Mahindra Lifespaces shares zoom 12% on partnering with Livingstone Infra

Mahindra Lifespaces Developers shares zoomed 11.8 per cent in trade on BSE, logging an intraday high at Rs 348.6 per share. The stock gained after the requisite regulatory processes, company partnered with Livingstone Infra Private Limited for a cluster redevelopment project in Mahalaxmi, with a Gross Development Value (GDV) of Rs 1,650 crore.

 

Around 12:27 PM, Mahindra Lifespaces share price was up 8.05 per cent at Rs 336.75 per share on BSE. In comparison, the BSE Sensex was up 0.22 per cent at 75,463.67. The market capitalisation of the company stood at Rs 5,222.58 crore. The 52-week high of the stock was at Rs 679.15 per share and the 52-week low was at Rs 300.05 per share.

 

 

"We hereby inform you that, post requisite regulatory processes, the Company has partnered with Livingstone Infra Private Limited for a cluster redevelopment project in Mahalaxmi, with a GDV of Rs 1,650 crore," the filing read.  ALSO READ | LIC gains 3% in advance talks with a standalone health insurance company

 

Located in the upscale Mahalaxmi area, the project site enjoys a prime position in one of South Mumbai’s most sought-after neighborhoods. 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 Ltd. (‘Mahindra Lifespaces’) brings the Mahindra Group’s philosophy of ‘Rise’ to India’s real estate and infrastructure industry through thriving residential communities and enabling business ecosystems. The company’s development 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.   ALSO READ | Stock Market LIVE Updates: Sensex, Nifty rangebound; SMIDs up 2%; PSB, Metal, Realty gain; IT down

 

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 41.7 per cent against Sensex's rise of 4.5 per cent.