Man Infraconstruction Q2 FY27 Profit Rises 14% as Sales Reach Rs 412 Crore

What the company reported

Man Infraconstruction Limited, headquartered in Mumbai, announced its September quarter results on Thursday, 29 October 2026. The company operates two verticals: EPC (engineering, procurement and construction) work across ports, residential, commercial, industrial and roads, and real estate development under MICL, which focuses on premium Mumbai addresses.

Consolidated profit after tax, after non-controlling interest, rose about 14% year on year to about Rs 63 crore in Q2 FY27. For the half-year, profit after tax rose 21% to about Rs 134 crore. Revenue from operations rose 57% to Rs 266 crore, total income rose 51% to Rs 283 crore, and EBITDA rose 41% to Rs 81 crore.

Reports differ on the exact profit figure and its year-ago base. One report puts Q2 profit at about Rs 65.2 crore, up 8.7% from Rs 60 crore a year earlier. The company's Q2 FY26 profit is also cited at about Rs 55 crore in some reports. The figures above follow the reports that carry the 14% growth rate.

Sales and collections

The company sold 1.1 lakh square feet in the September quarter, generating sales of Rs 412 crore and collections of Rs 355 crore. Sales in the June 2026 quarter were Rs 290 crore, which brings half-year sales to Rs 702 crore on 2.0 lakh square feet. Half-year collections were Rs 599 crore.

Sales are bookings made in the period, and collections are cash received from buyers. The gap between the two is a normal feature of under-construction projects, where buyers pay in instalments as construction progresses.

Segment performance

The real estate arm recorded revenue of Rs 203.21 crore, almost double the Rs 106.87 crore of a year earlier. Its profit stayed flat at about Rs 57 crore.

The construction arm, which builds projects for outside clients, held revenue at Rs 62.98 crore. Its profit nearly doubled to Rs 28.58 crore.

EBITDA margin narrowed to 30.3% from 33.7%, according to one report. Consolidated PAT margin for the quarter was reported at 30.5% in the company filing, up from 24.6% in Q1 FY26.

Pipeline and capital returns

The company's pipeline in South Mumbai and Bandra carries an expected sales value of over Rs 9,500 crore. It targets pre-sales of Rs 5,000 crore over FY27 and FY28.

Ongoing projects are about 65% to 70% sold and are expected to be completed within 6 to 15 months of the October 2026 results. This figure excludes projects launched this year.

The company has an open-market buyback of up to Rs 169 crore under way. Reports state that 75.2% of the approved size has been completed.

The EPC division holds an order book of Rs 5,855 crore for upcoming projects, including Tardeo 2.0 and O2 Hi-Street.

Marine Lines and Bandra context

On 28 September 2026, MICL announced a collaboration with Godrej Properties for a sea-facing residential project at Marine Lines, South Mumbai. The development rights, initially held jointly by MICL and Shreepati Group, were transferred to Godrej. MICL will recoup its existing investment in the project, which is over Rs 300 crore. Godrej has estimated the revenue potential at about Rs 6,000 crore on about 2.5 acres, with a total developable area of about 1.7 million square feet.

Managing Director Manan Shah said the early cash from the Marine Lines arrangement would give MICL greater financial flexibility to pursue new development opportunities in Mumbai.

In Bandra, the Berkeley House project at Bandstand, Bandra West, has an estimated gross development value of over Rs 1,000 crore. MICL holds about 70% of the project. The Intimation of Approval (IOA) for the project was reported in August 2026. The IOA allows demolition and on-site works to begin, and the company expects an official launch in FY27.

What it means for buyers, investors and the market

For home buyers: The reported figures cover the company's sales, pipeline and financial performance. No changes to pricing, possession timelines or launch terms for specific projects were reported in the results coverage.

For investors: Profit growth came mainly from the real estate arm's higher revenue and the construction arm's stronger margin. Management reaffirmed its full-year guidance of about 25% PAT growth over FY26. Analysts commenting on the results describe the pipeline as functioning like an order book for a developer, which makes future pre-sales and project completions the key measures to watch.

For the market: The shares touched a day high of Rs 116.10 on 29 October 2026 and closed at Rs 110.66 on the NSE, down Rs 1.45 or 1.29% from the previous close of Rs 112.11.

What comes next

• Full-year FY27 guidance: about 25% growth in PAT over FY26, as reaffirmed by management.
• Pre-sales target: Rs 5,000 crore over FY27 and FY28.
• Ongoing project completions: expected within 6 to 15 months of October 2026.
• Berkeley House, Bandra: official launch expected in FY27, following the IOA.
• Tardeo 2.0: a luxury housing launch has been listed for Q1 FY28, as of October 2026, in a third-party listing.
• Marine Lines: no formal launch date has been announced. The project's formal launch, RERA registration and completion timeline are the next milestones to track.