Listed company Man Infraconstruction Ltd. (MICL) has launched Aaradhya Avaan project in Tardeo area of South Mumbai which is touted to be the tallest building in India with a height of 1,000 feet.
MICL expects to earn a revenue of Rs 8,000 crore from the sale of three residential real estate projects including this tall building and two other projects in Ghatkopar and Goregaon that are currently underway.
According to Manan Shah, Managing Director, MICL, Aaradhya Avaan, the tallest building, has a revenue potential of Rs 3,000 crore. The company is eyeing a revenue of Rs 4,000 crore from its project in Goregaon followed by Rs 1,200 crore from its cluster redevelopment of 10 buildings in Ghatkopar.
Shah shared this information on MICL's Q2FY24 conference call. Currently the tallest building in India is Lodha World Towers which has a height of 918 feet, according CBRE India, a real estate consultancy firm.
Aaradhya Avaan is anticipated to have total saleable carpet area of sale of 6.5 lakh sq ft and constructed area of more than 18 lakh sq ft, Shah said during the conference call.