{
  "id": 10370252,
  "title": "MICL transfers Marine Lines development rights to Godrej Properties in ₹6,000-crore revenue deal",
  "url": "https://urgent.news/2026/09/28/micl-transfers-marine-lines-development-rights-to-godrej-properties",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-28T04:55:13.000Z",
  "source": {
    "name": "Hindu BusinessLine",
    "slug": "hindu-businessline",
    "url": "https://www.thehindubusinessline.com/news/real-estate/micl-transfers-marine-lines-development-rights-to-godrej-properties-in-6000-crore-revenue-deal/article71518363.ece"
  },
  "original_language": "en",
  "account": "Man Infraconstruction Limited (MICL) has signed a revenue-sharing deal with Godrej Properties Group for a high-end residential project situated at Marine Lines in South Mumbai. The agreement involves the transfer of development rights from MICL, which previously managed the project alongside the Shreepati Group, to Godrej Properties. The project, spread over 2.5 acres and boasting Arabian Sea views, is expected to generate over ₹6,000 crore in revenue. MICL's Managing Director, Manan Shah, stated that the early cash infusion from this deal will provide the company with greater financial flexibility to explore new development opportunities in Mumbai, while still reaping benefits through the revenue-sharing arrangement with Godrej. The project's stock price slightly declined by 0.12 per cent to ₹129.80 in early Monday trading, with a 52-week range of ₹77.12 to ₹153.80 and a market capitalisation of around ₹5,237 crore. MICL operates in two sectors: Engineering, Procurement, and Construction (EPC) and Real Estate Development, boasting six decades of experience in various construction segments.",
  "summary": "MICL, which previously held the role of Development Manager for the project, has now transferred the development rights, jointly held with Shreepati Group, to Godrej Properties",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Free Press Journal",
        "title": "Godrej Properties Enters Marine Lines, South Mumbai; Expects ₹6,000 crore Revenue From New Luxury Project",
        "url": "https://urgent.news/2026/09/28/godrej-properties-enters-marine-lines-south-mumbai-expects-6-000",
        "published": "2026-09-28T04:20:08.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}