Mahindra Lifespace Acquires 15 Acres in Kandivali East; Project Valued at Rs 5,600 Crore

Mahindra Lifespace Acquires 15 Acres in Kandivali East; Project Valued at Rs 5,600 Crore​

Mahindra Lifespace Developers Limited has announced the acquisition of a significant 15-acre land parcel located in Kandivali East, Mumbai. The move is set to expand the company's presence in the residential market, with the project carrying an estimated Gross Development Value (GDV) of approximately Rs 5,600 crore and offering a development potential of around 1.8 million square feet.

Commenting on this strategic expansion, Vimalendra Singh, Chief Business Officer - Residential at Mahindra Lifespace Developers Limited, stated that the acquisition strengthens their position within Mumbai's thriving residential market. He noted that the opportunity aligns with their strategy to expand in areas characterized by strong end-user demand and long-term growth potential, building upon the success of projects like Mahindra Vista in the Kandivali micro-market.

The land parcel is strategically situated in Kandivali East and benefits from excellent connectivity to the Western Express Highway and established metro corridors. The location features pre-existing social infrastructure, including local schools, hospitals, and retail hubs, which are driving strong residential absorption within the area. Furthermore, future infrastructure enhancements, such as the upcoming Borivali-Thane Twin Tunnel, are expected to significantly improve regional connectivity and support the long-term growth prospects of the area.

Mahindra Lifespace Developers Limited is part of the Mahindra Group and operates in India's real estate and infrastructure industry through residential communities and enabling business ecosystems. Established in 1994, the company has a development footprint covering 53.65 million sq ft (saleable area) across seven Indian cities. Its portfolio includes premium residential projects, value homes under the 'Mahindra Happinest' brand, and integrated industrial clusters under 'Mahindra World City.'

As a pioneer in Net Zero homes in India, Mahindra Lifespace is committed to environmental responsibility. The company has achieved 100% green portfolios since 2014 and actively supports research on green buildings tailored to climatic conditions in India.

MAHLIFE Stock Price Movement​

Today, shares of Mahindra Lifespace Developers Limited edged higher in the post-market session, settling at ₹352.35 after gaining 1.77%. The stock saw robust trading activity, with a total traded volume amounting to 378,073 shares today.