Mahindra Lifespaces inks Rs 1,650 crore pact with Livingstone Infra

The project is located in Mahalaxmi, a prime Mumbai area

Mahindra Lifespace Developers (Mahindra Lifespaces), the real estate and infrastructure development arm of the Mahindra Group, has partnered with Livingstone Infra for a cluster redevelopment project in Mumbai’s Mahalaxmi, with a gross development value (GDV) of Rs 1,650 crore.

 

Amit Kumar Sinha, managing director and chief executive officer of Mahindra Lifespace Developers Ltd, said, “This development marks Mahindra Lifespaces’ strategic expansion into South Mumbai’s premium real estate market by creating residences that contribute to Mumbai’s urban renewal. The redevelopment aims to showcase cutting-edge design, sustainable elements, and premium amenities, enhancing the city’s skyline.”

 

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.

 

 

Recently, the company was appointed as the developer for a redevelopment project in Lokhandwala Complex, Andheri West, Mumbai. The project offers a GDV of approximately Rs 950 crore.

 

In January 2025, the company, through its subsidiary Anthurium Developers Ltd (ADL), acquired 8.2 acres of land in North Bengaluru with a GDV of Rs 1,000 crore.

 

Additionally, the company’s loss for the third quarter of the financial year 2024-25 (Q3 FY25) widened to Rs 22.5 crore, compared to a loss of Rs 14 crore in Q2 FY25 and a profit of Rs 50 crore in Q3 FY24. The company's pre-sales for the quarter stood at Rs 334 crore, down by 24.61 per cent, year-on-year.

 

The company’s development footprint spans 39.44 million square feet of saleable area, including completed, ongoing, and forthcoming residential projects across seven Indian cities, and a gross area of over 5,000 acres of ongoing and forthcoming projects under development or management at its integrated developments and industrial clusters across four cities.