Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has closed two deals with a Gross Development Value (GDV) of Rs 2050 crore, the company said on July 4.
The strategic moves include securing a third redevelopment project in Mumbai and acquiring a prime land parcel in Bengaluru.
In Mumbai, the company bagged redevelopment of seven residential societies in the upscale Borivali West neighbourhood. The project offers an estimated Gross Development Value of Rs 1800 crore. The project will be developed under the state’s cluster redevelopment policy, the company said.
In South Bengaluru, Mahindra Lifespace acquired 2.37 acres of land in Singasandra. The land is estimated to have a developable potential of about 0.25 million square feet, with a Gross Development Value of around Rs 250 crore.
“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," Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said.
In April, the company bagged another redevelopment project in Mumbai's Malad (West). The project has a revenue potential of around Rs 850 crore. And last year, the company was selected to redevelop two adjacent residential societies in Santacruz West.
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