Mahindra Lifespaces up 4% on inking pact for redevelopment in Mahalaxmi

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Mahindra Lifespace Developers shares gained 4 per cent in trade on Wednesday (February 19, 2025), and logged an intraday high at Rs 361.95 per share on BSE. The stock advanced after the company partnered with Livingstone Infra for a cluster redevelopment project in Mahalaxmi. The gross development value of the project is Rs 1,650 crore, as per the filing. 

 

Around 10:16 AM, Mahindra Lifespaces share price was up 2.04 per cent at Rs 354.85 per share on BSE. In comparison, the BSE Sensex was up 0.13 per cent at 76,064.78. The market capitalisation of the company stood at Rs 5,512.59 crore. The 52-week high of the stock was at Rs 679.15 per share and 52-week low was at Rs 342.8 per share.

 

"Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has partnered with Livingstone Infra Private Limited (LS) for a cluster redevelopment project in Mahalaxmi, with a Gross Development Value (GDV) of Rs 1,650 crore," the filing read.   According to Square Yards Data Intelligence, considering the sales transactions in Mahalaxmi over the past year, the property rate stands at around Rs 59,192 per square foot. Property prices in the area have appreciated by 12.32 per cent during the same period, the highest among prime Mumbai locations such as Mumbai Central and Lower Parel.

 

 

The redevelopment project site is located in the upscale Mahalaxmi area, a prime position in one of South Mumbai. A key advantage of the location is its exceptional connectivity, which ensures convenient access to major business districts, essential services, and leisure destinations across South Mumbai. 

 

Established in 1994, Mahindra Lifespace Developers' footprint spans 39.44 million sq. ft. (saleable area) of completed, ongoing and forthcoming residential projects across seven Indian cities; and a gross area of over 5000 acres of ongoing and forthcoming projects under development/management at its integrated developments / industrial clusters across four cities. 

 

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. 

 

In the past one year, Mahindra Lifespaces shares have lost 42.8 per cent against Sensex's rise of 4.4 per cent.