Real estate developer Mahindra Lifespace Developers Ltd has added three housing societies to its residential redevelopment portfolio in Mumbai, with the projects carrying a combined revenue potential of ₹1,500 crore from the saleable area.
According to a regulatory filing, the company has added two societies in Borivali to a redevelopment project and another society to an existing redevelopment project in Chembur.
Together, the three societies will generate a total revenue potential of ₹1,500 crore. Consequently, the latest additions will strengthen Mahindra Lifespace’s residential redevelopment presence across key locations in Mumbai.
Vimalendra Singh, Chief Business Officer, Residential, Mahindra Lifespace Developers Ltd., said, “Mumbai’s redevelopment market gives us an opportunity to grow our residential business in established locations while bringing our strong development track record to projects that meaningfully contribute to neighbourhoods.”
Furthermore, Singh said the three new societies will help the company expand its redevelopment portfolio across Mumbai. The company will continue to leverage redevelopment opportunities in established neighbourhoods as it grows its residential business.
Mahindra Lifespace Developers Ltd, the real estate arm of the Mahindra Group, operates as one of India’s prominent real estate developers. The company’s latest Mumbai additions further strengthen its focus on residential redevelopment in established urban markets.
