Mahindra Lifespaces Developers Shares in Focus; Signs Supplemental Agreement to Expand Chennai Industrial Park

Mahindra Lifespace Developers Ltd. has informed the exchanges that its material subsidiary, Mahindra World City Developers Ltd. (MWCDL), along with Sumitomo Corporation, Japan, and Mahindra Industrial Park Chennai Ltd. (MIPCL), has executed a Second Supplemental Agreement to expand their industrial park project in Chennai, as per the exchange filings.  

Agreement to Develop Phase 2B of Chennai Industrial Park 

The Second Supplemental Agreement records the parties' intention to jointly develop Phase 2B of the existing industrial park in Tamil Nadu.  

The agreement extends the original Joint Venture Agreement signed in May 2015 and the first Supplemental Agreement executed in November 2024, under which the partners developed Phase 1 and Phase 2A of the project.  

Joint Venture Structure Remains Unchanged 

Mahindra Lifespace Developers holds an 89% stake in MWCDL through its joint venture with Tamil Nadu Industrial Development Corporation (TIDCO).  

MWCDL, in turn, owns 60% of Mahindra Industrial Park Chennai Ltd., while Sumitomo Corporation holds the remaining 40%.  

Governance Rights and Related Party Disclosure 

Under the agreement, each joint venture partner retains the right to appoint directors in accordance with the existing Joint Venture Agreement. MWCDL will continue to nominate the majority of directors on MIPCL's board.  

The company also clarified that the agreement qualifies as a related-party transaction, with all transactions to be undertaken in compliance with applicable laws and on an arm's length basis.  

Read More: RITES Share Price in Focus; Signs MoU with MECON to Explore Business Avenues! 

Mahindra Lifespace Developers Share Price Performance 

As of July 22, 2026, at 3:30 PM, Mahindra Lifespace Developers share price closed at ₹374.95 per share, reflecting a gain of 1.33% from the previous closing price. 

Conclusion 

The supplemental agreement marks the next phase of Mahindra Lifespaces' long-standing partnership with Sumitomo Corporation to expand the Chennai industrial park. The development of Phase 2B is expected to strengthen the project's scale and support future industrial and commercial growth in Tamil Nadu.  

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