Mahindra Lifespaces closes deals worth ₹2,050 cr in Mumbai, Bengaluru

July 4, 2024

Mahindra Lifespace Developers, the real estate and infrastructure development arm of the Mahindra Group, has announced the closure of two deals in Mumbai and Bengaluru worth Rs 2050 crore in gross development value (GDV).

It has bagged a third redevelopment project in Mumbai with a revenue potential of ₹1,800 crore and acquired a prime land parcel in Bengaluru, from which it expects revenue of ₹250 crore.

Mahindra Lifespaces was chosen as the preferred partner for redeveloping seven residential societies in the Mumbai suburb of Borivali West. The project will be developed under the state’s cluster redevelopment policy, it said.

The company recently acquired 2.37 acres of land in Singasandra, south Bengaluru, located next to its existing Mahindra Zen project. The land, it added, has a developable potential of approximately 2.5 lakh square feet.

“Both deals align with our focus on high-potential markets and underscore Mahindra Lifespaces’ dedication to delivering quality living spaces across diverse urban landscapes. As we strengthen our presence in key markets, we remain poised for sustained growth and value creation in India’s dynamic real estate sector,” said MD & CEO Amit Kumar Sinha.

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