### **Overview** Meghna Infracon Infrastructure Ltd. (MIIL), formerly known as Naysaa Securities Ltd., has undergone a strategic business transformation from a financial services provider to a **full-fledged real estate developer** focused on the **residential real estate sector in Mumbai**, particularly in **Western Mumbai** and **South Mumbai**. Under the leadership of **Managing Director Mr. Vikram Jayantilal Lodha**, the company is positioning itself as a premium, quality-driven developer with a focus on **timely project delivery, modern design, and strategic location selection**. The company has successfully delivered multiple residential projects and is expanding rapidly through land redevelopments, strategic acquisitions, and entry into high-growth micro-markets in Mumbai. --- ### **Strategic Focus & Market Positioning (2024–2025)** - **Shift from Financial Services to Real Estate:** Transitioned from its legacy as **Naysaa Securities Ltd.** (incorporated in 2007, public since 2014) to focus exclusively on **real estate development** starting around 2022–2023. This pivot leverages leadership experience in urban development and capital markets. - **Premium Market Targeting:** Actively expanding in **premium and high-visibility locations** including Goregaon, Andheri, Santacruz, and now **South Mumbai (Prabhadevi)**. Projects are designed to cater to luxury and mid-luxury segments with superior amenities and sustainable features. - **Growth through Redevelopment & Land Acquisition:** Pursuing a strategy of **strategic land parcel acquisition** and redevelopment agreements, leveraging Mumbai’s evolving urban landscape and infrastructure upgrades. - **Strong Brand & Operational Execution:** Recognized for **high construction quality**, **design innovation**, and **timely delivery**—evidenced by delivering projects **15 months ahead of RERA timelines**. - **In-House Expertise:** Boasts **end-to-end in-house capabilities** in construction management, development, and project execution. - **Sustainability & Quality Standards:** Holds **ISO 9001:2015 (Quality Management)** and **ISO 14001:2015 (Environmental Management)** certifications, aligning with global standards in real estate development. --- ### **Key Projects & Recent Developments (2024–2025)** | **Date** | **Project** | **Location** | **Details** | |----------------|--------------------------|-------------------------------|-----------| | **Jun 2025** | Prabhadevi Redevelopment | **Prabhadevi, South Mumbai** | Est. construction area: **31,000 sq. ft.**; Expected revenue: **₹800 million**. Sea-facing luxury units near Shivaji Park & railway station. Marks entry into premium South Mumbai. | | **Jul 2025** | Santacruz West Redevelopment | **Santacruz West** | Est. area: **28,000 sq. ft.**; Revenue potential: **₹370 million**. Proximity to schools, hospitals, and commercial hubs. Scheduled for launch in **2025**. | | **May 2025** | **Shree Pranam** | **Lokhandwala, Andheri (W)** | Revenue revised upward from ₹400M to **over ₹600M** due to favorable policy changes. Built on a 35,000 sq. ft. redeveloped parcel. | | **Feb/Dec 2024**| **Riviera** | **Goregaon (W)** | ~30,000 sq. ft. built-up area; Revenue: **>₹220 million**. Executed via subsidiary **Meghna Aakar Constructions (95% owned)**. | | **Aug 2024** | **Rivaan** (Major Launch) | **Goregaon West** | Development area: **95,000–100,000 sq. ft.**; Achieved **~25% sell-out within 6 months**, indicating strong market response. Features 1 & 2 BHK units and commercial spaces. Innovative community-living concept. | | **May 2024** | **Ashraya Heights** (Delivered) | **Goregaon East** | First completed project—delivered **15 months ahead of RERA schedule**, obtained **Occupancy Certificate (OC)**. Located opposite Goregaon Gymkhana. | --- ### **Subsidiaries & Operational Models** - **Meghna Aakar Constructions (95% owned):** Executes key projects including *Riviera*. - **Meghna Developers AOP (90% stake):** Handled construction for early project *Manju Villa* (Goregaon, Sep 2024). - Use of associate entities and subsidiaries to manage development, allowing for focused execution and risk mitigation. --- ### **Strategic Growth Enablers** 1. **Urban Infrastructure Development in Mumbai:** Major city projects—**Coastal Road**, **Metro Rail**, and **Trans-Harbour Link**—are enhancing connectivity and opening **new micro-markets**. MIIL is strategically positioned to benefit from rising demand in newly accessible areas. 2. **Focus on High-Growth Micro-Markets:** Expansion into **Dadar/Prabhadevi** and redeveloping in central hubs reflects intent to capture value in emerging and well-connected zones. 3. **Annuity & Sustainable Growth Focus:** Exploring **annuity-generating assets** and **sustainable design features** in new developments to ensure long-term value creation. 4. **Customer & Brand Resonance:** 25% **inventory sell-out rate across completed projects** demonstrates brand trust and market acceptance. Fast sales velocity in *Rivaan* underscores confidence in MIIL’s offerings. --- ### **Past Financial Services Operations (As of 2022)** Prior to its pivot, MIIL (as Naysaa Securities) operated as a **BSE-registered equity broker** with services including: - Cash and derivatives trading (F&O) - IPO participation - Portfolio and investment advisory - Loan against securities, fixed deposits, bonds Although no longer active in this segment, the company’s **legacy in capital markets and risk management** has informed its disciplined financial and operational approach in real estate.