Mahindra Lifespaces® acquires 9.4 acres land parcel in Whitefield, Bengaluru

Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, announced the acquisition of 9.4 acres of land in Whitefield, Bengaluru. The land will have ~1.2 million square feet of FSI potential and a Gross Development Value of ~ INR 1700 crore, primarily comprising mid-premium residential apartments.

Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said, "Bengaluru continues to remain a focus market for us, and we are excited to expand our footprint within the city. This aligns with our strategy to deepen our presence in India's thriving urban centers, particularly within our focus markets. We remain committed to delivering top-notch projects that resonate with the dynamic demands of Bengaluru's home buyers, who have demonstrated their willingness to appreciate and buy high-quality projects."

The site is in the vibrant hub of Whitefield in Bengaluru, offering access to tech parks, commercial spaces, and well-developed social infrastructure, including educational institutes, healthcare facilities, and retail in proximity. Additionally, the land is close to the Whitefield Hope Farm Metro station, which offers excellent connectivity to central and south Bengaluru.

Mahindra Lifespaces expects to launch the first phase of the project within the next twelve months.

Shares of Mahindra Lifespace Developers Limited was last trading in BSE at Rs. 554.50 as compared to the previous close of Rs. 568.15. The total number of shares traded during the day was 17790 in over 963 trades.

The stock hit an intraday high of Rs. 568.55 and intraday low of 546.20. The net turnover during the day was Rs. 9890781.00.

Source : Equity Bulls

Keywords

MahindraLifespaceDevelopers INE813A01018 Realty LandAcquisition Whitefield Bengaluru