Mahindra targets Rs 8-10 Bn sales in housing

20 Jun 2024 CW Team

Due to growing demand, real estate company Mahindra Lifespace Developers Ltd. plans to significantly boost its yearly sales of residential and commercial space to Rs 80?10 billion by the 2027?2028 fiscal year. Mahindra Lifespace, a Mumbai-based company, sold residential and commercial space for Rs 2,698 crore in the most recent fiscal year, compared to Rs 22 billion in the 2022?2023 fiscal year. In its most recent presentation at an investor meeting, Mahindra Lifespace stated that its two verticals, an industrial park and a residential area, are expected to generate revenues between Rs 80 and Rs 10 billion in the fiscal year 2027?2028. In addition to aggressively purchasing land, Mahindra Lifespace has been collaborating with landlords to create residential properties. It has also started working on Mumbai's housing societies' renovations. Mahindra Lifespace had a slight decrease in consolidated net profit to Rs 0.97 billion in the previous fiscal year despite decreased revenue. The previous year's net profit was Rs. 1.01 billion. The company's overall revenue decreased from Rs 6.59 billion in 2022?2023 to Rs 2.79 billion in the most recent fiscal year. Amit Sinha, Managing Director and CEO of Mahindra Lifespace Developers, mentioned that they closed FY24 with their highest ever annual sales, driven by successful launches throughout the year. On the operational front, Mahindra Lifespace had achieved its highest ever pre-sales of Rs 23 billion in the residential business during the last fiscal year (with a saleable area of 2.47 million sq ft and a RERA carpet area of 1.84 million square feet). Additionally, the company had achieved land leasing of 119.4 acres in the industrial business for Rs 3.70 billion. It was noted that Mahindra Lifespace, established in 1994, had a development footprint spanning 37.33 million sq ft of completed, ongoing, and forthcoming residential projects across seven Indian cities. The company also had over 5,000 acres of ongoing and forthcoming projects under development or management at its integrated developments and industrial clusters across four locations

Infrastructure Urban

06 Apr 2026

InsideFPV Delivers ₹10 Crore Kamikaze Drone Order Under MoD’s EPR Route

InsideFPV, a Surat-based drone technology manufacturer, has successfully executed a ₹10 crore defence contract to supply indigenous kamikaze drones under the Ministry of Defence’s Emergency Procurement Route (EPR). The company completed the delivery of hundreds of FPV kamikaze drone platforms within a rapid two-month timeframe, highlighting its ability to meet urgent military procurement timelines.The supply orders were fulfilled under the emergency procurement mechanism, which is aimed at fast-tracking acquisitions for immediate operational needs. InsideFPV’s quick execution reflects it..

Vedanta Resources Secures Fitch Upgrade to ‘BB-’, Best Rating Since 2015

Vedanta Resources Limited (VRL), a global player in metals, oil & gas, critical minerals, power and technology, has received a credit rating upgrade from Fitch Ratings, marking its strongest bond rating in over a decade.Fitch has raised Vedanta Resources’ Long-Term Foreign-Currency Issuer Default Rating (IDR) to ‘BB-’ from ‘B+’, while maintaining a Stable Outlook. The agency also upgraded VRL’s senior unsecured rating, along with the ratings of US dollar-denominated bonds issued by Vedanta Resources Finance II Plc and guaranteed by VRL, to ‘BB-’.The upgrade represents Vedan..

NAREDCO NextGen NCR Chapter Launched

The NAREDCO NextGen NCR Chapter was recently launched at Excelerate 2026 in Mumbai, marking a key step towards integrating emerging real estate leaders from the National Capital Region with the national platform. The initiative aims to promote sustainable and responsible urban development through collaboration and knowledge exchange.The event brought together young developers, entrepreneurs, and professionals from across NCR, including Noida, Gurugram, Ghaziabad, Faridabad, Bhiwadi, and Meerut. Discussions focused on urban development, finance, sustainability, innovation, and policy, emphasisi..