Mahindra Lifespace to develop 4.8 acres land parcel in Dahisar

29 Oct 2021 CW Team

Mahindra Lifespace Developers, a realty arm of Mahindra Group, told the media that it has finalised to jointly develop on a 4.8 acre land parcel in Dahisar, Mumbai.

It is the first project of the company in Dahisar, and it will provide about 5 lakh sq ft of carpet area.

Arvind Subramanian, CEO and MD of Mahindra Lifespace, said that the project in Dahisar focuses on high performing micro-markets with a strong demand for projects by trusted companies. It provided success to the company, and it will expand the company's residential business in well-established areas with quick absorption.

Recently, the company reported a net profit of Rs 13.23 crore for the September quarter. The company's total income stood at Rs 65.70 crore in the second quarter (Q2) of FY22, with a growth of 75% from Rs 37.42 crore in the last quarter.

The consolidated debt stood at 6.7%, while the standalone debt stood at 5.7%. The market capitalisation of the company was Rs 4,258 crore on 30 September.

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Also read: Mahindra Lifespaces first to adopt ‘Stay-in-Place Formwork’ in large-scale residential project

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