Mahindra Lifespace Developers Expands Portfolio with Pune Land Acquisition

13 Oct 2023 , 11:24 AM

Mahindra Lifespace Developers acquired approximately 5.38 acres of land in Wagholi, Pune.In early trade on October 12, their shares were trading slightly higher, with a quote of Rs 525.25, up by Rs 2.10 or 0.40 % on the BSE.

The acquired land has a potential saleable area of around 1.5 million square feet for residential development. The seller is a third party unrelated to the Promoter/Promoter Group/Group companies, making it exempt from Related Party Transactions.

In September, the company launched the third phase of Mahindra Happinest Tathawade, featuring 2 BHK homes and marked as one of the fastest-selling developments in the PCMC micro market. Mahindra Lifespaces’ portfolio includes 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.

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