Mahindra Lifespaces wins ₹2,050 Crore projects in Mumbai, Bengaluru

5 Jul 2024 , 11:06 AM

On Thursday (July 4), Mahindra Lifespace Developers Ltd announced the completion of two large deals for ₹2,050 Crore in gross development value.

The first big deal involves Mahindra Lifespaces being chosen as the preferred partner for redeveloping seven residential societies in Mumbai’s exclusive Borivali West district.

Mahindra Lifespaces has been chosen as the preferred partner for the rehabilitation of seven residential societies in the famous Borivali West district of Mumbai. This project has an estimated Gross Development Value of around ₹1,800 Crore. The project will be implemented in accordance with the state’s cluster redevelopment policy, according to the company’s stock exchange filing.

This project, at around ₹1,800 Crore, is the company’s third redevelopment venture in Mumbai. The reconstruction will be carried out in accordance with the state’s cluster redevelopment programme, and inhabitants will benefit from new and renovated living areas.

In addition to its success in Mumbai, Mahindra Lifespaces has purchased a premium 2.37-acre land piece in Singasandra, South Bengaluru. This new acquisition is close to the company’s existing Mahindra Zen project, which had a tremendous reception upon its introduction.

The company’s third redevelopment project in Mumbai, worth ₹1,800 Crore, demonstrates its commitment to urban rejuvenation by adding value to established communities. Our ₹250 Crore GDV land acquisition in Bengaluru’s Singasandra neighbourhood allows us to leverage the city’s strong real estate demand.

Mahindra Lifespaces is a significant real estate development company in India. We have projects throughout the country and offer thoughtfully planned living places. We believe in responsible, green design and development, and our objective is to achieve Sustainable Urbanisation.

At around 11.01 AM, Mahindra Lifespace was trading 1.89% lower at ₹2,848 per piece, against the previous close of ₹2,902.80 on NSE. The counter touched an intraday high and low of ₹2,886, and ₹2,840, respectively.

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