Mahindra Lifespaces announces Joint Development in Mumbai

Mahindra Lifespace Developers Ltd., the real estate arm of Mahindra Group, has finalised terms for a joint development on a 4.8-acre land parcel in Dahisar East. Strategically located on the Western Express Highway, this is Mahindra Lifespaces' first project in Dahisar and will offer approximately 5 lakh sq. ft. of carpet area.

Arvind Subramanian, MD & CEO, Mahindra Lifespace Developers Ltd., said, "The Mumbai Metropolitan Region is a priority market for growth in our residential business and Dahisar is one of the most attractive residential destinations in the city, owing to good road-rail connectivity and welldeveloped social and civic infrastructure. Three upcoming metro lines will further enhance its accessibility and attractiveness for families. Our foray into Dahisar is in line with our focus on highperforming micro-markets with strong demand for projects by trusted brands. We have seen success with this strategy and will continue to expand our residential business in well-established suburbs with a track record of quick absorption."

Shares of Mahindra Lifespace Developers Limited was last trading in BSE at Rs. 275.55 as compared to the previous close of Rs. 264.75. The total number of shares traded during the day was 19494 in over 889 trades.

The stock hit an intraday high of Rs. 283.60 and intraday low of 268.50. The net turnover during the day was Rs. 5403277.00.

Source : Equity Bulls

Keywords

MahindraLifespaceDevelopers INE813A01018 MAHLIFE Realty JointDevelopment DahisarEast WesternExpressHighway