MAN Industries India, a line pipe manufacturer and part of UKs MAN Group, today announced its foray into real estate with a newly formed subsidiary MAN Infraprojects in Mumbai, where property prices have almost doubled in the last two years.
MAN Infraprojects plans to develop seven realty projects with a toal of 10 million sq ft in the next five years. The project cost would be more than Rs 4,000 crore, MAN said today.
We have developed nearly 50 projects in Mumbai in the past and bought these plots in the last two years. We thought it is the right time to launch these projects, said RC Mansukhani, chairman of MAN Infraprojects.
More : business-standard.com
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