Man Infraconstruction Restructures LLP Stake, Holds Control Amid ₹503 Cr EPC Pipeline

Man Infraconstruction Restructures LLP Stake, Holds Control Amid ₹503 Cr EPC Pipeline

Debt-free company lowers interest in Man Aaradhya LLP to 45% but keeps 50.5% operational authority

Man Infraconstruction Ltd (MICL), a prominent player in the real estate and engineering sectors, has reported a current *EPC project backlog of ₹503 crore. Alongside this strong pipeline, the company has revised its stake in its affiliate firm, **Man Aaradhya LLP, lowering its holding to 45%* while strategically maintaining *50.5% combined control*, ensuring it remains the dominant decision-maker.

This move follows a year of solid financial performance. In FY 2025, MICL achieved *revenues of ₹2,251 crore, marking a threefold increase year-over-year. What’s more, the firm continues to operate with **zero net debt* and maintains a *healthy cash surplus of ₹570 crore*, placing it among the few net-cash-positive companies in the EPC space.

The ₹503 crore order book includes major engineering and port-related infrastructure assignments, along with more than *10 million square feet of internal construction projects. With this robust order flow, MICL is also expected to compete for major upcoming developments like the **Vadhavan Port*, highlighting its ambitions beyond existing commitments.

Although the reduction in LLP stake may appear like a scale-back, MICL has carefully retained *majority operational control*. This arrangement not only helps unlock capital for future initiatives but also ensures the company maintains a firm grip on the strategic direction of Man Aaradhya LLP.

This update is consistent with MICL’s broader business transformation. The company has been refining its real estate strategy by moving away from non-strategic phases and instead focusing on *premium residential developments* in key Mumbai neighborhoods such as *BKC, Marine Lines, Vile Parle, and **Pali Hill*. These locations are expected to contribute significantly to revenue in the next fiscal cycles.

Simultaneously, MICL’s EPC division is actively executing high-value projects and building a strong delivery track record. The ₹503 crore project pipeline forms a stable foundation for its engineering business, and the company’s *net cash status* gives it a competitive advantage when bidding for new public or private tenders.

Recent data also points to MICL’s momentum: it recorded *₹743 crore in quarterly sales (Q4 FY25), and its pipeline includes several luxury project launches worth **₹1,600 crore. Notably, upcoming projects in **Marine Lines and Pali Hill, with an estimated **₹3,400 crore in sales potential*, position the company to maintain its growth trajectory well into FY26.

What This Means for Investors and Stakeholders:

* *Financial strength*: MICL’s zero-debt, high-cash model provides risk protection and operational agility.
* *Governance clarity*: Although its stake in the LLP is lower, it retains control, reducing management risk.
* *Revenue visibility*: The EPC order book and real estate launches offer multi-quarter earnings support.
* *Execution risks*: The scale and complexity of EPC and luxury real estate projects still demand flawless delivery and market stability.

Summary

Man Infraconstruction Ltd, while trimming its stake in Man Aaradhya LLP to 45%, has retained 50.5% control, ensuring strategic command. With ₹503 crore in active EPC contracts and a cash-rich balance sheet, the company continues to push ahead with both infrastructure and high-end real estate projects in Mumbai—positioning itself for consistent growth in the near term.

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