Mumbai, April 1, 2025: Man Industries (India) Ltd (BSE: 513269, NSE: MANINDS) today announced the monetization of approximately 6 acres of land situated opposite D.Y. Patil Stadium, Navi Mumbai, owned by its wholly-owned subsidiary, Merino Shelters Private Limited. The transaction involves Paradise Green – Spaces LLP, part of the renowned Paradise Group.
Key Financial Highlights:
| Particulars | Details |
|---|---|
| Upfront Consideration | ₹70 Crores |
| Land Area Assigned | Approx. 6 Acres |
| Company's Share in Development | 30% (Approx. 4,50,000 sq. ft. RERA Carpet Area) |
| Monetization Value (Next 5–6 Years) | ₹650 – ₹700 Crores |
| Total Monetization Value | ₹720 – ₹770 Crores |
Subsidiary Financial Snapshot (FY2023–24):
- Revenue: ₹3.92 Lakhs
- Net Worth: ₹20,275.66 Lakhs (as of March 31, 2024)
Transaction Details:
The agreement, finalized on March 31, 2025, provides Paradise Green – Spaces LLP with the development rights for the Navi Mumbai plot. As part of the deal, Man Industries will receive an upfront payment of ₹70 Crores and retain a 30% share of the developed property, translating into approximately 4,50,000 sq. ft. of RERA carpet area. The projected value of the developed area allocated to Man Industries ranges from ₹650 Crores to ₹700 Crores, with a total monetization potential estimated between ₹720 Crores and ₹770 Crores over the next five to six years.Paradise Group is a well-established entity in Navi Mumbai and Mumbai Metropolitan Region (MMR), having successfully completed over 8 million sq. ft. of projects, with an additional 30 million sq. ft. currently under development.
Management Commentary:
Rahul Rawat, Company Secretary of Man Industries (India) Ltd, remarked:"This strategic deal unlocks substantial value from our Navi Mumbai asset, significantly boosting liquidity and enhancing our ability to invest in growth areas. Collaborating with a reputed partner like Paradise Group provides assurance of timely and quality development."
Strategic Outlook:
This monetization aligns with Man Industries' strategy to unlock the latent value of non-core assets and strengthen its balance sheet. The move positions the company favorably to pursue growth opportunities and expand operations in its core business segments.Investor Implications:
The substantial cash inflow and future revenue potential from the developed area underscore a positive financial outlook, potentially enhancing shareholder value and providing additional capital to fund future strategic investments.