Mahindra Lifespaces eyes half a dozen stressed projects in three cities

MD Sangeeta Prasad said the company would scale up business, take debt selectively and float more platforms

Mahindra Lifespaces, real estate development arm of Mahindra Group, is evaluating half a dozen stressed and redevelopment projects in Mumbai, Pune and Bengaluru, said a senior executive of the company.

Around 200 projects, with a cumulative 170,000 units, are stuck in the top seven cities, according to Anarock Property Consultants.

“Today, land owners are willing to sit at the table and willing to negotiate on payment terms. Earlier, they were not willing to negotiate,” said Sangeeta Prasad, MD, Mahindra Lifespaces. She says they are careful about partner risk in joint development projects. “If we do a joint development and do revenue sharem