Shares of Mahindra Lifespace Developers Ltd surged 3% to touch a day’s high of Rs 362 on 19th February after the firm announced its partnership with Livingstone Infra Private Ltd yesterday, for a cluster redevelopment project in Mahalaxmi, Mumbai, with a gross development value (GDV) of Rs 1,650 crore.

Amit Kumar Sinha, MD & CEO of Mahindra Lifespaces, said the project marks the company’s strategic entry into South Mumbai’s premium real estate market, focusing on urban renewal.

The Mahalaxmi project will feature modern design, sustainable elements, and premium amenities, enhancing Mumbai’s skyline.

The site is located in a prime area and offers excellent connectivity to business districts, essential services, and leisure destinations in South Mumbai.

Mahindra Lifespaces also acquired 8.2 acres in North Bengaluru through its subsidiary, Anthurium Developers Ltd, with a GDV of Rs 1,000 crore.

The Bengaluru site, near the Bengaluru-Hyderabad highway, is close to the airport, IT hubs, and social infrastructure, just 1.8 km from the upcoming Doddajala metro station.

The project will focus on mid-premium residential apartments and marks Mahindra Lifespaces’ seventh venture in Bengaluru.

Currently, the firm’s market capitalisation stands at around Rs 5,504 crore.

At 10:16 AM, the shares of Mahindra Lifespace were trading 2.65% higher at Rs 355.80 on NSE.

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