Man Infraconstruction Limited has announced a major expansion of its South Mumbai real estate portfolio, with an estimated gross development value exceeding Rupees 8,000 crore. The update, disclosed on April 29, 2026, highlights large-scale premium residential projects across key locations, reinforcing the company’s focus on luxury housing demand and high-value urban developments.

Man Infraconstruction Limited ( ($IN:MANINFRA) ) has issued an update. Man Infraconstruction Limited, through its MICL Group entity Man Aaradhya In...

In this briefing: India Office REITs - Evaluating the Sector as an Investment Opportunity Understanding US Debt Dynamics - Dissecting the $38t Debt Aequitas: PhonePe Pre-IPO - The Negatives - Near Term Growth Might Be Capped Pharmaceuticals: IPM: steady 11% growth in Jan-26 Man Infraconstruction Ltd - Q3FY26: Slower Momentum; Recovery Awaited 1. India Office REITs - Evaluating the Sector as an Investment Opportunity Structural demand tailwinds persist : Record leasing, GCC-led absorption, and preference for Grade-A assets support high occupancies, long WALEs, and predictable cash flows across India’s Office REIT universe. Sector offers scalable, income-led growth: ~133 msf REIT-owned stock, ~371 msf REITable pipeline, and supportive funding conditions provide visibility for steady distributions and medium-term NAV expansion REITs with longer lease tenures, diversified tenants, and conservative leverage such as Embassy and Knowledge Realty offer superior risk-adjusted outcomes versus acquisition-heavy peers. 2.

In this briefing: Understanding US Debt Dynamics - Dissecting the $38t Debt Aequitas: PhonePe Pre-IPO - The Negatives - Near Term Growth Might Be Capped Pharmaceuticals: IPM: steady 11% growth in Jan-26 Man Infraconstruction Ltd - Q3FY26: Slower Momentum; Recovery Awaited Arvind SmartSpaces Ltd - Q3FY26: Execution-Led Growth with Strengthening BD Momentum 1. Understanding US Debt Dynamics - Dissecting the $38t Debt Investors should not focus solely on the $38t in US public debt as it a headline figure over-reported and under- analysed Fears of using short-term debt as the main source of financing debt is misplaced. They are rolled over and do not 'add' to new debt unless deficits expand Teasury auction data does not show any signs of funding stress to date despite the widespread fears fanned by comments on Trump's fiscal policies 2. Aequitas: PhonePe Pre-IPO - The Negatives - Near Term Growth Might Be Capped Phonepe (PPL) is looking to raise up to US$1.35bn in its upcoming India IPO. PhonePe Ltd (PPL) is a fintech firm that builds digital platforms for payments services, digital distribution and financial services, offering consumer payments, merchant payments and lending and insurance distribution services.

In this briefing: Oyo Corp (9755 JP): Full-year FY12/25 flash update Toyo Engineering (6330 JP): Q3 FY03/26 flash update Seika Corp (8061 JP): Q3 FY03/26 Flash Update Aequitas: Deepway Technology Pre-IPO - Strong Topline Growth, But Still Unprofitable Man Infraconstruction Ltd - Q3FY26: Slower Momentum; Recovery Awaited 1. Oyo Corp (9755 JP): Full-year FY12/25 flash update Orders decreased by 3.3% YoY to JPY77.3bn, while revenue increased by 3.0% YoY to JPY76.3bn. Operating profit declined by 6.2% YoY to JPY4.1bn, with recurring profit down 6.8% YoY to JPY5.0bn. Dividend per share for FY12/25 and FY12/26 is JPY110.0, with a DOE target raised to 3%. 2. Toyo Engineering (6330 JP): Q3 FY03/26 flash update Orders increased 61.0% YoY, with significant contributions from petrochemical projects in India, Turkmenistan, and South Korea. Operating loss of JPY21.0bn due to profitability issues in Brazil; recurring loss of JPY15.8bn reported. Full-year forecast lowered: revenue expected at JPY185.

In this briefing: Aequitas: PhonePe Pre-IPO - The Negatives - Near Term Growth Might Be Capped Pharmaceuticals: IPM: steady 11% growth in Jan-26 Man Infraconstruction Ltd - Q3FY26: Slower Momentum; Recovery Awaited Arvind SmartSpaces Ltd - Q3FY26: Execution-Led Growth with Strengthening BD Momentum Genus Power Infrastructures Ltd - Q3 Sees Seasonal Moderation; Tendering Progress Will Be the Key 1. Aequitas: PhonePe Pre-IPO - The Negatives - Near Term Growth Might Be Capped Phonepe (PPL) is looking to raise up to US$1.35bn in its upcoming India IPO. PhonePe Ltd (PPL) is a fintech firm that builds digital platforms for payments services, digital distribution and financial services, offering consumer payments, merchant payments and lending and insurance distribution services. In this note, we talk about the not-so-positive aspects of the deal. 2. Pharmaceuticals: IPM: steady 11% growth in Jan-26 As per IQVIA, IPM recorded strong growth for Jan-26 at 11% YoY (vs 15% in Dec-25), units grew by 1.1% YoY (4.4%% in Dec-25).

In this briefing: Pharmaceuticals: IPM: steady 11% growth in Jan-26 Man Infraconstruction Ltd - Q3FY26: Slower Momentum; Recovery Awaited Arvind SmartSpaces Ltd - Q3FY26: Execution-Led Growth with Strengthening BD Momentum Genus Power Infrastructures Ltd - Q3 Sees Seasonal Moderation; Tendering Progress Will Be the Key Britannia Industries Ltd. - Margin Stability Powering a Sharper Growth Revival; Maintain BUY 1. Pharmaceuticals: IPM: steady 11% growth in Jan-26 As per IQVIA, IPM recorded strong growth for Jan-26 at 11% YoY (vs 15% in Dec-25), units grew by 1.1% YoY (4.4%% in Dec-25). Growth was led by CVS, anti-diabetes, CNS, VMN, and oncology segments, while growth in anti-infective, gastro, respiratory, derma, and pain grew at par or marginal below compared to IPM growth. Our view: IPM growth was steady at 11% YoY in Jan-26, largely led by price growth and traction in chronic therapies. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only.

In this briefing: Krafton (259960 KS) - Absorbing Seasonal Headwinds in 4Q Results Ho Chi Minh City Development JSCB (HDB VN) - Staying Resilient Man Infraconstruction Ltd - Q3FY26: Slower Momentum; Recovery Awaited Arvind SmartSpaces Ltd - Q3FY26: Execution-Led Growth with Strengthening BD Momentum Genus Power Infrastructures Ltd - Q3 Sees Seasonal Moderation; Tendering Progress Will Be the Key 1. Krafton (259960 KS) - Absorbing Seasonal Headwinds in 4Q Results 4Q25 OP came in at W84bn, missing consensus even after factoring in one-offs and ADK consolidation PUBG 1Q26 metrics are encouraging, but traditional peak seasonality alone looks insufficient to back annual PUBG growth Share price upside hinges on Subnautica 2 launch; new title momentum could build once launch schedule becomes clearer Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below. 2.

In this briefing: Krafton (259960 KS) - Absorbing Seasonal Headwinds in 4Q Results Ho Chi Minh City Development JSCB (HDB VN) - Staying Resilient Man Infraconstruction Ltd - Q3FY26: Slower Momentum; Recovery Awaited Arvind SmartSpaces Ltd - Q3FY26: Execution-Led Growth with Strengthening BD Momentum Genus Power Infrastructures Ltd - Q3 Sees Seasonal Moderation; Tendering Progress Will Be the Key 1. Krafton (259960 KS) - Absorbing Seasonal Headwinds in 4Q Results 4Q25 OP came in at W84bn, missing consensus even after factoring in one-offs and ADK consolidation PUBG 1Q26 metrics are encouraging, but traditional peak seasonality alone looks insufficient to back annual PUBG growth Share price upside hinges on Subnautica 2 launch; new title momentum could build once launch schedule becomes clearer Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below. 2.