Mahindra Lifespaces® acquires ~2.0 acres land parcel in Whitefield, East Bengaluru

Mahindra Lifespace Developers Ltd. today announced the purchase of approximately 2.0 acres of land in Whitefield, East Bengaluru. The land is estimated to have a developable potential of approximately 0.2 million square feet of saleable area and a Gross Development Value of approximately INR 225 crore, primarily comprising mid-premium residential apartments.

Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said, "This acquisition marks yet another significant step in our strategy of expanding our footprint in key micro markets and reinforces our vision to create sustainable urban communities. We look forward to bringing our expertise and innovation to this new project, further enhancing our presence in Bengaluru. The city's strong market potential makes it a strategic choice for our continued growth."

Located in the vibrant area of Whitefield, the site offers seamless connectivity to tech parks and commercial offices, complemented by a robust social infrastructure that includes top-notch educational institutes, healthcare facilities, and retail options. The neighborhood is renowned for its premium residential communities, bustling shopping malls, esteemed educational institutions, and a plethora of entertainment venues.

Shares of Mahindra Lifespace Developers Limited was last trading in BSE at Rs. 564.60 as compared to the previous close of Rs. 553.10. The total number of shares traded during the day was 19178 in over 1046 trades.

The stock hit an intraday high of Rs. 572.00 and intraday low of 555.20. The net turnover during the day was Rs. 10821636.00.

Source : Equity Bulls

Keywords

MahindraLifespaceDevelopers INE813A01018 LandParcel Acquisition Whitefield EastBengaluru