Published On:February 4 2025
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Mahindra Lifespace Secures ₹950 Crore Redevelopment Project in Mumbai.

Mahindra Lifespace Secures ₹950 Crore Redevelopment Project in Mumbai.

Realty firm Mahindra Lifespace Developers announced recently that it has secured a redevelopment project in Mumbai, with an estimated revenue potential of ₹950 crore from the saleable area.

In a regulatory filing, Mahindra Lifespace stated that it has been appointed as the developer for a redevelopment project in Lokhandwala Complex, Andheri West, Mumbai. The project offers a Gross Development Value (GDV) of approximately ₹950 crore and is part of Maharashtra's cluster redevelopment policy. The company has now secured four redevelopment projects in Mumbai.

Mahindra Lifespace has been selected as the preferred partner for the redevelopment of three residential societies together.

Amit Kumar Sinha, Managing Director & CEO of Mahindra Lifespace, commented, “This strategic move strengthens our presence in the western suburbs of Mumbai. This project is in a prime location, which is well connected and offers a great lifestyle. It will be a premium development.”

Financial Performance

Recently, Mahindra Lifespace reported a consolidated net loss of ₹22.47 crore for the quarter ended December 31, 2024, compared to a net profit of ₹50.02 crore in the same period last year.

Total income for the third quarter of this fiscal surged to ₹185.77 crore from ₹88.77 crore in the corresponding period of the previous year, while total expenses rose to ₹200.88 crore from ₹125.12 crore.

Business Overview

Mahindra Lifespace is the real estate and infrastructure development arm of the Mahindra Group. The company's development portfolio spans 39.44 million square feet (saleable area) of completed, ongoing, and upcoming residential projects across seven Indian cities. Additionally, it has over 5,000 acres of ongoing and forthcoming projects in integrated developments and industrial clusters across four locations.

HBL





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