Mahindra Lifespaces, Actis enter JV for industrial, logistics real estate across India

6 Oct 2022 , 12:56 PM

Mahindra Lifespace Developers Limited, the Mahindra Group’s real estate and infrastructure development arm, announced that it has formed a joint venture platform with Actis, a leading global investor in sustainable infrastructure, to develop industrial and logistics real estate facilities across India.

Up to 100 acres of land with ready infrastructure in each of the two Mahindra World Cities, with a built-up potential of more than two million square feet, have been identified as seed sites to be bought and developed by the Joint Venture Platform over time, subject to the necessary clearances.

The Joint Venture will also buy and develop other greenfield and brownfield properties in important areas across India, with the goal of becoming a premier provider of real estate solutions to global and local enterprises.

The original investment in the firm, including debt, is believed to be Rs2,200 crore.

Actis will own the majority of the JV, with Mahindra Lifespaces holding a large minority share. Industrial and warehouse properties have emerged as a high-growth real estate asset class, backed by expanding consumer demand and increased manufacturing investment. 

At around 12.58 PM, Mahindra Lifespace was trading at Rs477.15 up by 0.97% from its previous closing of Rs472.55 on the BSE. The scrip touched intraday high and low of Rs481.75 and Rs468.60 respectively.

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