Regulatory Disclosure Details

Acquisition Details

Mahindra Lifespace Developers Limited has acquired a 15-acre open greenfield land parcel located in Kandivali East, Mumbai. The acquisition was made through a competitive bidding process.

Project Development Metrics

The acquired land parcel has:

  • Development potential: Approximately 1.8 million square feet
  • Estimated Gross Development Value (GDV): Approximately ₹5,600 crore

Strategic Rationale

According to Vimalendra Singh, Chief Business Officer – Residential, the acquisition:

  • Adds to the company's growing Mumbai portfolio
  • Builds on the success of Mahindra Vista in the Kandivali micro-market
  • Strengthens presence in one of Mumbai's most promising residential destinations
  • Aligns with strategy of expanding in markets with strong end-user demand and long-term growth potential

Location Advantages

The Kandivali East location offers:

  • Excellent connectivity to Western Express Highway
  • Access to existing metro corridors
  • Established social infrastructure including schools, hospitals, and retail hubs
  • Strong residential absorption driven by end-user demand
  • Future accessibility enhancement from upcoming Borivali–Thane Twin Tunnel infrastructure project

Company Background Context

Mahindra Lifespaces is the real estate and infrastructure development arm of the Mahindra Group, established in 1994. The company has:

  • Development footprint spanning 53.65 million sq. ft. (saleable area) of completed, ongoing and forthcoming residential projects across seven Indian cities
  • Over 5000 acres of ongoing and forthcoming projects under development/management at integrated developments/industrial clusters across four locations
  • Portfolio includes premium residential projects, value homes under 'Mahindra Happinest®' brand, and integrated cities/industrial clusters

Environmental Commitment

The company is a pioneer in Net Zero homes in India and has committed to:

  • Building only Net Zero homes from 2030 onwards
  • Already launched India's first three Net Zero residential developments
  • Maintaining 100% Green portfolio since 2014
  • Working towards carbon neutrality by 2040

Documentation

The press release is attached to the regulatory filing and is also available on the company's website at http://www.mahindralifespaces.com.