Shares of Mahindra Lifespace Developers Ltd fell nearly 1% after touching a day’s high of Rs 424.65 on 3rd December. This occurred despite the company announcing that it has secured a new redevelopment mandate in Matunga with a gross development value of Rs 1,010 crore.

The company said it has been selected as the preferred development partner for a major residential redevelopment project spanning 1.53 acres.

Mahindra Lifespace said the upcoming project will replace the existing housing cluster with a modern community featuring upgraded infrastructure, contemporary design, and improved lifestyle amenities. The location offers strong connectivity to key social and business hubs. This includes Shivaji Park, educational institutions, healthcare facilities, retail centres, and nearby metro links.

“Matunga is a well-established and highly valued neighbourhood, and this redevelopment allows us to contribute thoughtfully to its next chapter with homes designed for modern lifestyles,” said Vimalendra Singh, chief business officer – residential, Mahindra Lifespace Developers.

The company is also gearing up for a sharper scale-up. CEO Amit Kumar Sinha recently outlined a growth plan of Rs 4,000–6,000 crore. He noted that additional capital support could accelerate expansion. Mahindra Lifespace is pushing to strengthen its redevelopment and city-focused strategy. It targets Rs 10,000 crore in pre-sales by FY30.

It also plans to launch projects worth Rs 5,000–6,000 crore during the remainder of FY26.

At 11:37 AM, shares of Mahindra Lifespace Developers were trading 0.38% lower at Rs 417.95 on NSE.

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