MANINFRA

Man Infra share price & financials

Price
₹104.97
Market cap
₹4.6k Cr
Sector
Realty
Calls analysed
7
Latest concall · Q1 FY27 · call held 21 Aug 2026

Man Infra Q1 FY27

Revenue from Operations ₹218 cr +8%Profit After Tax ₹72 cr +29%

What went well

  • Consolidated revenue from operations grew by 8% year-on-year to ₹218 crores.
  • Profit after tax attributable to shareholders grew by 29% year-on-year to ₹72 crores.
  • Cash and cash equivalents surged to ₹768 crores as of June 2026, up from ₹686 crores at the end of the previous financial year.

What to watch

  • Q1 FY27 pre-sales of ₹290 crores were lower than the annual run rate needed to meet the two-year cumulative target of ₹5,000 crores.
  • Raw material costs (marble, tile, steel) have increased by 13-15%, potentially impacting margins if not passed on to customers.
Read the full call →

What Man Infra does

Man Infraconstruction Limited (MICL) operates in two segments: an in-house EPC (engineering, procurement, construction) business that built India's first private port at Nhava Sheva (1997) and has since executed container terminal works for global port operators such as DP World, APM Terminals/Maersk and PSA, alongside multi-sector construction for residential, commercial, institutional and industrial clients; and a residential and commercial real estate development business (flagship 'Aaradhya' brand) concentrated in Mumbai's suburbs, western suburbs and South Mumbai. It earns through EPC construction margins, real estate sale proceeds (in subsidiaries) or profit share (in joint ventures), development-management fees on GDV, and interest income on capital deployed into project entities. The company has recently added an ultra-luxury residential vertical ('MS Collection Residences') and, through a wholly owned Delaware subsidiary (MICL Global Inc.), taken a minority stake in a residential project in Miami Beach, Florida.

Segments

  • EPC (Engineering, Procurement & Construction)
  • Real Estate
Total construction area completed (EPC + Real Estate)
60+ million sq ft
Ports delivered
8, including India's first private port (Nhava Sheva, 1997)
Port infrastructure area developed
350+ hectares (completed + ongoing)
Projects delivered (EPC + Real Estate)
60+
Residential/commercial units completed
20,000+
In-house EPC engineering team
500+ engineers
Headquarters Chembur (West), Mumbai, Maharashtra, India Company website

Guidance record · Q1 FY27

what the last two calls moved 23 tracked 2 delivered 5 missed 16 open
  • FY25 Pre-sales Booking delivered said Q2 FY24 Promised: similar to more than INR1,000 crores Q1 FY27: Promise relates to FY25 performance, which was successfully achieved. No new update.
  • Goregaon Project Launch missed said Q2 FY24 Promised: Q2 next financial year (FY25) Q1 FY27: Promise was missed. No new update.
  • Vileparle Project Launch delayed said Q1 FY24 Promised: October latest by November (2023) Q1 FY27: Promise is complete, albeit with delays. The project (Jade Park) has now sold over 60% of inventory.

All 23 tracked — every revision, and every one management stopped mentioning.

Open the guidance ledger

Quarterly results

Q1 FY27: revenue up 4.0%, net profit down 1.6% against the same quarter last year.

₹ Cr · quarterly
Line itemQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26Q4 FY26Q1 FY27
Revenue71 86 131 99 58 −18%64 −26%65 −50%103 +4%
EBITDA14 20 21 27 11 −21%11 −45%13 −38%71 +163%
Net profit30 43 39 61 30 +0%30 −30%33 −15%60 −2%
How to read this

₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.

Performance −18.8% 1Y

₹80₹100₹120₹140₹160Sept 25Oct 25Dec 25Jan 26Mar 26Apr 26Jun 26Jul 26Sept 26Q4 FY26 — 18 May 2026Q1 FY27 — 21 Aug 2026

1Y: ₹156.16 on 10 Sept 2025 → ₹126.87. High ₹158.64 (19 Sept 2025), low ₹78.44 (30 Mar 2026).

How the price took the results

close before → close after

Q1 FY27
−1.5%
21 Aug
Q4 FY26
+1.2%
18 May

The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.

Financials, as filed

Revenue fell 43.3% a year over 3 years, FY23 to FY26. Operating margin widened to 21.7%.

Year endingFY23FY24FY25FY26
Revenue₹1.6k Cr₹708 Cr₹396 Cr₹286 Cr
Operating profit₹318 Cr₹160 Cr₹92 Cr₹62 Cr
Operating margin20.3%22.6%23.2%21.7%
Interest₹47 Cr₹5 Cr₹4 Cr₹5 Cr
Depreciation₹10 Cr₹8 Cr₹8 Cr₹10 Cr
Net profit₹228 Cr₹201 Cr₹150 Cr₹154 Cr
Net margin14.6%28.4%37.9%53.8%
Cash from operations₹25 Cr₹230 Cr₹15 Cr₹47 Cr
Free cash flow₹16 Cr₹222 Cr₹10 Cr₹33 Cr
ROCE20.0%21.0%13.0%11.0%
How to read this

From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.

Balance sheet

Year endingFY21FY22FY23FY24FY25FY26
Equity capital₹50 Cr₹74 Cr₹74 Cr₹74 Cr₹81 Cr₹81 Cr
Reserves₹881 Cr₹930 Cr₹1.1k Cr₹1.4k Cr₹2.1k Cr₹2.0k Cr
Borrowings₹0 Cr₹0 Cr₹11 Cr₹9 Cr₹31 Cr₹0 Cr
Other liabilities₹106 Cr₹105 Cr₹252 Cr₹169 Cr₹329 Cr₹120 Cr
Total liabilities₹1.0k Cr₹1.1k Cr₹1.4k Cr₹1.7k Cr₹2.5k Cr₹2.2k Cr
Fixed assets₹44 Cr₹41 Cr₹44 Cr₹46 Cr₹64 Cr₹49 Cr
Capital work in progress₹1 Cr₹2 Cr₹0 Cr₹0 Cr₹0 Cr₹0 Cr
Investments₹136 Cr₹152 Cr₹293 Cr₹473 Cr₹458 Cr₹866 Cr
Other assets₹856 Cr₹914 Cr₹1.1k Cr₹1.1k Cr₹2.0k Cr₹1.3k Cr
Total assets₹1.0k Cr₹1.1k Cr₹1.4k Cr₹1.7k Cr₹2.5k Cr₹2.2k Cr
How to read this

As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.

Who owns it

As disclosed at Jun 2026

Since Jun 2025, the public added +5.93 pp while promoters trimmed −2.58 pp. The shareholder count shrank 7% to 87,961.

Promoters
62.5%
FIIs
1.9%
DIIs
1.1%
Public
34.4%

Since Jun 2025

  • Public +5.93 pp
  • Promoters −2.58 pp
  • FIIs −2.36 pp

How it drifted, 12 quarters

Over this window the public went from 27.0% to 34.4% — +7.4 pp.

Sep '23Dec '24Jun '26

Ownership split by quarter, oldest first. Sep '23: Promoters 67.2%, FIIs 3.7%, DIIs 2.1%, Public 27.0%.Dec '23: Promoters 67.2%, FIIs 3.5%, DIIs 2.1%, Public 27.2%.Mar '24: Promoters 67.3%, FIIs 3.5%, DIIs 2.1%, Public 27.0%.Jun '24: Promoters 67.3%, FIIs 3.6%, DIIs 2.1%, Public 27.0%.Sep '24: Promoters 67.2%, FIIs 3.7%, DIIs 1.7%, Public 27.4%.Dec '24: Promoters 66.6%, FIIs 4.6%, DIIs 2.1%, Public 26.7%.Mar '25: Promoters 66.7%, FIIs 3.8%, DIIs 2.2%, Public 27.4%.Jun '25: Promoters 65.1%, FIIs 4.3%, DIIs 2.1%, Public 28.5%.Sep '25: Promoters 62.3%, FIIs 5.2%, DIIs 2.0%, Public 30.5%.Dec '25: Promoters 62.4%, FIIs 3.9%, DIIs 2.0%, Public 31.6%.Mar '26: Promoters 62.5%, FIIs 3.8%, DIIs 1.9%, Public 31.8%.Jun '26: Promoters 62.5%, FIIs 1.9%, DIIs 1.1%, Public 34.4%.

Who was buying across the market this quarter →

Who bought this quarter

since Mar 2026

Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.

The same filing shows 1 holder trimming and 0 off the list — both are in the register beside this.

Who is on the register

Named in the Jun 2026 filing

Every holder of Man Infra above SEBI's 1% disclosure line, and what changed since Mar 2026.

HolderStakeChange
Parag Kishor Shah 29.73%+0.07 pp
Mansi Parag Shah 14.80%unchanged
Manan Parag Shah 8.74%unchanged
Vatsal Parag Shah 8.67%unchanged
Suketu Ramesh Shah 1.86%unchanged
Berjis Minoo Desai 1.56%unchanged
Quant Mutual Fund - Quant Small Cap Fund - 2 Mutual fund1.13%−0.80 pp
Dhruvi Manan Shah 0.52%unchanged
Arhan Manan Shah 0.05%unchanged
Purvi Manish Shah 0.01%unchanged

A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.

All earnings calls (7)

Read the Q1 FY27 call →

Learn to analyse Man Infra

Guides on how to read this kind of business and the numbers that matter.