Man Infraconstruction Limited (MICL) announces it transfers development rights for a sea-facing residential project at Marine Lines, South Mumbai, to Godrej Properties as part of a collaboration valued at revenue potential exceeding ₹6,000 crore. The company says the Marine Lines project spans about 2.5 acres and is positioned to benefit from connectivity in the city, including planned and existing transport corridors.
According to MICL and reports citing company filings, the development rights were earlier held jointly by MICL and Shreepati Group, and MICL had acted as the project’s development manager. Under the partnership, Godrej takes on development, while MICL receives a revenue-sharing arrangement and expects to recoup its existing investment of more than ₹300 crore. One outlet also notes joint branding as part of the agreement. MICL frames the move as unlocking the project’s “full potential” and enabling earlier cash flow realization for financial flexibility. Other reporting focuses more on project details such as location and estimated revenue scale.
