Mahindra Lifespace Developers Ltd Share Price – NSE  / BSE

Construction, Small Cap

Mahindra Lifespace Developers, through its subsidiary Mahindra World City Developers (MWCDL), has announced the second phase of their Industrial Parks project in Tamil Nadu under the brand “Origins by Mahindra,” in partnership with Sumitomo Corporation, Japan. This expansion marks a significant step in enhancing industrial growth in the region.

The Joint Venture Agreement originally signed in 2015, with Sumitomo Corporation was further strengthened through a Supplemental Agreement which involves an investment of approximately Rs 225 crore by MWCDL and Sumitomo Corporation, Japan in Mahindra Industrial Park Chennai (MIPCL), in proportion of their existing shareholding. This new phase will also focus on the acquisition and development of land and associated infrastructure to establish an advanced industrial ecosystem.

MIPCL which currently spans over 307 acres, already hosts global and domestic companies that have set up their industrial facilities. Its objective is to play a pivotal role in supporting the region's industrial and economic growth and offer world-class infrastructure to businesses.

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Mahindra Lifespace Developers, through Anthurium Developers, wholly owned subsidiary of MLDL, today announced a joint development with GKW for a 37-acre land parcel in Bhandup, Mumbai. This land parcel will have a development potential of around 3.6 million square feet.

In line with its strategic vision, this deal bolsters MLDL's presence in Mumbai. It will be one of the largest urban mixed-use developments for MLDL, primarily focused on the residential segment, along with supporting commercial and retail components.

Situated in Bhandup, one of Mumbai's most dynamic real estate suburbs, the location offers excellent connectivity to commercial hubs and easy access to the rest of the city via the Jogeshwari-Vikhroli Link Road, the Eastern Express Highway, as well as excellent train and metro connectivity.

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Net Loss of Mahindra Lifespace Developers reported to Rs 14.02 crore in the quarter ended September 2024 as against net loss of Rs 18.95 crore during the previous quarter ended September 2023. Sales declined 57.18% to Rs 7.61 crore in the quarter ended September 2024 as against Rs 17.77 crore during the previous quarter ended September 2023.

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Mahindra Lifespace Developers has allotted 7000 equity shares under ESOS on 25 October 2024. Pursuant to this allotment, the issued equity capital of the Company has increased from Rs. 155,21,29,080 to Rs. 155,21,99,080 to and subscribed & paid-up equity capital of the Company has increased from Rs. 155,05,97,190 to Rs. 155,06,67,190.

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