Mahindra Lifespace targets ₹1200 crore revenue from two housing redevelopment projects in Mumbai
Mahindra Lifespace has said that it has been appointed as the preferred partner for the redevelopment of two residential societies in Mumbai’s Andheri West
Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure arm of the Mahindra Group, announced on April 2 that it will be taking up two housing redevelopment projects in Lokhandwala Complex, Andheri West, Mumbai, from which it is expecting a revenue of ₹1,200 crore.
In a regulatory filing on April 2, Mahindra Lifespace informed that the company has been “appointed as the preferred partner for the redevelopment of two residential societies in the Lokhandwala Complex, Andheri West, Mumbai, with a project value of approximately ₹1,200 crore.”
The project will be pursued under the state's cluster development scheme. The redevelopment site is strategically located 15 minutes from the upcoming Versova-Bandra Sealink, providing excellent connectivity to other parts of the city, it said.
"This strategic milestone significantly fortifies our presence in Mumbai's western suburbs, a pivotal market for our growth ambitions. We are most excited to leverage our expertise to create an exceptional living experience," said Amit Kumar Sinha, managing director and CEO, Mahindra Lifespace Developers Ltd.
“This project is a testament to the trust that customers have placed in Mahindra Lifespaces. They value our proven track record of delivering high-quality living spaces and our commitment to transparency. At Mahindra Lifespaces, we prioritize innovative designs, timely delivery, and uncompromising quality. By combining these values with our expertise in creating premium residences, we aim to exceed our customers' expectations and enhance the neighbourhood,” Vimalendra Singh, Chief Business Officer - Residential, Mahindra Lifespace Developers Ltd, said.
The area is also witnessing robust development of social and leisure infrastructure, including the upcoming coastal road. This premium project will offer residents a unique blend of comfort, convenience, and connectivity, the company added.
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