Mahindra Lifespaces to exit affordable housing by FY30, shifts focus to premium segment: CEO
Managing Director and CEO Amit Kumar Sinha said the company plans to align its real estate strategy with the broader Mahindra brand, which focuses on premium SUVs rather than affordable or luxury vehicles. Similarly, Mahindra Lifespaces will concentrate on offering premium homes that are positioned between the affordable and luxury segments.
Sinha said the company plans to pause the development of affordable housing projects to concentrate on premium housing instead.
"If you look at Mahindra, it is known for SUVs (cars), not for small cars, not for luxury cars. We have tried both, we have even tried two-wheelers, and it has not been very successful."
Drawing a parallel with Mahindra's core automotive strategy, he said, "If you look at Mahindra, it's known for SUVs, not for small or luxury cars. We've tried both, we have even tried two-wheelers, and it has not been very successful,' he said.
Also Read: Premiumization of Mahindra SUVs holds a mirror to luxury housing: Amit Kumar Sinha, MD, Mahindra Lifespaces
Speaking during the Q4 FY25 investor call, Sinha said, "We have our focus on premium. Premium is defined as more than ₹1 crore to ₹10 crores in NCR and Mumbai, above which the 10 crore market is a threshold for luxury. But in other markets like Pune and Bengaluru, ₹1 to ₹5 crores is mid-premium and premium. So, that is what we want to focus on."
"Affordable has not done well for us, and that is something we want to sunset over a period of time. We have to fulfil our customer commitments, which we will do over time," Sinha said.
The company currently has affordable housing projects under the Mahindra Happinest brand in Palghar and Kalyan near Mumbai, as well as in Chennai.
The company is focusing on outright land purchases, joint development agreements (JDA), and housing society redevelopment.
"We are not yet venturing into slum rehabilitation projects. Maybe in the future, high-risk, high-reward business, but we will see if we can execute well on these deals that we already have, then we will look at slum rehabilitation projects," Sinha said.
"I think we have to do a lot to first change the brand perception. I think we are trying to be a little bit cool, a little bit different, to create that brand appeal. So that is the first part that we are doing.'
In 2024, Sinha told HT.com that the company plans to rebrand itself as a premium housing company and expand further into the Mumbai, Pune, and Bengaluru real estate markets.
Also Read: Mahindra Lifespaces wins redevelopment deal worth ₹950 crore for three Mumbai housing societies
'We now have premium projects and will rebrand ourselves accordingly," Sinha had said. Alluding to Mahindra's SUV cars, Sinha had said that these come with fully loaded features.
"If you look at Mahindra's XUV700, it is a premium car which makes you feel that you got a sweet deal. If you were to buy a GLE or X5 or some car with equivalent features and a powerful engine, it would cost you three times more. We want to give the same feel when it comes to homes. Our projects should have the best space index, greenery, amenities, right price point and social infrastructure," Sinha had said.
The company's profit for Q4FY25 grew by 19.02% year-on-year (Y-o-Y) to ₹85.1 crore, and revenue from operations dipped by 35.4% Y-o-Y to ₹9.24 crore. Its total expenses stood at ₹72.04 crore, down by 3.72% Y-o-Y.
In the pre-sales segment, the company closed sales worth ₹1,055 crore, down by 2.9% year-on-year. On the business development end, the company added projects with a gross development value (GDV) of ₹3,650 crore in Q4FY25 as against ₹2,040 crore in Q4FY24.
Also Read: Mahindra Lifespace targets ₹1200 crore revenue from two housing redevelopment projects in Mumbai
Mahindra Lifespaces was established in 1994 and has a development footprint spanning 41.11 million sq ft (saleable area) of completed, ongoing and forthcoming residential projects across seven Indian cities.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
&w=3840&q=100)
Business Standard
2 hours ago
- Business Standard
SML Isuzu zooms 44% in 6 days; what's fuelling the automobile stock?
SML Isuzu share price Shares of SML Isuzu hit a new high at ₹2,690, surging 9 per cent on the BSE in Friday's intra-day trade in an otherwise weak market. In comparison, the BSE Sensex was down 0.2 per cent at 83,061 at 12:16 PM. Thus far in the month of July, the stock price of the commercial vehicle company has soared 28 per cent after the company reported strong sales numbers for the month of June 2025. Meanwhile, in the past six trading days, SML Isuzu's market price has appreciated by 45 per cent. It has more-than-doubled or zoomed 163 per cent from its 52-week low of ₹1,030.90 touched on February 28, 2025. SML Isuzu - June month sales numbers SML Isuzu reported a 6.3 per cent year-on-year (YoY) growth in total vehicle sales at 1,871 units in June 2025, driven by cargo vehicle sales. The company had sold 1,760 units in June 2024, according to an exchange filing. The company's cargo vehicle sales grew 41.6 per cent YoY to 480 units in June 2025 from 339 units in the same month last year. However, passenger vehicle sales declined 2.1 per cent to 1,391 units from 1,421 units in June 2024. For the first quarter of fiscal year 2025-26 (April to June), SML Isuzu reported a 12.5 per cent YoY jump in total vehicle sales of 4,926 units compared to 4,379 units in the corresponding period last year. Cargo vehicle sales during this three-month period surged 46.3 per cent to 1,282 units from 876 units, while passenger vehicle sales grew 4.0 per cent to 3,644 units from 3,503 units. Mahindra & Mahindra (M&M) to acquire majority stake in SML Isuzu Mahindra & Mahindra (M&M) on April 26, 2025, announced that it has entered into an agreement to acquire 58.96 per cent stake in SML Isuzu at ₹650 per share, which is an outlay of ₹555 crore. As part of the transaction, M&M would acquire the entire stake of 43.96 per cent held by Sumitomo Corporation, promoter of SML Isuzu, and separately also acquire 15 per cent stake held by Isuzu Motors Ltd, public shareholder of SML Isuzu, for an aggregate consideration of ₹555 crore. In addition, M&M has made an open offer for acquisition of up to 26 per cent stake from eligible public shareholders of SML Isuzu in accordance with the SEBI Takeover Regulations. The open offer opened on June 19, 2025 and closed on July 2, 2025. M&M said the acquisition will enable the company to strengthen its presence in the trucks and buses segment by unlocking operational synergies, enhancing product development capabilities, and expanding market reach. It supports the company's long-term growth vision in the commercial vehicle industry. BNP Paribas, ICRA view on M&M deal M&M already has a strong presence in the small commercial vehicle (SCV) goods-carrier segment. The company can use SML Isuzu's Intermediate Light Commercial Vehicle (ILCV) passenger-carrier platform to expand into the ILCV goods segment as well. Also, Mahindra's vast network could help further ramp-up volumes of SML Isuzu's product. With growing competition from Ashok Leyland and Tata Motors in the LCV segment, this appears to be Mahindra's response. Buses have been a fast growing segment in recent years and through SML Isuzu, Mahindra will get access to this market. However, the brokerage firm thinks M&M will have to invest in the SML Isuzu's products as they seem to have been underinvested in the recent years. The change in ownership of the entity to M&M, when it materialises, is likely to aid SML's product development/ network expansion plans over the medium term, aided by M&M's well-established position in the automotive sector. Accordingly, the developments are expected to be credit positive in ICRA's view.
Time of India
15 hours ago
- Time of India
JDA to remove Narayan Singh Circle footbridge
1 2 Jaipur: To facilitate the construction of Jaipur Metro Line 2, the Jaipur Development Authority (JDA) will soon remove the pedestrian footbridge at Narayan Singh Circle and beautify the intersection. The decision came exactly three months after the state govt shifted the bus stand from Narayan Singh Circle to Jawahar Circle in Transport Nagar. "We will start removing the pedestrian footbridge this week. The elevated corridor of Metro Line 2 will pass through the present ramp of this footbridge. Instead of scrapping the structure, we are going to reinstall the footbridge at the India Gate Tiraha on Tonk Road," said a JDA official. Once the engineers remove the footbridge, the civic body will start beautifying the signal. Public toilet, all makeshift stalls and parking spots will be removed from this intersection. Although the traffic police have declared the intersection as no parking zone, a few autos and motorbikes (those run on apps) are still parking at this crossing. "We have asked the department of information technology (DoIT) to install cameras at this crossing. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Giao dịch CFD với công nghệ và tốc độ tốt hơn IC Markets Đăng ký Undo These are expected to be installed soon," the JDA official added. The two newly announced bus stands in Transport Nagar—towards Agra Road and Delhi Road—are expected to get a major facelift in the coming months. While Jaipur Municipal Corporation (Heritage) will install high-mast lights and a few infrastructures for passengers boarding from the stands meant for private buses, the Rajasthan State Road Transport Corporation (RSRTC) will improve the infrastructure of the govt bus stand at the corner of Agra Road. RSRTC plans to construct a state-of-the-art terminal building at this bus stand.
NDTV
a day ago
- NDTV
Formula E: Kush Maini To Drive For Mahindra Racing In Berlin Rookie Test
Kush Maini is now one of the most celebrated Indian motorsport racers who has received high stakes in the game. Recently, Kush Maini secured pole position in the Formula 2 Monaco GP, proving his sheer sportsmanship in the game. With this, Mahindra has now announced Kush as its official driver for the ABB FIA Formula E World Championship Rookie Test, scheduled for 14th July, in Berlin. However, this is not the first time that the F2 champion has been associated with Mahindra Racing. Kush was previously associated with Mahindra as the reserve driver for the ABB FIA Formula E World Championship Rookie Test throughout the 10th season. Also, it is not the first time that Maini will be revving a Formula E machine as he already got to drive the Formula E Gen 3 Evo car at the Rookie Free Practice session in Jeddah earlier this year. Kush Maini Commenting on the news, Kush Maini said: "I'm excited to be back with Mahindra Racing for the Rookie Practice in Jeddah next month. I was very impressed with my first experience of Formula E in Berlin last season, and the new GEN3 Evo car is clearly another step up from that. I've been watching closely across the first two races this season and can't wait to get behind the wheel for myself." As per reports, Maini's running will take place during the afternoon of Thursday, 13th February, with a dedicated 40-minute session for each team to run one Rookie on the abridged, 1.86-mile layout of the Jeddah Corniche Circuit used by Formula E. Also, Kush will have Dino Beganovic as his team fellow for the 2025 ABB FIA Formula E World Championship Rookie Test, and Felipe Drugovich has joined the team as Mahindra's reserve driver for the event.
