Shares of Mahindra Lifespace Developers Ltd witnessed a sharp rally of over 10% in Wednesday’s trade after the company announced its partnership with Livingstone Infra Private Ltd for a prestigious cluster redevelopment project in Mahalaxmi, Mumbai. The project, with a gross development value (GDV) of Rs 1,650 crore, marks Mahindra Lifespace’s significant foray into South Mumbai’s premium real estate market.
Following the announcement, Mahindra Lifespace stock surged 10.12% to Rs 343.20, touching a fresh high. This comes as a positive turnaround for the stock, which had previously hit its 52-week low of Rs 300.05 on March 17.
Landmark Mahalaxmi Redevelopment Project
The Mahalaxmi redevelopment project is set to redefine South Mumbai’s skyline. Located in one of the city’s most upscale and well-connected neighborhoods, the project will bring in modern residences, premium amenities, and sustainable design features. With its exceptional connectivity, the Mahalaxmi location ensures seamless access to Mumbai’s major business districts, healthcare facilities, educational institutions, and leisure hubs.
Amit Kumar Sinha, Managing Director & CEO of Mahindra Lifespace Developers, highlighted the strategic importance of the project. He said, “This redevelopment represents our expansion into South Mumbai’s premium market. We aim to deliver residences that not only provide luxury living but also contribute to Mumbai’s ongoing urban renewal.”
Expansion in Tamil Nadu
In another significant development, Mahindra Lifespaces announced that its material subsidiary has executed a Lease Deed with Nihon Parkerizing India for a land parcel measuring 18.92 acres at Thenmelpakkam Village, Chengalpattu District, Tamil Nadu. This move strengthens the company’s presence in the industrial and commercial real estate sector, diversifying its portfolio beyond residential projects.
Strong Investor Sentiment
The dual announcements have boosted investor confidence, reflecting Mahindra Lifespace’s growth strategy across both residential and industrial segments. The focus on urban redevelopment in South Mumbai and industrial expansion in Tamil Nadu underlines the company’s balanced approach towards long-term value creation.
With Mumbai’s Mahalaxmi area being one of the most desirable real estate destinations, industry experts believe that this project will further enhance Mahindra Lifespace’s brand value and market presence.
