MICL transfers Marine Lines development rights to Godrej Properties

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MICL, which previously held the role of Development Manager for the project, has now transferred the development rights, jointly held with Shreepati Group, to Godrej Properties

By BL Mumbai Bureau

Updated - September 28, 2026 at 10:25 AM.

MICL partners with Godrej Properties for a ₹6,000 crore revenue deal of a sea-facing luxury residential project at Marine Lines in South Mumbai.

Man Infraconstruction Limited (MICL) on Monday announced it has entered into a collaboration with Godrej Properties Group for a sea-facing luxury residential project at Marine Lines in South Mumbai, transferring development rights in exchange for a revenue-sharing arrangement and full recoupment of its ₹300-crore-plus investment in the project.

MICL, which previously held the role of Development Manager for the project, has now transferred the development rights, jointly held with Shreepati Group, to Godrej Properties. The project’s overall revenue potential is pegged at over ₹6,000 crore. The project will be jointly branded under both names.

Spread across approximately 2.5 acres in the heart of Marine Lines, the site offers Arabian Sea views and connectivity via the Mumbai Coastal Road, the upcoming Metro network, and the Atal Setu corridor.

Managing Director Manan Shah said the early cash realisation from the deal would give MICL greater financial flexibility to pursue new development opportunities in Mumbai, while continuing to benefit from the project through a revenue-sharing arrangement with Godrej.

MICL stock was trading at ₹129.80, down marginally by 0.12 per cent, in early Monday trade. The stock has a 52-week range of ₹77.12 to ₹153.80, with a total market capitalisation of approximately ₹5,237 crore.

ManInfra operates two business verticals, EPC and Real Estate Development, with six decades of experience in construction across ports, residential, commercial, industrial, and road segments.

Published on September 28, 2026

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