Mahindra Lifespace Developers Ltd, the real estate arm of the Mahindra Group, has acquired 13.46 acres of land in Pune to develop a housing project valued at around Rs 35 billion, the company said in a regulatory filing late on Friday.

The land parcel is located in the premium neighbourhood of Nande–Mahalunge in Pune. While the company did not disclose the seller or the deal value, it said the land offers a development potential of approximately Rs 35 billion.

In a separate announcement, Mahindra Lifespace also revealed plans to redevelop four housing societies in Malad (West), Mumbai, with an expected revenue potential of Rs 8 billion from the sale of free area in the redeveloped project.

“Spread across about 1.65 acres, the Malad redevelopment offers a total development potential of Rs 8 billion,” the company said.

Mahindra Lifespace’s development portfolio covers 49.26 million square feet of completed, ongoing, and forthcoming residential projects across seven Indian cities. In addition, the company manages or is developing over 5,000 acres of integrated developments and industrial clusters across four major locations in India.

The new Pune acquisition aligns with Mahindra Lifespace’s strategy to strengthen its presence in key urban growth markets and tap into the city’s rising demand for premium and mid-segment housing.