Mahindra Lifespace to buy land parcels with potential of Rs 30-40 bn

Realty firm Mahindra Lifespace Developers is looking to acquire this fiscal few land parcels -- either outright or by forming partnerships with landowners -- that have a sales potential of Rs 30-40 billion. Mumbai-based Mahindra Lifespace Developers, part of business conglomerate Mahindra Group, is one of the leading real estate players in the country. The company's market cap recently touched USD 1 billion (about Rs 8,000 crore). The company's Managing Director and CEO, Arvind Subramanian said the company is looking to acquire new land parcels for business expansion in three focus cities -- Mumbai Metropolitan Region (MMR), Pune and Bengaluru. He highlighted that the company already acquired a land parcel this fiscal that has a gross development value (GDV) of Rs 17 billion and the deals pipelines are strong which the company would like to conclude. Also Read Maharashtra to start property e-registrations, introduce blockchain Mahindra Lifespace aims 2.5-fold jump in 3 years