Premium Mumbai Redevelopment Project Awarded to Leading Developer with Rs 1,250 Crore Potential
The stock gave returns of 452 per cent in 5 years and a 202 per cent in 10 years.
Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, today announced its appointment as the preferred developer for the redevelopment 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 ₹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.
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Mr.Vimalendra Singh, Chief Business Officer – Residential, Mahindra Lifespace Developers Ltd, 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.”
About Mahindra Lifespace Developers Ltd
Established in 1994, Mahindra Lifespaces Developers Ltd. (‘Mahindra Lifespaces’) brings the Mahindra Group’s philosophy of ‘Rise’ to India’s real estate and infrastructure industry through thriving residential communities and enabling business ecosystems. The Company’s development footprint spans 41.11 million sq. ft. (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. Mahindra Lifespaces’ development portfolio comprises premium residential projects; value homes under the ‘Mahindra Happinest®’ brand; and integrated cities and industrial clusters under the ‘Mahindra World City’ and ‘Origins by Mahindra’ brands, respectively. The Company leverages innovation, thoughtful design, and a deep commitment to sustainability to craft quality life and business growth.
The company has a market cap of over Rs 7,700 crore and has delivered good profit growth of 24 per cent CAGR over the last 5 years. The shares of the company have an ROE of 3.25 per cent and an ROCE of 2.95 per cent. The stock gave returns of 452 per cent in 5 years and a 202 per cent in 10 years.
Disclaimer: The article is for informational purposes only and not investment advice.