Latest news with #VimalendraSingh
Business Standard
2 days ago
- Business
- Business Standard
Mahindra Lifespace bags redevelopment project in Mulund worth Rs 1,250 crore
Mahindra Lifespace Developers said that it has been appointed as the preferred developer for the re-development of a premium housing society in Mulund (West), Mumbai. The project spans across a 3.08-acre land parcel and has an estimated development value of approximately Rs 1,250 crore. The site offers excellent connectivity, being just 1.4km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. It also provides seamless access to the Eastern Express Highway and the Mulund-Airoli Bridge, facilitating convenient travel to Navi Mumbai, and other business hubs. Vimalendra Singh, chief business officer Residential, Mahindra Lifespace Developers, said: "At Mahindra Lifespaces, our redevelopment philosophy centres around creating value for residents and the city. We aim to blend design excellence with sustainability and on time delivery. With robust connectivity and access to employment hubs in South Mumbai, Navi Mumbai and Thane, this project is poised to be a key contributor to the area's continued growth story." Mahindra Lifespaces Developers is the real estate arm of the Mahindra Group. The companys development footprint spans 41.11 million square feet (saleable area) of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5000 acres of ongoing and forthcoming projects under development / management at its integrated developments / industrial clusters across four locations. The scrip fell 1.23% to currently trade at Rs 356.80 on the BSE.
Hindustan Times
2 days ago
- Business
- Hindustan Times
Mahindra Lifespaces to redevelop housing project in Mumbai's Mulund with a revenue potential of ₹1,250 crore
Listed real estate developer Mahindra Lifespaces Developers Limited (MLDL) announced on June 27 that it has been appointed the preferred developer for the redevelopment of a premium housing society in the Mulund West area of Mumbai. The developer expects a revenue of about ₹ 1,250 crore. Mumbai real estate update: Listed real estate developer Mahindra Lifespaces Developers Limited (MLDL) announced on June 27 that it has been appointed the preferred developer for the redevelopment of a premium housing society in the Mulund West area of Mumbai. (Picture for representational purposes only)(Mehul R Thakkar/HT) In a regulatory filing on Friday, the company informed that it has been appointed as the "preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. According to the company, the project spans a 3.08-acre land parcel and has an estimated development value of approximately ₹ 1,250 crore. The company said that the site offers excellent connectivity, being just 1.4km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. Also Read: Mahindra Lifespaces wins redevelopment deal worth ₹ 950 crore for three Mumbai housing societies According to the company statement, it also provides seamless access to the Eastern Express Highway and the Mulund-Airoli Bridge, facilitating convenient travel to Navi Mumbai and other business hubs. "At Mahindra Lifespaces, our redevelopment philosophy centres around creating value for residents and the city. We aim to blend design excellence with sustainability and on-time delivery. With robust connectivity and access to employment hubs in South Mumbai, Navi Mumbai and Thane, this project is poised to be a key contributor to the area's continued growth story." Vimalendra Singh, Chief Business Officer, Residential, Mahindra Lifespace Developers Ltd, said. According to local brokers, the per sq ft price of a residential apartment in Mulund is in the range of ₹ 20,000 to ₹ 30,000 per sq ft. Also Read: Mahindra Lifespaces announces cluster redevelopment project in south Mumbai with a revenue potential of ₹ 1,650 crore Redevelopment focus In the last five months, the company has announced multiple redevelopment projects in the Mumbai real estate market, with a potential value of close to ₹ 5,000 crore. This includes a cluster redevelopment project in Mumbai's Mahalaxmi, with a Gross Development Value (GDV) of ₹ 1650 crore. The company also announced the redevelopment of five housing societies in the Andheri West area of Mumbai, with a potential value of over ₹ 2,150 crore. Mahindra Lifespaces to exit affordable housing by FY30, shifts focus to premium segment The company plans to exit from the affordable housing segment for the time being, stating that it will have zero affordable housing projects on its books by FY30. Also Read: Mahindra Lifespaces to exit affordable housing by FY30, shifts focus to premium segment: CEO Speaking during the Q4 FY25 investor call, Amit Sinha, MD and CEO of Mahindra Lifespaces, had said, "We 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 had said.
&w=3840&q=100)
Business Standard
2 days ago
- Business
- Business Standard
Mahindra Lifespaces to redevelop Mulund West project worth ₹1,250 crore
Mahindra Lifespace Developers, the real estate and infrastructure development arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project has an estimated development potential of ₹1,250 crore. The redevelopment will span a 3.08-acre land parcel located 1.4 kilometres (km) from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. Focus on design, sustainability and timely delivery Vimalendra Singh, chief business officer – residential, Mahindra Lifespace Developers, said, 'At Mahindra Lifespaces, our redevelopment philosophy centres around creating value for residents and the city. We aim to blend design excellence with sustainability and on-time delivery. With robust connectivity and access to employment hubs in South Mumbai, Navi Mumbai and Thane, this project is poised to be a key contributor to the area's continued growth story.' Wide presence across Indian cities Mahindra Lifespaces' development footprint spans 41.11 million square feet (saleable area) of completed, ongoing and forthcoming residential projects across seven Indian cities. It also has over 5,000 acres of ongoing and forthcoming projects under development or management at its integrated developments and industrial clusters across four locations. Mulund West realty sees strong demand Between April 2024 and March 2025, Mulund West recorded 1,891 new property sale transactions with a gross sales value of Rs 3,960 crore, according to Square Yards Data Intelligence, a real estate data analytics firm. As of the first quarter of the calendar year 2025 (Q1 CY25), the property rate in the area stood at ₹34,534 per square foot, up from ₹33,779 per square foot in Q1 CY24. Other recent developments by Mahindra Lifespaces In April, the company announced its appointment as the preferred partner for the redevelopment of two residential societies in the Lokhandwala Complex, Andheri (West), Mumbai, with a gross development value (GDV) of approximately ₹1,200 crore. Mahindra Lifespaces' profit (attributable to the owners of the parent) for the fourth quarter of the financial year 2024-25 (Q4 FY25) rose 19.02 per cent year on year (YoY) to ₹85.1 crore.
&w=3840&q=100)
Business Standard
2 days ago
- Business
- Business Standard
Mahindra Lifespace shares up 5% on securing redevelopment project in Mulund
Mahindra Lifespace share price: Mahindra Lifespace Developers shares price was buzzing in trade on Friday, June 27, 2025, with the scrip rallying up to 4.63 per cent to an intraday high of ₹378 per share. Around 10:10 AM, Mahindra Lifespace share price was trading 1.52 per cent at ₹366.75 per share. In comparison, BSE Sensex was trading 0.08 per cent higher at 83,821.22 levels. What triggered the up move in Mahindra Lifespace share price? Mahindra Lifespace Developers share price rose after the company announced that it emerged as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project covers a 3.08-acre land parcel with an estimated development value of around ₹1,250 crore, the company revealed, in a statement. Vimalendra Singh, chief business officer - Residential, Mahindra Lifespace Developers, said, 'At Mahindra Lifespaces, our redevelopment philosophy centres around creating value for residents and the city. We aim to blend design excellence with sustainability and on time delivery. With robust connectivity and access to employment hubs in South Mumbai, Navi Mumbai and Thane, this project is poised to be a key contributor to the area's continued growth story.' Its prime location offers strong connectivity—just 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road. Moreover, the site has easy access to the Eastern Express Highway and the Mulund-Airoli Bridge, ensuring easy travel to Navi Mumbai and key business districts. About Mahindra Lifespace Mahindra Lifespace Developers, the real estate and infrastructure arm of the Mahindra Group, is among India's leading developers committed to sustainable urbanisation. With a strong presence across 9 major Indian cities, the company has delivered 53 residential projects, encompassing 21.14 million square feet of completed development. It currently has 16.19 million sq ft of ongoing and upcoming projects across various segments. Mahindra Lifespaces focuses on mid-premium and affordable housing, along with integrated cities and industrial clusters, offering a diversified portfolio catering to a wide range of homebuyers and businesses. The market capitalisation of Mahindra Lifespace is ₹7,828.62 crore, according to BSE. The company falls under the BSE SmallCap index. The 52-week high of Mahindra Lifespace share is ₹594.59, while its 52-week low is ₹253.78 apiece.
Time of India
2 days ago
- Business
- Time of India
Mahindra Lifespaces secures Rs 1,250 cr redevelopment project in Mumbai's Mulund
Mahindra Lifespace Developers Ltd (MLDL), the real estate and infrastructure arm of the Mahindra Group, has secured rights to redevelop a large residential housing society in Mumbai's eastern suburb Mulund. The redevelopment will be carried out on a 3.08-acre land parcel and has an estimated development value of over Rs 1,250 crore. The project is expected to include a mix of residential units, catering to both the existing society members and new buyers. This is one of the larger redevelopment projects undertaken by Mahindra Lifespaces in Mumbai and is aligned with the company's continued focus on the residential redevelopment segment. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like The Simple Morning Habit for a Flatter Belly After 50! Lulutox Undo The site is located in proximity to key infrastructure projects, including the upcoming Mumbai Metro line 5 , and the Goregaon-Mulund Link Road at a distance of 0.8 km. It also has direct access to the Eastern Express Highway and the Mulund-Airoli Bridge, providing connectivity to Navi Mumbai, South Mumbai, and Thane. According to Vimalendra Singh, Chief Business Officer – Residential at Mahindra Lifespaces, the company's redevelopment approach is focused on creating value for residents and the city. He added that the Mulund project, with its access to multiple employment and transit nodes, is expected to contribute to the growth of the area. Live Events The project adds to Mahindra Lifespaces' Mumbai portfolio, where the company is also executing redevelopment and greenfield projects. This follows a series of similar society-led redevelopment contracts awarded in the Mumbai Metropolitan Region (MMR), where developers are increasingly looking at infill sites to expand within city limits. Real estate projects involving the redevelopment of old housing societies and rehabilitation are the mainstay of the Mumbai region's property market, as the land-starved city and its peripheral areas have few vacant land parcels. Ends The redevelopment sector in Mumbai has seen increased activity, especially in eastern and western suburbs, due to constrained land availability and regulatory focus on replacing ageing building stock.
