"Mahindra Lifespace Commits ₹6,000 Crore Investment in Residential Business by FY28"

Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has announced plans to invest approximately Rs. 6,000 crore in its residential business over the next four years.

The strategic move is aimed at driving significant growth in the company's residential business, with a targeted increase in revenue from Rs 2,268 crore to Rs 8,000 crore by the financial year 2028. As part of this expansion plan, Mahindra Lifespace Developers aims to introduce a pipeline of projects with a gross development value (GDV) of Rs 45,000 crore during the stipulated timeframe.

Vimalendra Singh, Chief Business Officer (Residential), West, Mahindra Lifespace Developers, highlighted the company's focus on key cities such as Mumbai, Pune, and Bengaluru. "Nationally, this year has been very good for us and hopefully we will end on a good note. The three focus cities that we are targeting are Mumbai, Pune, and Bengaluru. We are targeting a GDV of around Rs 45,000 crore over the next few years," Singh stated.

He further added, "We have set a target of achieving Rs 8,000 to 10,000 crore by FY28." Singh emphasized the company's commitment to deepening its presence in micro markets through the launch of new projects and the introduction of new phases for existing projects.

Mahindra Lifespace Developers plans to introduce between six to ten launches every year, exploring opportunities for joint development to optimize capital utilization and leverage larger land parcels. The company also aims to focus on housing society redevelopments and the acquisition of land parcels on an outright basis.

Recently, the company launched its second plotted development, Green Estates, at Mahindra World City in Chennai, following the successful sell-out of its first plotted development, Lakefront Estates, within a year.

As Mahindra Lifespace Developers looks to augment its gross development value (GDV) in its focus markets of Mumbai, Pune, and Bengaluru, it remains committed to pursuing strategic initiatives to enhance its residential business and drive sustainable growth.

BS