus on Luxury projects Witnesses solid traction on its launch • MVLLP$ relinquished the development rights of • JadePark: An ultra-luxurious project on S.V. balance 9.2 lakh sq.ft. car
Slide 31: Atmosphere O2 and Aaradhya Evoq sold out
Aaradhya Evoq – Fully Sold Out Atmosphere O2 – Nearly 100% Sold Out Artist Impression Artist Impression • Luxurious standalone residential tower in Juhu featuring lavish 3 and 4 • A sought-after gated community experience by MICL Group in Mulund BHK residences West, Mumbai, launched in Nov 2019 • ~6
Slide 32: JadePark project details
Mumbai Ultra-Luxury 3.5 L sq. ft. Rs. ~1,200 Cr DM Model Vile Parle - West Redevelopment Indicative carpet Indicative Project saleable area Topline Project Details: ✓ First cluster development in Vile Parle West to be developed by MICL Group ✓ Scale: 3-acre development on Swami Vivekanand (SV) Road
Slide 33: JadePark
JadePark Vile Parle West 32 Artist Impression
Slide 34: Artek CHSL BKC project details
Acquired in Jun-24 Mumbai Ultra-Luxury 1.6 L sq. ft. Rs. 800+ Cr 34% Equity BKC Redevelopment Indicative carpet Indicative Project saleable area Topline Project Details: ✓ Prime Location: BKC, Kalanagar area ✓ Configuration: Ultra-Luxury Residences of 3 & 4 BHK ✓ Delivery: Expected in 3 Years from L
Slide 35: Ongoing projects sales status as on Mar-25
As on Mar-25 Units Sold Area Sold Sr. MICL Group Units Sold In Units Total Carpet Area Date of Project Name Location Type Model Total Units as on Mar- in Area sold No. Stake Q4 FY25 Unsold area* Unsold Completion$ 25 Q4 FY25 (JDA/JV/ (%) (nos.) (nos.) (nos.) (nos.) (sq ft.) (sq ft.) (sq ft.) (sq ft.
Slide 36: Upcoming projects as on Mar-25
As on Mar-25 MICL Group Type MICL's RERA Expected Sr. No. Project Name Location Total Units Stake Model Carpet area^ Launch Date* (%) (nos.) (sq ft.) 1 Royal Netra$ Goregaon West 33.32% Mix JV - ~17,50,000 - 2 Artek CHSL$ BKC, Bandra East 34.00% Residential JV - ~1,60,000 FY26 Pali Hill, Bandra 3 Vi
Slide 37: Negligible unsold inventory upon OC and delivery track record
As on Mar-25 Completed time Project Sr. Units Units Total Carpet Carpet Area Projects Towers Type Location Model Total Units Carpet Area Sold before scheduled Completion No. Sold Unsold Area Unsold Date Timeline 1 Tower E, F, G, H & I Residential Own 325 325 0 3,23,370 3,23,370 0 14 Months Sep-20 -
Slide 38: MICL Global US projects
Ongoing Project Upcoming Projects Completed Project 551 Bayshore New Residential projects 3090 McDonald Avenue Actual Shot 1. Location: Coconut Grove, Miami, Florida, USA Size: Saleable area of ~ 8,000 sq. ft. Membership Interest: 25% Artist Impression 2. Location: Brickell, Miami, Florida, USA Loca
Slide 39: EPC order book: infrastructure and residential
INFRASTRUCTURE RESIDENTIAL ~110 Hectares - Ports – BMCT ~3.8 Mn. sq. ft. of Construction Work* Actual Shot Actual Shot Artist's Impression Artist's Impression Artist's Impression Bmct Port – Phase 2, AARADHYA AVAAN JADEPARK Atmosphere Tower G Nhava Sheva, Navi Mumvai TARDEO VILE PARLE Nahur, Mulund
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Slide 41: Consolidated quarterly and annual results
Particulars (Rs. Crs.) Q4 FY25 Q4 FY24 Q3 FY25 FY25 FY24 Revenue from operations 293.8 296.7 242.3 1,108.1 1,263.5 Real Estate 161.0 175.7 156.2 698.5 530.4 EPC 132.8 121.0 86.1 409.6 733.1 Other Income 34.1 35.5 32.7 123.2 96.8 Total Income 327.9 332.3 275.0 1,231.3 1,360.2 Total Expense 187.3 247.
Slide 42: Consolidated profit & loss and balance sheet
Profit & Loss Statement (Rs. Crs.) FY25 FY24 FY23 FY22 FY21 Revenue from Operations 1,108.1 1,263.5 1,890.3 961.5 427.2 Other Income 123.2 96.8 47.9 201.2 24.9 Total Income 1,231.3 1,360.2 1,938.3 1,162.7 452.1 Total Expense 783.9 937.1 1,476.4 714.0 330.6 EBITDA excluding Other Income 324.2 326.4 4
Slide 43: Standalone quarterly and annual results
Particulars (Rs. Crs.) Q4 FY25 Q4 FY24* Q3 FY25* FY25 FY24* Revenue from operations 130.8 121.4 85.7 394.7 708.3 Other Income 33.8 72.4 36.3 123.4 125.3 Total Income 164.6 193.7 122.0 518.1 833.6 Total Expense 110.1 112.2 65.9 304.0 550.1 EBITDA excluding Other Income 20.7 9.2 19.7 90.8 158.2 EBITDA
Slide 44: Standalone profit & loss and balance sheet
Profit & Loss Statement (Rs. Crs.) FY25 FY24* FY23 FY22 FY21 Revenue from Operations 394.7 708.3 797.8 236.6 119.6 Other Income 123.4 125.3 83.2 75.3 113.8 Total Income 518.1 833.6 881.0 311.9 233.4 Total Expense 304.0 550.1 660.9 175.5 115.9 EBITDA excluding Other Income 90.8 158.2 136.9 61.1 3.7 E
Slide 45: Thank you
THANK YOU INVESTOR RELATIONS Company: MICL Go India Advisors Name: Mr. Yashesh Parekh Name: Mrs. Sheetal Khanduja Tel: +91-8108321555 Tel: +91-9769364166 Email: Yashesh@maninfra.com Email: sheetal@goindiaadvisors.com M A N INFRACONSTRUCTION LIMITED
Man Infraconstruction — Q4 FY25 Earnings Presentation on 6ix