Man Infraconstruction Limited (MICL Group) has received the Intimation of Approval (IOA) for its Tardeo 2.0 redevelopment project in South Mumbai, marking a key step toward the project's execution and launch.

The approval will allow the company to proceed with vacating the premises, demolition preparations, and obtaining the remaining regulatory clearances required before launch.

The project has an estimated Gross Development Value (GDV) of over Rs 2,000 crore and is targeted for launch in FY27. Spread across approximately 46,000 sq. ft. in the premium Tardeo locality, the development is expected to further strengthen MICL's presence in South Mumbai's luxury residential market.

According to the company, Tardeo 2.0, along with its Aaradhya Avaan and Marine Lines projects, represents a combined GDV potential of over Rs 8,000 crore, providing strong visibility for its future growth pipeline.

The project will be developed through Man Aaradhya Infraconstruction LLP, in which MICL Group holds a 50.5% equity stake.