Mahindra Lifespaces Signs Rs 16.50 Bn Deal with Livingstone Infra

19 Feb 2025 CW Team

Mahalaxmi has witnessed a significant rise in property prices, with the current rate averaging Rs 59,192 per square foot. Over the past year, prices in the area have increased by 12.32 per cent, the highest appreciation among prime Mumbai locations, including Mumbai Central and Lower Parel.

Mahindra Lifespaces was recently appointed as the developer for another redevelopment project in Lokhandwala Complex, Andheri West, Mumbai. This project has a GDV of approximately Rs 9.50 billion. In January 2025, through its subsidiary Anthurium Developers (ADL), the company acquired 8.2 acres of land in North Bengaluru, with an estimated GDV of Rs 10 billion.

Financially, the company reported a net loss of Rs 220.5 million for Q3 FY25, widening from a loss of Rs 140 million in Q2 FY25 and a profit of Rs 500 million in Q3 FY24. Pre-sales for the quarter reached Rs 3.34 billion, reflecting a year-on-year decline of 24.61 per cent.

Mahindra Lifespaces’ development portfolio spans 39.44 million square feet of saleable area across seven Indian cities, including completed, ongoing, and upcoming residential projects. Additionally, its integrated developments and industrial clusters cover over 5,000 acres across four cities, contributing to the company’s expansion in urban and industrial real estate.

News source: Business Standard

Mahindra Lifespace Developers (Mahindra Lifespaces), the real estate and infrastructure arm of the Mahindra Group, has collaborated with Livingstone Infra for a cluster redevelopment project in Mumbai’s Mahalaxmi. The project has a gross development value (GDV) of Rs 16.50 billion and marks Mahindra Lifespaces’ expansion into South Mumbai’s premium real estate segment. The redevelopment initiative focuses on modern design, sustainability, and high-end amenities, contributing to the city’s urban transformation. Mahalaxmi has witnessed a significant rise in property prices, with the current rate averaging Rs 59,192 per square foot. Over the past year, prices in the area have increased by 12.32 per cent, the highest appreciation among prime Mumbai locations, including Mumbai Central and Lower Parel. Mahindra Lifespaces was recently appointed as the developer for another redevelopment project in Lokhandwala Complex, Andheri West, Mumbai. This project has a GDV of approximately Rs 9.50 billion. In January 2025, through its subsidiary Anthurium Developers (ADL), the company acquired 8.2 acres of land in North Bengaluru, with an estimated GDV of Rs 10 billion. Financially, the company reported a net loss of Rs 220.5 million for Q3 FY25, widening from a loss of Rs 140 million in Q2 FY25 and a profit of Rs 500 million in Q3 FY24. Pre-sales for the quarter reached Rs 3.34 billion, reflecting a year-on-year decline of 24.61 per cent. Mahindra Lifespaces’ development portfolio spans 39.44 million square feet of saleable area across seven Indian cities, including completed, ongoing, and upcoming residential projects. Additionally, its integrated developments and industrial clusters cover over 5,000 acres across four cities, contributing to the company’s expansion in urban and industrial real estate. News source: Business Standard

Infrastructure Transport

15 May 2026

MMRDA Removes 1.14 lakh m of Metro Barricades

In a bid to ease congestion and improve urban mobility during monsoon, MMRDA has undertaken one of the largest coordinated barricade removal and monsoon preparedness drives across its ongoing metro and infrastructure projects.With substantial progress achieved in viaduct and structural works across multiple metro corridors, barricades from completed stretches beneath metro viaducts are being systematically removed, restoring maximum possible road space before the monsoon. Wider carriageways across key arterial roads are expected to improve traffic flow, reduce congestion, support better rainwa..

Infrastructure Transport

15 May 2026

Pune Division to Remove All Diamond Crossings by Year-End

The Pune railway division has announced plans to remove all 16 diamond crossings by the end of 2026 as part of a major yard remodelling project following the derailment of a Vande Bharat Express at Pune Junction on April 27. Railway authorities said the replacements aim to improve safety and streamline train operations across the busy station. The decision followed a Central Railway finding that the accident involved a non-standard diamond crossing and highlighted the need for replacement. Regular maintenance of existing crossings will continue until the replacement work is completed. Official..

Infrastructure Urban

15 May 2026

Goa Declares 80 Million Square Metres No Development Zone

The Goa state government has declared 80 million square metres (mn) of land a no development zone, designating the area as protected from new construction. The notification reclassifies tracts across the state under a no development category for planning and regulatory purposes. The declaration signals a formal halt to new building permits within the defined zone. Authorities indicated that maps will be issued to show broad boundaries while detailed surveys will refine precise limits. The move transfers responsibility for enforcement to local planning authorities and relevant departments, whic..