Micl Group relies on luxury properties: focus on Mumbai's top positions

Micl Group relies on luxury properties: focus on Mumbai's top positions

Mumbai, Indien - The Micl Group, a heavyweight in the real estate sector, has made a huge change of strategy! The focus is now on luxurious real estate in the best locations Mumbais. In a courageous step, the company has given up development rights for phase 3 of the Aaradhya high park project near Dahisar on Mira Road. Instead, MICL focuses on first -class projects in coveted districts such as Pali Hill (Bandra), Bandra Kurla Complex (BKC), Vile Parle and Marine Lines.

The subsidiary Man Vastucon LLP has already successfully completed phase 1 of the Aaradhya Highpark and almost completely sold, with an impressive area of 6.5 LAKH square foot. The current phase 2, Aaradhya Parkwood, extends over 5.3 Lakh square foot and also records remarkable sales figures. But the waiver of phase 3 is a clear indication that Micl wants to specifically steer its resources into high -priced projects.

Financial results in focus

In the results for the second quarter of the 2024-25 financial year, MICL reported a dramatic decline in the consolidated net profit by 36 percent compared to the previous year, which fell to 44.54 Crore RS compared to 69.65 Crore RS in the same period of the previous year. Despite this decline, sales rose 7 percent to 230.32 Crore RS. It is particularly noteworthy to increase the income from the real estate sector, which increased by 65.71 percent to 154.74 Crore RS. In contrast, sales from the area of engineering, procurement and construction (EPC) broke up by 45.85 percent to 75.91 Crore RS.

luxury real estate in the upswing

The MICL Group is a prominent player in the area of luxurious residential properties in Mumbai. With its clear focus on high -priced locations and first -class projects, the company shows that it takes the growing demand for luxurious living space in the city seriously. This strategic realignment could set the course for a glamorous future!