Mahindra Lifespace

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Real estate developer Urbanrise has acquired a land parcel of 9.24 acre from Mahindra Life Spaces to develop a two million sq ft luxury highrise apartment community at Mahindra World City in Singaperumal Koil town about 45 km from here, the company said on Friday. The Alliance Group company's latest project is located near Chennai's satellite town of Maraimalai Nagar. The real estate developer plans to invest Rs 700 crore in this project, which has an estimated revenue potential of Rs 1,200 crore, a company statement said here. "Urbanrise has projects in all major neighbourhoods in and around Chennai city, and with this new project we will reach out to the aspiring home-buying community in and around Mahindra World City on GST Road," Urbanrise Chairman and Managing Director Manoj Namburu said. "We are extremely excited about this acquisition and are looking forward to developing a world-class residential community," he said.

In the residential segment, the company has set a target of increasing the annual sales of Rs 2,500 crore by 2025, from around Rs 1,000 crore last financial year

Godrej Properties, DLF and Mahindra Lifespace Developers were down 3 per cent, while Macrotech Developers (Lodha), Sobha, Oberoi Realty, Indiabulls Real Estate and Prestige Estates fell 1-2 per cent

The project is located just off Hosur Road and offers access to well-developed social infrastructure with educational institutes, healthcare facilities, and retail avenues in proximity

Realty firm Mahindra Lifespace Developers Ltd has completed the acquisition of a 9.24-acre land parcel in Mumbai from Mahindra & Mahindra Ltd for Rs 365 crore. In February this year, Mahindra Lifespace had announced that it would purchase the land in Kandivali, Mumbai from Mahindra & Mahindra Ltd for the development of a housing project. Mahindra & Mahindra is the promoter and holding company of Mahindra Lifespace Developers. The aggregate consideration for this land deal is Rs 365 crore (subject to actual land area survey, deduction of TDS and applicable taxes), to be paid in tranches and interest of 7 per cent per annum payable during the interim period of payment on unpaid principal balance from the sale date. The transaction is at arm's length, it had said. In a regulatory filing on Thursday, Mahindra Lifespace said the "company and M&M Ltd, on Thursday have consummated the said transaction by executing a deed of conveyance for the said property." Mumbai-based ...

Realty firm Mahindra Lifespace Developers' sale bookings rose 32 per cent to Rs 399 crore during September quarter 2022-23 on better housing demand. Its sale bookings stood at Rs 303 crore in the year-ago period, according to an investors' presentation. Mahindra Lifespace, a part of business conglomerate Mahindra Group, reported an over two-fold jump in sale bookings at Rs 1,001 crore for April-September 2022-23 from Rs 449 crore in the year-ago period. The company had achieved sale bookings of Rs 1,028 crore in the housing segment in 2021-22. Mahindra Lifespace has almost reached the last year's number in six months only and hence it is expecting a significant growth in 2022-23. The company does not provide annual sale bookings guidance. However, Mahindra Lifespace is targeting a 2.5-fold jump in annual sale bookings at Rs 2,500 crore in next three years from Rs 1,028 crore in last financial year. Last week, the company - one of the leading real estate developers in the country

In a Q&A, Arvind Subramanian says his firm hopes to achieve Rs 2,500 crore residential sales a year and industrial leasing of Rs 500 crore by 2025

The company has also set a target of achieving annual residential sales of Rs 2500 crore and annual leasing of Rs 500 cr

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Realty firm Mahindra Lifespace Developers Ltd on Thursday announced a joint venture with Actis to develop industrial and logistics facilities with an initial investment of Rs 2,200 crore. Actis is a global investment firm. In a regulatory filing, Mahindra Lifespace informed that the company has executed definitive documents to establish joint ventures with Actis for developing industrial and logistics real estate facilities across India. Mahindra Lifespace or its affiliates and Actis or its affiliates will jointly invest in asset owning SPVs (special purpose vehicles) and in an entity that will provide business services to the asset owning SPVs. The company may own stakes in the range of 26 per cent to 40 per cent in these entities, and the balance will be owned by Actis or its affiliates. Both partners have earmarked up to 100 acres of land across Mahindra World Cities as seed assets to be acquired by the asset owning SPVs during the course of arrangement. In addition, the two J

Realty firm Mahindra Lifespace Developers is looking to acquire a few land parcels this fiscal to build housing projects with sales potential of Rs 3,000-4,000 crore, a top company official said. The company will acquire these land parcels either through outright purchase or by forming Joint Development Agreements (JDAs) with landowners. Mumbai-based Mahindra Lifespace Developers Ltd, part of Mahindra Group, is one of the leading real estate players in the country. The company's market cap recently touched USD 1 billion (about Rs 8,000 crore). In an interview with PTI, the company's Managing Director (MD) and Chief Executive Officer (CEO) Arvind Subramanian said Mahindra Lifespace is looking to acquire new land parcels for business expansion in three focus cities -- Mumbai Metropolitan Region (MMR), Pune and Bengaluru. He highlighted that the company already acquired a land parcel this fiscal that has a Gross Development Value (GDV) of Rs 1,700 crore and the deal pipelines are ...

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Realty firm Mahindra Lifespace Developers Ltd is targeting a 2.5-fold jump in its annual sales bookings to Rs 2,500 crore in the next three years on better housing demand, its MD and CEO Arvind Subramanian has said. Mumbai-based Mahindra Lifespace had achieved sales bookings of Rs 1,028 crore in the last financial year. In an interview with PTI, the company's Managing Director (MD) and Chief Executive Officer (CEO) Arvind Subramanian said: "We have started the first quarter with an extremely strong performance on all fronts". The company clocked Rs 600 crore of residential sales during the April-June quarter of the 2022-23 fiscal year against Rs 1,000 crore in the full previous year, he highlighted. The collections from customers were also healthy at about Rs 270 crore, while industrial leasing was worth Rs 118 crore in the June quarter. "The first quarter has set us up very well for the year. We are expecting very strong continued growth in quarter two and the rest of the year as

Nanda joined the Mahindra Group in 1973 and has held several important positions within the group over the years

Mahindra Lifespace hit a record high of Rs 439.85 and surged 6% on expectation of favorable demand situation in the Indian real estate sector.

Loyalie had in January raised Rs 5 crore from investors, including Inflection Point Ventures, to expand and grow its business

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Nykaa slips 7.5% on 59% drop in Q3 net profit; Mahindra Lifespaces rallies 20% on plan to buy M&M land; Solara Active Pharma tanks 20% on weak Q3 results; Govt likely weighing 5% stake sale in LIC IPO

Realty firm Mahindra Lifespace Developers Ltd on Tuesday reported a consolidated net profit of Rs 13.23 crore for the quarter ended September on rise in total income. The company, which is a part of the Mahindra group, had posted a net loss of Rs 13.48 crore in the year-ago period. Total income for the second quarter rose to Rs 65.70 crore from Rs 37.42 crore in the corresponding period of the previous year, according to a regulatory filing. The consolidated PAT, after non-controlling interest, stood at Rs 6.52 crore for the quarter ended September as against a loss of Rs 13.33 crore in Q2 of FY21. Arvind Subramanian, Managing Director & Chief Executive Officer, Mahindra Lifespace Developers Ltd, said, "We have seen encouraging demand growth in both our residential and industrial parks businesses in Q2 FY22. Further, project execution has gained pace." The response to the launch of its first Mahindra Happinest project at Mahindra World City, Chennai has been very heartening, he ..

The company, which lagged peers Godrej Properties and Prestige Estates Projects, seeks to invest Rs 500 cr every year in buying land parcels for new projects