Mahindra Lifespace Developers, the real estate and infrastructure arm of the Mahindra Group, has been selected as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project is expected to have a development potential of Rs 12.50 billion and will cover a 3.08-acre land parcel located 1.4 km from the upcoming Mumbai Metro Line 5 and 0.8 km from the Goregaon-Mulund Link Road.

The redevelopment plan focuses on incorporating sustainable design, value creation for residents, and timely project completion. The project’s connectivity to employment hubs in South Mumbai, Navi Mumbai, and Thane positions it as a significant contributor to the area’s growth.

Mahindra Lifespaces has a presence across seven Indian cities with 41.11 million square feet of saleable area across completed, ongoing, and upcoming residential developments. Additionally, it manages over 5,000 acres in integrated and industrial clusters across four locations.

The Mulund West real estate market has shown strong demand. Between April 2024 and March 2025, the area recorded 1,891 new property sale transactions worth Rs 39.60 billion, according to data from Square Yards Data Intelligence. Property prices in the area rose from Rs 33,779 per sq ft in Q1 CY24 to Rs 34,534 per sq ft in Q1 CY25.

In other recent developments, Mahindra Lifespaces was appointed in April as the preferred partner for the redevelopment of two residential societies in Lokhandwala Complex, Andheri (West), Mumbai, with a gross development value (GDV) of approximately Rs 12 billion. In January, its subsidiary Anthurium Developers (ADL) acquired 8.2 acre of land in North Bengaluru, with a GDV of Rs 10 billion.

The company also reported a 19.02 per cent year-on-year increase in its Q4 FY25 profit (attributable to the owners of the parent), reaching Rs 850.1 million.

News source: Business Standard