MICL Approaches 60 Years of Building a Solid Foundation in Engineering

Launched in 1964, MICL has proven its engineering DNA with the success of delivering over 60 iconic projects from ports, industrial, and IT to residential and commercial properties

Mumbai, Maharashtra, India – Business Wire India

MICL Group, a well-known name in the infrastructure and real estate sector, is set to enter its 60th year of business in engineering and constructing megastructures, designing living spaces through innovations and technologies.

Over the past fifty-nine years, MICL has set new industry benchmarks and built a loyal client base by focusing on building critical infrastructure and successfully diversifying into real estate. MICL Group is now poised for even greater success in the years ahead, thanks to its team of 750+ highly skilled employees dedicated to delivering high-quality infrastructure projects for the MICL brand.

Due to its commitment to quality and on-time delivery, the company's engineering, procurement, and construction, the business has excelled. MICL's EPC strengths include client retention, efficient project management, cost control, and skill in implementing complex infrastructure projects, high-rise structures, townships, and mass housing developments. The company not only owns plant and equipment which enhances its execution capabilities but also is equipped with a talented and well-trained staff of approximately 750 individuals who are its backbone.

Through its drive to quality and sustainability, the company has established itself as a pioneer in India's infrastructure industry, developing over 240 hectares of major ports with another 100+ hectares under construction displaying its unshakable commitment to customer satisfaction.

Some of the major ports constructed by MICL includes phase 1 of Bharat Mumbai Container Terminal (BMCT), subsidiary of PSA group at Nhava Sheva port in Navi Mumbai, Mundra Port in Gujarat, Chennai Container Terminal in Tamil Nadu, International Container Transhipment Terminal in Kochi, and Gujarat Pipavav port in Gujarat are among the critical ports developed by the company. MICL is now working on phase II construction for BMCT, spread over 110 hectares at Nhava Sheva, Navi Mumbai.

In the last ten years, the company also successfully expanded into real estate development, completing 14 projects ahead of time and satisfying over 2,200 families with their new homes. The strength of MICL's asset-light real estate business lies in its JDA, JV, and DM model, which helps disperse risk and take advantage of partners' skills, which the company takes great satisfaction in. The company relies on in-house execution, using Man Infra's execution capabilities to improve control and margin expansion. MICL maintains strict monitoring and discipline in projects to prevent cost overruns and manage cash flow to manage project risks and generate high internal rates of return.

MICL has 3 million square feet of ongoing and upcoming projects that include its flagship real estate projects ‘Aaradhya One Earth’- a one of kind gated community living concept in Ghatkopar; ‘Aaradhya Highpark’- premium homes with optimised usable spaces along with a community living concept; ‘Atmosphere O2’ on Mulund-Goregaon Link Road; ‘Aaradhya Evoq’- a standalone tower featuring luxury flats in a vertical living concept at Juhu offering over 20 top-class amenities and spread over ~10,000 square feet and ‘Insignia’- planned with meticulous detailing located in Vile Parle West, is a standalone tower with a vertical living concept.

The company has set its sights on launching a host of new projects in the coming fiscal year. Situated at premium locations in the bustling city of Mumbai, these new projects will be modern offerings with a magnificent and awe-inspiring potential upcoming line-up encompassing a 1.7 million square feet of opulent carpet area.

Characterised by excellent profitability and consistent dividend announcements, MICL has demonstrated the capacity to weather the pandemic and business cycles while preserving strong liquidity. A debt-free position at the holding company level and negative net debt at the consolidated level make the brand well-positioned for future growth and success. MICL is working to strengthen its position as a worldwide industry player by offering exceptional value to its customers while upholding its tradition of excellence and innovation.

The Group has in-house building capability and is debt-free, with holding companies having a consolidated net worth of Rs. 1,000+ Crore and liquidity of Rs. 450+ Crore as on Dec 2022. Since 2010, MICL has been publicly listed on the NSE and BSE and invested approximately Rs. 700 Crore in own real estate projects. In addition, the company has garnered 13 significant awards, indicating its commitment to industry excellence and innovation.

After completing 50 years in the EPC industry and a decade in real estate in India, the company aims to achieve great strides by diversifying into multiple asset classes like malls, retail, and hotels. MICL is actively looking for new real estate prospects in the western suburbs of Mumbai, such as in Vile Parle, as well as in the southern neighbourhood of Tardeo. On the global front, MICL has expanded its footprint in Miami, USA markets, by strategically associating with local partners ‘Location Ventures’ and have launched the highly anticipated 'Edition Residences,' Marriott International's first branded property in Fort Lauderdale, Florida, USA. The Group also plans to launch other luxury developments soon. MICL group has an established record of success and a solid dedication to quality, with a promise to continue expanding and thriving in the real estate market.

"MICL's purpose is to leave a legacy, not only build properties. We want to be a status symbol in the real estate sector, known for our superior quality, on-time delivery, and customised lifestyle. We aim to be one of the top developers in the country over the next decade, focusing on worldwide expansion," says Mr Manan Shah, Managing Director, MICL Group.

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