Mahindra Lifespaces is one of the leading real estate development companies in India We operate our business in three diversified business lines: (i) residential projects under the ‘Mahindra Lifespaces’ brand name; (ii) affordable housing projects under the ‘Happinest brand name; and (iii) large-format integrated cities under the ‘Mahindra World City’ brand name.
We currently have presence in multiple city-clusters across India i.e. the Mumbai Metropolitan Region (Mumbai, Thane, Palghar, Alibaug and Boisar), Pune, Nagpur, Nashik, Ahmedabad, the National Capital Region (New Delhi, Gurgaon and Faridabad), Jaipur, Hyderabad, Bengaluru and Chennai.
Our Company won the ‘Investor Relations Society Awards 2015’ for ‘Best Environment, Social and Governance (ESG) Disclosures in Small Cap category’. One of our projects ‘Luminare’ was conferred with the ‘CIDC Vishwakarma Award for Construction, Health, Safety and Environment’. We also received the Investor Relations Society Awards 2015’ for best environment, social and governance disclosures in small cap category.
We have been recognized as an industry leader in real estate Sustainability best practices and initiatives for the second year in a row, by being ranked Regional Sector Leader for Listed, Asia, Industrial, in the 2015 GRESB Survey report.
The Green Army Initiative –An outreach program that identifies children as primary change agents of the future and aims to educate them on sustainable living habits and choices whilst encouraging them to spread the word amongst friends and family. The program incorporates interactive workshops (conducted across various schools in Mumbai in the past year), an online module and adopts a self-assessment methodology to inculcate sustainable habits in children. The Green Army Initiative is part of Mahindra Lifespaces’ efforts to inspire, engage and nurture a young ecosystem that thinks responsibly.
Use of Ground Granulated Blast Furnace Slag (GGBS) in RCC Work – An example of the innovative use of a manufacturing by-product in the construction process that helps to reduce cement consumption, mitigates carbon emission and reduces cost of construction. GGBS is a waste product of the steel manufacturing process and is a potential part replacement for cement in Reinforced Cement Concrete or RCC.
“At Mahindra Lifespaces, Sustainability is deeply ingrained in our day to day business decisions and encompasses business responsibility, environmental stewardship and community outreach. We are delighted to have once again been recognized by GRESB for leading in an area that is integral to our organization’s ethos and values”, said Anita Arjundas, Managing Director & CEO, Mahindra Lifespaces.
“In a world that grapples with rising population, growing social inequality, development challenges and climate change, the need for overall transformation in approach to business is clear. We will continue to explore ways in which we can integrate Sustainability into process, product and service innovation,” she added.
“As environmental, social and governance (ESG) practices in Asia are increasingly scrutinized by investors, the GRESB results shows that the regional property industry is taking sustainability issues more seriously, making it a core part of business strategies. This is reflected in the increasing adoption of sustainability management practices and on-going efforts to address critical issues related to energy, water, waste, and human health. The recent gains achieved by the regional commercial real estate sector – in particular by the Regional Sector Leaders, such as Mahindra Life Spaces Development – are impressive. Nevertheless, it is clear that the sector’s environmental impact is significant and more work to increase the use of best practices in the region remains to be done,” says Ruben Langbroek, Head of Asia Pacific at GRESB.
About Mahindra Lifespace Developers Ltd.
Mahindra Lifespace Developers Ltd., the real estate and infrastructure development business of the Mahindra Group, is one of the leaders in sustainable urban development, through the creation of residential and integrated large format developments across multiple city cluster - the Mumbai Metropolitan Region (Mumbai, Thane, Palghar, Alibaug and Boisar), Pune, Nagpur, Nashik, Ahmedabad, the National Capital Region (New Delhi, Gurgaon and Faridabad), Jaipur, Hyderabad, Bengaluru and Chennai. . The Company’s residential & commercial development footprint includes over 1.22 million sq. m. (13.15 million sq. ft.) of completed projects and over 0.89 million sq. m. (9.61 million sq. ft.) of ongoing and forthcoming projects.
We believe that Mahindra Lifespaces has pioneered the concept of an integrated business city through ‘Mahindra World City’ developments in Chennai and Jaipur. These developments cover over 1619 hectares (4,000 acres) and house over 130 reputed global companies, providing an integrated environment for Life, Living and Livelihood. The Company’s ‘Green’ homes, presence in multiple city clusters, and the development of successful integrated cities have all contributed to Mahindra Lifespaces being recognized as a leading real estate developer. Mahindra Lifespaces is the first real estate company in India to release its triple bottom-line focused Sustainability Report that is based on the Global Reporting Initiative (GRI) framework. Our GRI compliant report received an ‘A+’ rating according to the GRI G3.1 guideline, indicating the highest level of disclosure in Fiscals 2012, 2013 and 2014. In Fiscal 2015, we transitioned to the new GRI G4 guidelines.
In 2014 and once again in 2015, Mahindra Lifespaces has been recognized as a Regional Sector Leader for Asia in its category by the Global Real Estate Sustainability Benchmark (GRESB).
We are part of the Mahindra group, which is one of the largest business houses in India. The Mahindra group’s flagship entity, Mahindra and Mahindra Limited is our Promoter. The Mahindra group has a strong presence in the utility vehicles, tractors, information technology, financial services, aerospace, real estate, hospitality and logistics sectors.
In 2016, Mahindra and Mahindra Limited featured on the Forbes Global 2000, a comprehensive listing of the world’s largest, most powerful public companies, as measured by revenue, profit, assets and market value. Mahindra and Mahindra Limited also received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category in 2013.
Visit us at www.mahindra.com
For further enquiries please contact:
General Manager, Group Communications,
Tel: +91 22 24916855
GRESB (Global Real Estate Sustainability Benchmark, www.gresb.com) is an industry driven organization committed to assessing the sustainability performance of real estate portfolios (public, private and direct) around the globe. This dynamic benchmark is used by institutional investors to engage with their investments with the aim of improving the sustainability performance of their investment portfolio, and the global property sector at large.
Mahindra Lifespace Developers Ltd. has been announced as “Regional Sector Leader for the 2014 GRESB Survey for Asia/Diversified/Small Cap” in a formal launch on September 4th, 2014. Mahindra World City has been promoted by Mahindra Lifespace Developers Ltd.
This was the company’s first year of participation to the survey. The recognition will help the company to establish and promote thought leadership on Sustainability.
What is covered in the Survey?
The annual GRESB Survey includes seven aspects of sustainability. GRESB also includes an additional New Construction & Major Renovations aspect in the Survey for those companies and funds that undertake development activities.
The Survey questions examine:
What sustainability-related strategies, policies and objectives are in place at the organizational level?
What actions have been taken to implement these strategies/policies and to achieve the objectives?
What frameworks, standards and certification/rating schemes are used within the portfolio?
What key environmental performance indicators are measured and monitored within the portfolio?
About Global Real Estate Sustainability Benchmarking (GRESB)
GRESB headquartered at Amsterdam, is an industry-driven organization committed to assessing the sustainability performance of real estate portfolios (public, private and direct) around the globe. The dynamic benchmark is used by institutional investors to engage with their investments with the aim to improve the sustainability performance of their investment portfolio, and the global property sector at large.