Mahindra Lifespaces Eyes Rs 100 Bn Sales by FY30

21 May 2025 CW Team

Mahindra Lifespace Developers, the real estate arm of the Mahindra Group, is aiming to more than triple its sales to Rs 100 billion by FY30, up from Rs 33 billion achieved in FY25.

Managing Director and CEO Amit Kumar Sinha stated that the company already holds 70–80 per cent of the land bank required to meet this target. “We’ve significantly scaled up our GDV (gross development value), but we’re not under pressure to chase land deals,” he said. GDV represents the estimated revenue a development project could generate upon completion.

Mahindra Lifespaces’ annual GDV has expanded from Rs 44 billion in FY24 to Rs 181 billion in FY25, and currently stands at Rs 390 billion, including unlaunched projects in Thane, Mulund, and Jaipur.

The company is shifting focus from affordable to premium housing, citing stronger economics and reduced buyer interest in budget housing. While affordable housing developments in Kalyan, Palghar, Pune, and Chennai will be completed and delivered, new launches are planned in premium areas such as Whitefield (Bengaluru), Malad, Bhandup, Mahalaxmi (Mumbai), and Pune.

Sinha noted that although residential demand remains healthy, price increases are expected to moderate to single digits, compared to 10–20 per cent in recent years. “Volumes will be strong, but pricing will remain subdued,” he added.

He also highlighted a shift in consumer preference from Grade B, C and D developers to Grade A players, due to expectations of better quality and timely delivery. “Where non-branded players are exiting, Grade A developers are gaining,” he said.

In its Integrated Cities and Industrial Cluster (IC&IC) segment, the company leased 85.1 acres in FY25 valued at Rs 4.2 billion, compared to 119.5 acres worth Rs 3.7 billion in FY24. Mahindra Lifespaces has a 5,737-acre IC&IC portfolio, with 1,634 acres available for leasing, projected to generate Rs 60 billion in revenue and Rs 15–20 billion in PAT over the next 8–10 years.

Sinha stated that the company is not pursuing expansion into new regions but is deepening its footprint in existing hubs like Mahindra World City in Chennai and Jaipur.

To support its growth plans, Mahindra Lifespaces has announced a Rs 15 billion rights issue, which, once completed, is expected to reduce debt and enhance the company’s business development capacity. “The rights issue will unlock capital for our next growth phase,” said Sinha.

According to Equirus Capital, the firm’s robust project pipeline and recent rights issue position it well for sustained growth and expansion in the near to medium term.

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Mahindra Lifespace Developers, the real estate arm of the Mahindra Group, is aiming to more than triple its sales to Rs 100 billion by FY30, up from Rs 33 billion achieved in FY25.Managing Director and CEO Amit Kumar Sinha stated that the company already holds 70–80 per cent of the land bank required to meet this target. “We’ve significantly scaled up our GDV (gross development value), but we’re not under pressure to chase land deals,” he said. GDV represents the estimated revenue a development project could generate upon completion.Mahindra Lifespaces’ annual GDV has expanded from Rs 44 billion in FY24 to Rs 181 billion in FY25, and currently stands at Rs 390 billion, including unlaunched projects in Thane, Mulund, and Jaipur.The company is shifting focus from affordable to premium housing, citing stronger economics and reduced buyer interest in budget housing. While affordable housing developments in Kalyan, Palghar, Pune, and Chennai will be completed and delivered, new launches are planned in premium areas such as Whitefield (Bengaluru), Malad, Bhandup, Mahalaxmi (Mumbai), and Pune.Sinha noted that although residential demand remains healthy, price increases are expected to moderate to single digits, compared to 10–20 per cent in recent years. “Volumes will be strong, but pricing will remain subdued,” he added.He also highlighted a shift in consumer preference from Grade B, C and D developers to Grade A players, due to expectations of better quality and timely delivery. “Where non-branded players are exiting, Grade A developers are gaining,” he said.In its Integrated Cities and Industrial Cluster (IC&IC) segment, the company leased 85.1 acres in FY25 valued at Rs 4.2 billion, compared to 119.5 acres worth Rs 3.7 billion in FY24. Mahindra Lifespaces has a 5,737-acre IC&IC portfolio, with 1,634 acres available for leasing, projected to generate Rs 60 billion in revenue and Rs 15–20 billion in PAT over the next 8–10 years.Sinha stated that the company is not pursuing expansion into new regions but is deepening its footprint in existing hubs like Mahindra World City in Chennai and Jaipur.To support its growth plans, Mahindra Lifespaces has announced a Rs 15 billion rights issue, which, once completed, is expected to reduce debt and enhance the company’s business development capacity. “The rights issue will unlock capital for our next growth phase,” said Sinha.According to Equirus Capital, the firm’s robust project pipeline and recent rights issue position it well for sustained growth and expansion in the near to medium term.

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