man infraconstruction shareholders approved a combined final dividend of ₹0.90 per equity share for the financial year ended March 31, 2026, during its 24th Annual General Meeting (AGM) held on August 12, 2026. The meeting, conducted via Video Conferencing and Other Audio Visual Means (VC/OVAM), also addressed significant changes to the Board of Directors, including the retirement of Chairman Berjis Desai and the appointment of new independent oversight.

The AGM was chaired by Mr. Berjis Desai, who commenced the proceedings at 11:00 A.M. after confirming the quorum. The company complied with regulations issued by the Ministry of Corporate Affairs (MCA) and the Securities and Exchange Board of India (SEBI), allowing remote e-voting under Section 108 of the Companies Act, 2013, and Regulation 44 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Remote voting was available from August 9, 2026, at 9:00 A.M. to August 11, 2026, at 5:00 P.M., with additional e-voting facilities provided during the live meeting.

Key Resolutions Passed

Shareholders voted on six ordinary resolutions. The financial statements for FY26 were adopted without qualification, as both the Statutory Auditors' Report and Secretarial Auditors' Report contained no adverse comments or observations that would materially affect the company's functioning. The key outcomes included:

Board Composition Changes

The most notable structural change involves the departure of Mr. Berjis Desai, who retires by rotation. He did not offer himself for reappointment due to his new role as a Member of the National Commission on Minorities, appointed by the Government of India. Consequently, the vacancy created by his exit will not be filled immediately.

To maintain independent oversight, the shareholders approved the appointment of Mr. Rajiv N. Sheth (DIN: 00539774) as an Independent Director for an initial term of five years. Additionally, Mr. Ashok M. Mehta (DIN: 03099844), who was retiring by rotation, successfully sought reappointment to the Board.

Auditor and Compliance Updates

The company ratified the payment of remuneration to M/s. Shekhar Joshi & Co., Cost Accountants, serving as the Cost Auditors for the financial year ending March 31, 2027. The Chairman noted that the Annual Report 2025-26 and statutory registers were available for electronic inspection during the meeting. The voting results, along with the Scrutinizer's Report, are scheduled to be communicated to the National Stock Exchange of India Limited and BSE Limited within two working days of the AGM's conclusion.

Man Infraconstruction Limited launched Marina Vista, an ultra-luxury residential development in Pali Hill, Bandra (West), Mumbai, on August 10, 2026. The company reported securing a 30% pre-sales commitment at launch for the project, which has an estimated Gross Development Value (GDV) of over ₹500 crore. This strong initial response underscores sustained demand in Bandra (West), widely regarded as one of Mumbai’s most coveted residential micro-markets.

The disclosure was made pursuant to Regulation 30 of the SEBI (Listing Obligation and Disclosure Requirements) Regulations, 2015. The press release was submitted to the National Stock Exchange of India Limited and BSE Limited on August 10, 2026. Durgesh Dingankar, Company Secretary of Man Infraconstruction Limited, signed the filing.

Marina Vista is being developed through Atmosphere Homes LLP, an associate entity of the MICL Group. The site is fully vacated, and construction is currently underway. The project received its MahaRERA registration (PR1180002600763) in June 2026, preceding the launch by two months.

Manan Shah, Managing Director of MICL Group, attributed the launch success to the enduring appeal of the Pali Hill address. He noted that the rapid uptake reflects buyer confidence in the MICL brand and the company’s track record in delivering quality construction on time. The company intends to maintain this sales momentum as it advances the project.

Project Details

Market Position

Man Infraconstruction Limited operates through two primary verticals: Engineering, Procurement and Construction (EPC) and Real Estate Development. With six decades of experience in the EPC sector, including ports, roads, and industrial projects, the company leverages its construction management expertise in its real estate ventures. Marina Vista adds to the group’s portfolio of residential projects delivered across Mumbai, reinforcing its presence in prime locations such as Pali Hill, often referred to as part of Mumbai’s billionaire’s row.