Shares of Mahindra Lifespace were trading in the green on 13 October after the company acquired 5.38 acres of land at Wagholi, Pune.

The said land has a saleable area potential of approximately 1.5 million square feet for residential purposes.

The seller of the land is a third party who does not belong to the Promoter/Promoter Group/Group Companies.

The transaction for the land does not fall under the ambit of a Related part Transaction.

In September, the company announced the launch of the third phase of Mahindra Happinest Tathawade, which is a first-of-its-kind ‘Fusion Homes’ residential development in Pune.

The first and second phase of the project has already been sold out, making it the fastest-selling development in the micro market of PCMC. Phase three of the project will comprise exclusively of 2 BHK homes.

At 10:38 am, the shares of Mahindra Lifespace were trading at Rs 527.75 or 0.87% above its previous close on NSE.