EPC firm Man Infraconstruction has informed exchanges that MICL Global has finalized an Operating Agreement and now has 25 per cent ownership stake in its subsidiary MICL TIGERTAIL LLC with an initial capital contribution of US$1000000. MICL TIGERTAIL LLC was incorporated last year as a joint venture entity in Miami Florida. The JV entity is a collaboration between MICL Global INC - a wholly owned subsidiary of Man Infraconstruction Ltd. The newly formed LLC focuses on real estate development and other permissible business activities marking a strategic expansion for the company. Earlier Nan Infraconstruction reported 88 per cent rise in standalone net profit at Rs 39.14 crore for December quarter on reduced expenses. It had posted Rs 20.76 crore profit in the year-ago period the company said in an exchange filing. Total income fell to Rs 116.65 crore from Rs 124.22 crore in October-December period a year ago. Expenses slipped to Rs 68.53 crore from Rs 95.77 crore. EPC firm Man Infraconstruction is into verticals like ports infrastructure commercial projects institutions IT projects and futuristic lifestyle houses. Earlier Jawaharlal Nehru Port Authority issued a Letter of Award (LoA) to Trident Agrocom Exports and Man Infraconstruction consortium for the development of a Rs 284-crore agro facility at its port. The consortium received the LoA on December 30 JNPA said. Once operational the export-import-cum-domestic agricultural commodity-based processing and storage facility coming up on a 27-acre land parcel within the port complex is expected to handle about 1.2 million tonnes of cargo annually. The facility will significantly contribute to the countrys agro trade by improving the processing storage and transportation infrastructure for agricultural commodities the port operator said.