Key Event Details

On 22 July 2026 at approximately 10:40 am, Mahindra World City Developers Limited (MWCDL) - a material subsidiary of Mahindra Lifespace Developers Limited - along with Sumitomo Corporation, Japan and Mahindra Industrial Park Chennai Limited (MIPCL) - a subsidiary of MWCDL and step-down material subsidiary - executed a Second Supplemental Agreement.

Parties Involved

The agreement was executed among:

  • Sumitomo Corporation (SC), Japan
  • Mahindra World City Developers Limited (MWCDL)
  • Mahindra Industrial Park Chennai Limited (MIPCL)

Collectively referred to as "JV Partners" in the document.

Purpose of Agreement

The Supplemental Agreement records the parties' intention to collaborate and further expand the existing Industrial Park in the State of Tamil Nadu, India by developing Phase 2B in Chennai (the "Project").

This Agreement is an extension of:

  • Joint Venture Agreement dated 28 May 2015 (including amendments undertaken from time to time)
  • First Supplemental Agreement dated 22 November 2024

Under these previous agreements, the parties have jointly developed Phase 1 and Phase 2A of the Project, respectively.

Ownership Structure

Mahindra Lifespace Developers Limited holds 89% of total equity share capital of MWCDL, which represents a 89:11 Joint Venture between the Company and Tamil Nadu Industrial Development Corporation Limited (TIDCO).

MWCDL holds 60% of total equity shareholding of MIPCL, with the balance 40% held by Sumitomo Corporation, Japan.

Significant Terms

Each JV partner has the right to appoint directors in accordance with the Joint Venture Agreement dated 28 May 2015 including amendments undertaken from time to time. MWCDL shall have the right to nominate majority of Directors on the Board of MIPCL. The other terms and conditions would be governed by the Second Supplemental Agreement including any amendment thereof from time to time.

Related Party Transaction Status

The transaction qualifies as a related party transaction since MWCDL is a subsidiary of Mahindra Lifespace Developers Limited and MIPCL (a joint venture between MWCDL and SC) is a subsidiary of MWCDL and step-down subsidiary of the Company.

The terms and conditions captured in the Supplemental Agreement are as mutually agreed between the Parties. Any transaction undertaken in pursuance thereto shall be undertaken in compliance with the applicable laws and on an arm's length basis.

Additional Details

  • Date of agreement execution: 22 July 2026
  • Share issuance: Not applicable (no shares issued under this agreement)
  • Regulatory reference: SEBI Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January 2026
  • Disclosure compliance: Regulation 30 of SEBI Listing Regulations