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Mahindra Lifespace Wins Redevelopment Project in Mumbai Worth ₹950 Crore

Written by: Team Angel OneUpdated on: Feb 4, 2025, 2:34 PM IST
Mahindra Lifespace Developers Ltd. has secured a ₹950 crore redevelopment deal for three Mumbai housing societies.
Mahindra Lifespace Wins Redevelopment Project in Mumbai Worth ₹950 Crore
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Mahindra Lifespace Developers Limited (MLDL), a distinguished real estate arm of the Mahindra Group, stands as a formidable player in India’s property market. The company is renowned for crafting vibrant residential communities, integrated business hubs, and premium commercial spaces, catering to diverse segments, from opulent luxury homes to affordable housing solutions.

About Redevelopment Project

On February 3, 2025, MLDL proudly announced its appointment as the lead developer for an ambitious redevelopment project at the prestigious Lokhandwala Complex in Andheri West, Mumbai. With an estimated Gross Development Value (GDV) of approximately ₹950 crore, this landmark project signifies MLDL’s fourth major redevelopment initiative in Mumbai. 

It encompasses the transformation of three residential societies under Maharashtra’s cluster redevelopment policy and enjoys superb connectivity, being just 15 minutes from the upcoming Versova-Bandra Sea Link.

MLDL Other Projects

Throughout the fiscal year, MLDL made monumental strides by adding a substantial GDV of ₹15,000 crore across four prime locations in India. Among its most noteworthy acquisitions was a 36.9-acre parcel in Bhandup, Mumbai, valued at a staggering ₹12,000 crore, which is slated for phased development.

In July 2024, the company secured 3.7 acres in Borivali West, Mumbai, marking its third redevelopment venture in the city with a GDV of ₹1,800 crore. Simultaneously, it acquired 2.4 acres in Bengaluru’s bustling Electronic City (₹250 crore GDV), adjacent to the Mahindra Zen project. Furthering its strategic expansion, MLDL procured an 8.2-acre site near Bengaluru Airport in January 2025, boasting a GDV of ₹1,000 crore, ideally positioned near key IT hubs.

Mahindra Lifespace Q3 FY25 Results

Financially, the company has demonstrated remarkable revenue growth, leaping from ₹82 crore in Q3 FY24 to ₹167 crore in Q3 FY25—a substantial rise of 249.33%. However, despite this impressive surge, MLDL reported a net loss of ₹22 crore in Q3 FY25 compared to a net profit of ₹50 crore in the same period the previous year.

Share Price Performance 

At 11:45 AM today, Mahindra Lifespace Developers Ltd. shares traded at ₹393.95 per share on the NSE.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.

Published on: Feb 4, 2025, 2:34 PM IST

Team Angel One

Team Angel One is a group of experienced financial writers that deliver insightful articles on the stock market, IPO, economy, personal finance, commodities and related categories.

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