Mahindra Lifespace Developers

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.

The Mahindra Group has appointed Amit Kumar Sinha as the new MD & CEO from May 23, 2023

Realty firm Mahindra Lifespace Developers Ltd on Thursday reported a 33 per cent increase in its consolidated net profit at Rs 33.21 crore for the quarter ended December. Its net profit stood at Rs 25.02 crore in the year-ago period. Total income rose sharply to Rs 198.14 crore in the third quarter of the current financial year from Rs 33.32 crore a year ago, according to a regulatory filing. Net profit during the April-December period of this fiscal jumped to Rs 100.88 crore from Rs 17.67 crore in the corresponding period of the previous year. Total income also rose to Rs 389.30 crore in the first nine months of FY23 from Rs 253.22 crore in the same period last year. Mahindra Lifespace, which is part of Mahindra Group, is one of the leading real estate firms in the country.

With the current addition, it has exceeded its guidance of land bank addition worth Rs 2,500 crore of development value, every year for FY23, ICICI Securities said.

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 on Friday said it has acquired 4.25 acre land in Bengaluru to develop a housing project and is expecting revenue of around Rs 400 crore from this property. The company expects to launch the first phase of the project within the calendar year 2023. In a regulatory filing, Mahindra Lifesapce, the real estate and infrastructure development arm of the Mahindra Group, informed that it has purchased 4.25 acres of land in Singasandra, South Bengaluru. The land is estimated to have a developable potential of around 4.6 lakh square feet of saleable area and a Gross Development Value (GDV) of about Rs 400 crore primarily comprising of premium residential apartments, it added. Arvind Subramanian, Managing Director & CEO of Mahindra Lifespace Developers, said, "Bengaluru is a key growth market for our residential business, and we are happy to add this new project to our portfolio." "This will be our third project in Bengaluru...This latest ...

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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

Major stake of the joint venture's total investment is to be acquired by Actis. Over the initial years, total investment is to be estimated at Rs 2,200 crore including debt

Shares of Mahindra Lifespace Developers pared most of its initial gains and settled with marginally higher on the bourses on Monday. The scrip opened at Rs 541.95 and later rose 2.37 per cent to touch Rs 550.40, its 52-week high level on BSE. However, it shed the gains and ended the day 0.35 per cent higher at Rs 539.55. Similar movement was seen on the NSE as well. The stock opened at Rs 539 and ended the day at Rs 540, higher by 0.78 per cent over its previous close. Meanwhile, the 30-share benchmark index Sensex closed higher by 321.99 points or 0.54 per cent at a three-week high of 60,115.13 points. The company's Managing Director and Chief Executive Officer Arvind Subramanian has said it 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 pipe

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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 ...

After working for 50 years in various capacities in the Mahindra group, Nanda retired as the Chairman of Mahindra Lifespaces last week

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Its consolidated total income stood at Rs 408.2 crore in the last fiscal, against Rs 187.8 crore FY21, according to a regulatory filing

M&M said it will not have any impact on the operations of the company as no operations of the Auto and Farm Sectors are carried out on the land being sold.

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The board at its meeting scheduled on Wednesday, July 28, 2021, will consider the proposal for the issuance of bonus equity shares

Analysts expect its sales bookings value to grow 39 per cent on compound annual growth rate (CAGR) basis between FY21 and FY25