Mahindra Lifespaces Boosts Presence in Mumbai and Bengaluru with Two Major Deals
Mahindra Lifespaces strengthens its presence in Mumbai, Pune, and Bengaluru real estate market with two new deals worth ₹2,050 crore
Mahindra LifespacesReal EstateMumbaiBengaluruRedevelopment ProjectReal Estate PuneJul 04, 2024
The redevelopment project in Mumbai comprises seven residential societies in Borivali west, with an estimated GDV of approximately ₹1,800 crore. The project will be developed under the state's cluster redevelopment policy. This is Mahindra Lifespaces' third redevelopment project in Mumbai, reinforcing its commitment to urban renewal by creating value in established neighborhoods.
Apart from this, the company has also acquired 2.37 acres of land in Singasandra, South Bengaluru, located next to its existing Mahindra Zen project. The land is estimated to have a developable potential of approximately 0.25 million sq ft with a GDV of ₹250 crore.
Amit Kumar Sinha, Managing Director and CEO, Mahindra Lifespace Developers Ltd, said, 'These strategic moves in Mumbai and Bengaluru, with a combined GDV potential of ₹2050 crore, mark a significant milestone in our growth trajectory. Our third redevelopment project in Mumbai, with a GDV of ₹1800 crore, reinforces our commitment to urban renewal by creating value in established neighborhoods.'
Mahindra Lifespaces has been focusing on high-potential markets, including Mumbai, Pune, and Bengaluru, with a target to achieve a GDV of ₹45,000 crore in the coming years. The company's development footprint spans 37.33 million sq ft of completed, ongoing, and forthcoming residential projects across seven Indian cities.
Information Mahindra Lifespace Developers Ltd is a leading real estate developer in India, with a presence in seven cities. The company has a strong track record of delivering quality living spaces across diverse urban landscapes. With a focus on sustainability and customer-centricity, Mahindra Lifespaces is committed to creating value for its stakeholders.
Mahindra Lifespace Developers Ltd is a part of the Mahindra Group, a multinational conglomerate with a presence in over 100 countries. The group has a diverse range of businesses, including automotive, agriculture, aerospace, and more.
Frequently Asked Questions
What is the revenue potential of the two deals?
The combined revenue potential of the two deals is ₹2,050 crore.
What is the location of the redevelopment project in Mumbai?
The redevelopment project is located in Borivali west, Mumbai.
What is the estimated GDV of the redevelopment project in Mumbai?
The estimated GDV of the redevelopment project is approximately ₹1,800 crore.
What is the location of the land acquired by Mahindra Lifespaces in Bengaluru?
The land is located in Singasandra, South Bengaluru, next to the existing Mahindra Zen project.
What is the target GDV of Mahindra Lifespaces in the coming years?
The company is targeting a GDV of ₹45,000 crore in the coming years.
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