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Mahindra Lifespaces Announces Phase 2 Launch of Mahindra Vista in Kandivali East
Mumbai, February 10th, 2025: Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, announced the launch of Phase 2 of Mahindra Vista, India’s first Net Zero Waste + Energy residential project in Kandivali East, Mumbai. This phase introduces 599 premium residences. All units come with balconies, designed to meet the evolving aspirations of urban homebuyers.
Vimalendra Singh, Chief Business Officer (Residential), Mahindra Lifespace Developers Limited said, “Mahindra Vista’s unprecedented success with Phase 1 generating ₹800 crore in just three days, is a testament to the trust our customers place in us. This overwhelming response and basis customer demand, we have preponed the phase 2 launch. At a time when environmental consciousness is reshaping choices, our commitment to sustainability has deeply resonated with homebuyers. The success of Mahindra Vista highlights Mumbai’s growing preference for responsible living and strengthens our resolve to create a greener future.”
Spread across 7.74 acres, Mahindra Vista exemplifies sustainable living with a low tower footprint of under 12% and expansive green spaces. This includes 1.92 acres of landscaped greens on mother earth and an additional 1.6 acre podium top adorned with a signature-designed colonnade and an infinity-edge pool. Residents will also enjoy a state-of-the-art, biophilic-roof clubhouse spanning 28,000 sq. ft., alongside high-street retail, and convenient shopping options.
Located in Kandivali East, Mahindra Vista enjoys proximity to key infrastructure and connectivity advantages. Residents will benefit from easy access to Akurli Road, the upcoming DP Road, and major transportation networks, including highways, rail, and metro services. Overlooking the serene Sanjay Gandhi National Park, the project offers a unique blend of tranquility and urban convenience.
Mahindra Lifespaces Adds a New Redevelopment Deal Worth Rs 950 Crore in Lokhandwala, Mumbai
Mumbai, February 3rd, 2025: Mahindra Lifespace Developers Limited (MLDL), the real estate and
infrastructure development arm of the Mahindra Group, today announced that the Company has been
appointed as the developer for a redevelopment project in Lokhandwala Complex, Andheri West,
Mumbai. The project offers a Gross Development Value (GDV) of approx. Rs 950 crore. This strategic
move secures a fourth redevelopment project in Mumbai.
Mahindra Lifespaces has been chosen as the preferred partner for the redevelopment of three
residential societies together. The project will be developed under state’s cluster redevelopment
policy. It is located 15 minutes from the upcoming Versova-Bandra Sealink, providing great
connectivity to other parts of the city.
Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said, “This
strategic move strengthens our presence in the western suburbs of Mumbai. This project is in a prime
location, which is well connected and offers a great lifestyle. It will be a premium development that will
reflect our commitment to sustainable living, modern design, and creating spaces that inspire and
elevate everyday life.”
Mahindra Lifespaces Launches New Premium Residential Tower of Mahindra Citadel
Pune, February 3rd, 2025 – Mahindra Lifespace Developers Limited (MLDL), the real estate and
infrastructure development arm of the Mahindra Group, has announced the launch of a new premium
residential tower in the second phase of Mahindra Citadel, an expansive residential development spread
across approximately 9.66 acres in Pimpri-Chinchwad, Pune. This phase introduces approximately 135
premium 3 and 4 BHK residences, designed to elevate modern living.
Vimalendra Singh, Chief Business Officer (Residential), Mahindra Lifespace Developers Ltd. said,
“Pune’s rapid growth and cultural vibrancy have driven demand for spacious 3 and 4 BHK homes. Over
the last decade, Pimpri’s steady real estate growth, with its modern neighborhoods, green spaces, and
proximity to industries and IT parks, has made it a prime location for expansion. Building on the strong
response to our earlier launches, we are proud to unveil a new premium residential tower, which aims to
foster a thriving community and position Mahindra Citadel as a landmark in Pune’s urban landscape.”
The new premium residential tower reflects Mahindra Lifespaces’ strong commitment to sustainability,
offering IGBC Gold pre-certified homes with energy-efficient features and waste management systems.
The development offers a diverse range of thoughtfully designed amenities such as multiple badminton
courts, a jogging track, and a half-Olympic pool that enhances physical, mental, and social well-being of
residents, promoting a balanced and vibrant lifestyle.
Positioned along the busy Mumbai-Pune Highway, this development enjoys a prime residential location.
Residents benefit from Sant Tukaram metro station being at doorstep, easy access to major transit
routes such as the Old Mumbai-Pune Highway and the Pune-Dhule-Nasik Highway. Key transportation
hubs, including Kasarwadi and Pimpri railway stations, Pimpri Chowk bus stop is all conveniently nearby.
Mahindra Lifespaces reports pre-sales of Rs 1749 crore and Industrial land leasing of Rs 209 crore for 9M FY25
Mumbai, Jan 31, 2025 – Mahindra Lifespace Developers Limited (MLDL), the real estate and
infrastructure development business of the Mahindra Group, announced its financial results for the
quarter ended 31st December 2024 today. In accordance with INDAS 115, Company recognizes its
revenues on completion of contract method.
Key highlights
9M FY25 & Q3 FY25:
- Achieved pre-sales of Rs 1,749 crore in the residential business (saleable area – 2.15 msft, RERA
carpet area – 1.62 msft). Q3 FY25 pre-sales of Rs 334 crore (saleable area – 0.45 msft, RERA
carpet area – 0.33 msft). - Gross development value additions in 9M FY25 were Rs 14,050 crore as against Rs 2,360 crore in
9M FY24. Additions during the quarter include 37-acre land parcel (JDA) at Bhandup (planned for
residential, commercial and retail) with a GDV potential of Rs 12,000 crore. Post the end of the
quarter, we acquired an 8-acre land parcel near Bengaluru airport with a GDV potential of Rs
1,000 crore. - Collections stood at Rs 1,365 crore for the 9M FY25 from the residential business as compared to
Rs 973 crore for 9M FY24. - Achieved revenues through land leasing of 47.3 acres in the IC&IC business for Rs 208.9 crore.
During Q3 FY25, 12.4 acres were leased for Rs 45.7 crore. - The consolidated total income stood at Rs 408.4 crore in 9M FY25 vs. Rs 224.5 crore in 9M FY24.
The consolidated total income stood at Rs 185.8 crore in Q3 FY25 vs. Rs 88.8 crore in Q3 FY24
and Rs 16.0 crore in Q2 FY25. - The consolidated loss, after non-controlling interest, stood at Rs 23.8 crore in 9M FY25 as against
profit of Rs 26.8 crore in 9M FY24. The consolidated loss, after non-controlling interest, stood at
Rs 22.5 crore in Q3 FY25 as against profit of Rs 50.0 crore in Q3 FY24 and a loss of Rs 14.0 crore
in Q2 FY25
Commenting on the performance, Mr. Amit Kumar Sinha, Managing Director & CEO, Mahindra
Lifespace Developers Ltd., said, “We recorded our highest ever GDV additions during Q3, setting
us up very well to achieve 5x growth target. Q3 FY25 pre-sales was primarily driven by sustenance,
though it was slow compared to last year. We launched IvyLush during the quarter and are getting a
good response for the project. We are gearing for our planned launches in Q4 FY25 across our key
markets. Our IC&IC business continues to benefit from strong macro tailwinds.”
Notes:
- Company uses carpet areas in its customer communication. However, the data in saleable area
terms has been presented here to enable continuity of information to investors and shall not be
construed to be of any relevance to home buyers / customers. - The operational highlights include the performance of the Company and its subsidiaries / joint
ventures / associates.
Mahindra Lifespaces® acquires 8.2-acre land parcel with a GDV of almost INR 1,000 crores
Bengaluru, January 23rd, 2025 – Mahindra Lifespace Developers Limited (MLDL) through its subsidiary Anthurium Developers Ltd (ADL), has announced the acquisition of 8.2 acres of land in North Bengaluru, marking a strategic addition to its growing portfolio in the city. The land has a developable potential of approximately 0.9 million square feet of saleable area and a projected Gross Development Value (GDV) of almost INR 1,000 crore. The project will primarily feature mid-premium residential apartments catering to the rising demand for quality housing in Bengaluru.
Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said, “Bengaluru is a strategic market for us, and this will be our seventh project in the city. Given the proximity to the international airport and major tech parks, we believe North Bengaluru will be an important micro-market with strong demand for well-planned, high-quality homes.”
The site is strategically located off the Bangalore-Hyderabad Highway, with proximity to the international airport, IT hubs, commercial offices, and a growing and developing social infrastructure. The area offers access to renowned educational institutions, healthcare facilities, retail hubs. Just 1.8Kms from the upcoming Doddajala metro station, makes it an ideal location for urban homebuyers.
Mahindra Lifespaces plans to launch the project within the next nine months, further strengthening its position as a leading developer of thoughtfully designed and sustainable residential spaces in Bengaluru, one of India’s fastest-growing real estate markets.
Mahindra Lifespaces Launches Mahindra IvyLush in Kharadi Annex, Pune
Pune, 30th December 2024: Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has announced the launch of Phase 2 of its project located in Kharadi Annex, Mahindra IvyLush (previously known as Mahindra Codename Crown). This phase introduces two new towers, adding approximately 500 residential units. Mahindra IvyLush offers premium 2 & 3 BHK homes, promising an elevated living experience. The project also features a standalone premium 4 BHK tower. This launch builds on the success of Phase 1, which saw very strong sales. The project includes spacious decks, enhanced cross-ventilation, senior-friendly washrooms, and a range of other climate-responsive features.
Vimalendra Singh, Chief Business Officer (Residential), Mahindra Lifespace Developers Ltd. said, “The strong response to Phase 1 reflects our customers’ trust in Mahindra Lifespaces. With Phase 2, we aim to build on this success by offering innovative homes that combine functionality, comfort, and quality, further strengthening our presence in Pune. This launch reaffirms our commitment to setting new benchmarks in urban living.”
Strategically located in the vibrant suburb of upscale East Pune, the project offers excellent connectivity to the Kharadi IT hub and the World Trade Center. It is also surrounded by well-developed social infrastructure, including prestigious educational institutions such as Wellington College International Pune, EuroSchool Kharadi, and Poddar International School.
Mahindra Lifespaces announces continuing partnership with Sumitomo Corporation for its Industrial Clusters business
Mumbai, November 22, 2024 – Mahindra Lifespace Developers Ltd. (MLDL), the real estate and infrastructure development arm of the Mahindra Group, through its subsidiary Mahindra World City Developers Limited (MWCDL), has announced the second phase of their Industrial Parks project in Tamil Nadu under the brand “Origins by Mahindra,” in partnership with Sumitomo Corporation, Japan. This expansion marks a significant step in enhancing industrial growth in the region.
The Joint Venture Agreement originally signed in 2015, with Sumitomo Corporation was further strengthened today through a Supplemental Agreement which involves an investment of approximately ₹225 crores by MWCDL and Sumitomo Corporation, Japan in Mahindra Industrial Park Chennai Limited (MIPCL), in proportion of their existing shareholding. This new phase will also focus on the acquisition and development of land and associated infrastructure to establish an advanced industrial ecosystem.
Mr. Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said “At Mahindra Lifespaces, we take pride in developing industrial clusters and integrated cities that drive economic growth and support businesses. The partnership with Sumitomo Corporation, reflects our commitment to fostering progress and enabling industries to thrive sustainably.”
MIPCL which currently spans over 307 acres, already hosts global and domestic companies that have set up their industrial facilities. Its objective is to play a pivotal role in supporting the region’s industrial and economic growth and offer world-class infrastructure to businesses.
Mahindra Lifespaces secures 37-acre mega-deal in Bhandup
Mahindra Lifespaces reports pre-sales of Rs 1415 crore and Industrial land leasing of Rs 163 crore for H1 FY25
Mumbai, Oct 25, 2024 – Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development business of the Mahindra Group, announced its financial results for the quarter ended 30th September 2024 today. In accordance with INDAS 115, Company recognizes its revenues on completion of contract method.
Key highlights
H1 FY25 & Q2 FY25:
- Achieved pre-sales of Rs. 1,415 crore, 77% y-o-y growth (saleable area – 1.70 msft, RERA carpet area – 1.29 msft) [Q2 FY25 – Rs. 397 crore (saleable area – 0.53 msft, RERA carpet area – 0.42 msft)] in residential business
- Gross development value additions in H1 FY25: (1) Rs. 1,800 crore society development in Sai Baba Nagar, Borivali (7 societies), our third such project in Mumbai; (2) Rs. 250 Cr GDV potential from 2-acre land parcel adjacent to our Project ‘Mahindra Zen’ in Bengaluru
- Collections at Rs. 999 crore [Rs. 459 crore in Q2 FY25] from the residential business
- Achieved land leasing of 34.9 acres in the IC&IC business for Rs. 163.2 crore [Q2 FY25 – 16.1 acres for Rs. 87.1 crore]
- The consolidated total income stood at Rs. 16.0 crore in Q2 FY25 vs. Rs. 25.7 crore in Q2 FY24 and Rs. 206.7 crore in Q1 FY25
- The consolidated loss, after non-controlling interest, stood at Rs. 14.0 crore in Q2 FY25 as against loss of Rs. 19.0 crore in Q2 FY24 and a profit of Rs. 12.7 crore in Q1 FY25
- The consolidated total income stood at Rs. 222.7 crore in H1 FY25 vs. Rs. 135.8 crore in H1 FY24
- The consolidated loss, after non-controlling interest, stood at Rs. 1.3 crore in H1 FY25 as against loss of Rs. 23.2 crore in H1 FY24
Commenting on the performance, Mr. Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said, “We had a strong H1 FY25 performance driven by our project launches in earlier months, though the quarter was little muted. The real estate industry is witnessing strong tailwinds especially in the mid-premium and premium segments. We have an exciting set of launches planned for the reminder of the year. Our IC&IC business has continued to deliver a strong performance with increasing demand for manufacturing and favourable policy announcements from the Government.”
Notes:
- Company uses carpet areas in its customer communication. However, the data in saleable area terms has been presented here to enable continuity of information to investors and shall not be construed to be of any relevance to home buyers / customers.
- The operational highlights include the performance of the Company and its subsidiaries / joint ventures / associates.
