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Mahindra Lifespace to Invest Rs 6,000 Crore in Housing Business in the Next Four Years

Submitted by admin on March 27th, 2024

Mahindra Lifespace Developers Limited (MLDL) is the real estate and infrastructure development wing of the Mahindra Group. The company now claims to have invested around Rs 6000 crore in residential real estate business by the financial year 2028.

They have made the move with the right planning and objective to push their business growth, which is projected to jump fivefold from Rs 2,268 crore to Rs 8,000 crore in residential business over the next four years.

The company is preparing to launch a pipeline of projects estimated to have a gross development value of Rs 45, 000 crore during this period.

“Nationally, this year has been perfect 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,” said Vimalendra Singh, Chief Business Officer (Residential), West, Mahindra Lifespace Developers.

“We have set a target of achieving Rs 8,000 to 10,000 crore by FY28,” he added.

He said the company’s major focus is Bengaluru, Pune, and Mumbai. “In the next four years, we may be investing around Rs 6,000 crore,” he said.

The company plans to delve deeper into the micro markets. The increase will happen through the upcoming projects as well as new phases of ongoing projects.

“We will have between six to ten launches every year. We are exploring a lot of joint development also. That allows us to optimize capital and look at the larger land parcels,” Singh revealed.

The company has set its sights on residential society redevelopments. They also have plans of land parcels acquisition on an outright basis.

The company has recently launched Green Estates, its second plotted development at Mahindra World City in Chennai.

“This one is called Green Estates. This follows the first plotted development called Lakefront Estates. In less than a year, we have sold out the entire Lake Front Estates,” he said.

The company is planning to stay focused on housing society developments, joint developments and acquiring land parcels on an out-and-out basis to increase its gross development value during the next four years in its focus markets of Bengaluru, Pune and Mumbai.