Mahindra Lifespaces to redevelop Mulund West project worth ₹1,250 crore

The real estate arm of the Mahindra Group will lead redevelopment of a premium housing society in Mulund West, with proximity to Metro Line 5 and key road links

Mahindra Lifespace Developers, the real estate and infrastructure development arm of the Mahindra Group, has been appointed as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project has an estimated development potential of ₹1,250 crore.

 

The redevelopment will span a 3.08-acre land parcel located 1.4 kilometres (km) from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road.

 

Focus on design, sustainability and timely delivery 

Vimalendra Singh, chief business officer – residential, Mahindra Lifespace Developers, said, “At Mahindra Lifespaces, our redevelopment philosophy centres around creating value for residents and the city. We aim to blend design excellence with sustainability and on-time delivery. With robust connectivity and access to employment hubs in South Mumbai, Navi Mumbai and Thane, this project is poised to be a key contributor to the area's continued growth story.” 

 

 

Wide presence across Indian cities 

Mahindra Lifespaces’ development footprint spans 41.11 million square feet (saleable area) of completed, ongoing and forthcoming residential projects across seven Indian cities. It also has over 5,000 acres of ongoing and forthcoming projects under development or management at its integrated developments and industrial clusters across four locations.

 

Mulund West realty sees strong demand 

Between April 2024 and March 2025, Mulund West recorded 1,891 new property sale transactions with a gross sales value of Rs 3,960 crore, according to Square Yards Data Intelligence, a real estate data analytics firm.

 

As of the first quarter of the calendar year 2025 (Q1 CY25), the property rate in the area stood at ₹34,534 per square foot, up from ₹33,779 per square foot in Q1 CY24.

 

Other recent developments by Mahindra Lifespaces 

In April, the company announced its appointment as the preferred partner for the redevelopment of two residential societies in the Lokhandwala Complex, Andheri (West), Mumbai, with a gross development value (GDV) of approximately ₹1,200 crore.

 

Earlier, in January, the company, through its subsidiary Anthurium Developers Ltd (ADL), acquired 8.2 acres of land in North Bengaluru, with a GDV of ₹1,000 crore. 

 

Q4 profit rises 19 per cent Y-o-Y 

Mahindra Lifespaces’ profit (attributable to the owners of the parent) for the fourth quarter of the financial year 2024-25 (Q4 FY25) rose 19.02 per cent year on year (YoY) to ₹85.1 crore.