MICL Unlocks ₹6,000+ Crore Revenue Potential From Marine Lines Project, Recoups ₹300 Crore Investment

Mumbai: Man Infraconstruction Limited (MICL) announced on 28 September 2026, a collaboration with Godrej Properties Group (Godrej) for a sea-facing residential project at Marine Lines, South Mumbai. The project is estimated to have an overall revenue potential exceeding ₹6,000 crore, according to the company.

Project Overview

The project spans approximately 2.5 acres in Marine Lines. It offers views of the Arabian Sea and benefits from connectivity via the Mumbai Coastal Road, the upcoming Metro network, and the Atal Setu corridor.

Collaboration Details

MICL, which was previously the Development Manager for the project, has now partnered with Godrej for its development. The development rights, initially held jointly by MICL and Shreepati Group, have been transferred to Godrej.

Financial Impact

The collaboration includes a revenue-sharing arrangement that will benefit MICL. Additionally, MICL Group will recoup its existing investment in the project, amounting to over ₹300 crore. The project will also feature joint branding as part of the partnership.

Management Commentary

Manan Shah, managing director, MICL Group, said the Marine Lines project is a prestigious opportunity in their portfolio. Shah stated that the transaction with Godrej unlocks the project's full potential and represents an important milestone for MICL.

Strategic Benefits

According to Shah, the early realisation of cash flows from the project will provide MICL with greater financial flexibility. This flexibility will allow the company to pursue new development opportunities and expand its presence in Mumbai.

Disclaimer: This story is based on company exchange filings and is for informational purposes only. Investors should evaluate risks before making decisions.