Page 3 - Mahindra Lifespace Developers

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Mahindra Lifespaces to buy land parcels with Rs 3k-crore sales value

Realty firm Mahindra Lifespace Developers is looking to acquire a few land parcels this fiscal to build housing projects with sales potential of Rs 3,000-4,000 crore, a top company official said. The company will acquire these land parcels either through outright purchase or by forming Joint Development Agreements (JDAs) with landowners. Mumbai-based Mahindra Lifespace Developers Ltd, part of Mahindra Group, is one of the leading real estate players in the country. The company's market cap recently touched USD 1 billion (about Rs 8,000 crore). In an interview with PTI, the company's Managing Director (MD) and Chief Executive Officer (CEO) Arvind Subramanian said Mahindra Lifespace is looking to acquire new land parcels for business expansion in three focus cities -- Mumbai Metropolitan Region (MMR), Pune and Bengaluru. He highlighted that the company already acquired a land parcel this fiscal that has a Gross Development Value (GDV) of Rs 1,700 crore and the deal pipelines are ...

Real estate demand from industries is seeing a steep rise: Arun Nanda

After working for 50 years in various capacities in the Mahindra group, Nanda retired as the Chairman of Mahindra Lifespaces last week

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Mahindra Lifespace shares rally nearly 8% after earnings announcement

Its consolidated total income stood at Rs 408.2 crore in the last fiscal, against Rs 187.8 crore FY21, according to a regulatory filing

Mahindra Lifespace rallies 20% on plan to buy land parcel from M&M

M&M said it will not have any impact on the operations of the company as no operations of the Auto and Farm Sectors are carried out on the land being sold.

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Mahindra Lifespace zooms 19% as firm to consider bonus issue plan

The board at its meeting scheduled on Wednesday, July 28, 2021, will consider the proposal for the issuance of bonus equity shares

Mahindra Lifespace goes aggressive in buying land parcels for new projects

Analysts expect its sales bookings value to grow 39 per cent on compound annual growth rate (CAGR) basis between FY21 and FY25

Mahindra Lifespace Developers shifts gear; charts aggressive growth plans

The company, which lagged peers Godrej Properties and Prestige Estates Projects, seeks to invest Rs 500 cr every year in buying land parcels for new projects

Mahindra Lifespace to buy 3.2 acre land in Pune for expansion plans

Mahindra Lifespace Developers has agreed to buy 3.2 acre land in Pune from parent company Mahindra & Mahindra as part of its expansion plan. The company said it has "finalised the terms to purchase approximately 3.2 acres of land in Pimpri, Pune, from Mahindra & Mahindra Ltd". The purchase is expected to be concluded in around six months, subject to the fulfillment of agreed conditions by both buyer and seller. This new project will offer about 3.25 lakh sq ft of carpet area. When it is launched, this will be Mahindra Lifespaces' fourth project in Pune. Arvind Subramanian, managing director & CEO of Mahindra Lifespace Developers Ltd, said, "The proposed acquisition will help us grow our presence in this high-performing micro-market and is in line with our residential expansion strategy." Established in 1994, Mahindra Lifespace Developers Ltd is the real estate and infrastructure development business of the USD 19.4-billion Mahindra Group. The company's development ...

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Housing sales reviving, end-user demand may strengthen: Mahindra Lifespace

Housing sales as well as enquiries from prospective homebuyers, which were badly hit during April-June due to the COVID-19 pandemic, have started to revive gradually and end-user demand is likely to strengthen in coming months, a top official of Mahindra Lifespace said on Thursday. In an interview with PTI, Mahindra Lifespace Developers MD & CEO Arvind Subramanian said the company did not witness much cancellation of apartments booked by customers as widely feared after the outbreak of COVID-19 and subsequent lockdown. "Just like the economy, businesses were severely challenged in the first quarter of this fiscal year. There was almost a standstill in housing sales and construction activities," he said. However, Subramanian said, "The good news is that our existing customers are committed to their bookings. We are not seeing a large cancellation which could have been one of the outcomes." He said the sales bookings and enquiries from customers in July increased as compared to the .

Mahindra Lifespace to raise $50 mn from IFC to support $210-mn projects

The Mahindra Group's real estate arm Mahindra Lifespace Developers Limited (MLDL) plans to raise $50 million from International Finance Corporation (IFC). The investment will support company's plan to develop three industrial clusters (ICs) in Rajasthan, Gujarat and Maharashtra at a cost of over $210 million.IFC proposed investment is a combination of equity and subordinated debt, with an equal investment from MLDL in a combination of instruments and assets. IFC will invest in one or more special purpose vehicles (SPVs), promoted by MLDL.The three ICs are planned to be developed over the next 4-6 years in a staggered manner, with full project completion by 2025.The IC near Pune will be developed over an area of approximately 511 acres. It will comprise of a domestic tariff area and engineering and auto ancillary units. Around 152 acres has already been purchased by Knowledge Township Limited (KTL), a subsidiary of MLDL.For IC near Jaipur, the SPV would utilise 500 acres from the ...