Mahindra Lifespace Developers has added three housing societies to its residential redevelopment portfolio in Mumbai, with a combined revenue potential of Rs. 15 bn. The projects are located in Borivali and Chembur and will generate saleable residential area when completed.

The company said in a regulatory filing that two of the societies were added to a redevelopment project in Borivali. The third society forms part of an existing redevelopment project in Chembur, expanding the company’s presence in established locations across the city.

Mahindra Lifespace said the three projects together have an estimated revenue potential of Rs. 15 bn. The filing did not provide details on the expected completion timelines, development costs, construction plans or the projected number of homes to be delivered through the redevelopment initiatives.

Vimalendra Singh, chief business officer for residential operations at Mahindra Lifespace Developers, said the additions would support the company’s residential growth strategy in Mumbai. He stated that the city’s redevelopment market offered opportunities to expand in established locations while applying the company’s development experience to projects with an impact on local neighbourhoods.

With the latest additions, Mahindra Lifespace has further expanded its redevelopment portfolio across Mumbai. The company is the real estate arm of Mahindra Group and operates in the residential development segment, including projects involving the redevelopment of existing housing societies.