Mahindra Lifespace Developers Ltd has incorporated a wholly owned subsidiary, Mahindra Kandivali Developers Limited (MKDL), on June 29, 2026, in Mumbai, Maharashtra. The company received the Certificate of Incorporation at 10:35 a.m. on June 30, 2026. This strategic move follows the approval granted by the Committee for Investment/Land Appraisal on June 25, 2026, to establish two new subsidiaries to expand its operational footprint in the real estate sector.

The incorporation involved a cash consideration of ₹1,00,000. Mahindra Lifespace Developers subscribed to 10,000 equity shares with a face value of ₹10 each, aggregating to ₹1,00,000, representing 100% of the equity share capital of the new entity. MKDL currently has an authorised share capital of ₹5,00,000. The transaction is classified as a related party transaction, with Mahindra & Mahindra Limited holding an indirect equity interest in the subsidiary as the promoter of the parent company.

Key Details of the Incorporation

The subsidiary will undertake the development of projects as approved by its Board of Directors, aligning with the company's real estate and construction activities. The company stated that no specific governmental or regulatory approvals are currently required for the incorporation, though any necessary approvals will be obtained as applicable. MKDL is currently a newly incorporated entity with nil turnover. The intimation regarding this corporate action has been submitted to the stock exchanges under the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Mahindra Lifespace Developers Limited has filed its Business Responsibility and Sustainability Report (BRSR) for FY 2025-26 with the stock exchanges on June 30, 2026, in compliance with Regulation 34(2)(f) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The BRSR forms part of the Company's 5th Integrated Annual Report for the financial year from April 1, 2025 to March 31, 2026, and is available on the Company's website.

Financial Performance Highlights

FY 2025-26 marked a year of significant growth and consolidation for Mahindra Lifespace Developers, supported by strong operating and financial performance across both its residential and industrial segments. The following table summarises key consolidated financial metrics:

Revenue from operations grew by 216.5% to ₹ 1,178 Cr, while the Company maintained a net cash surplus position with a net debt-to-equity ratio of -0.27 as on 31 March 2026.

Residential Business

The residential segment delivered healthy growth, with pre-sales increasing 21.4% to ₹ 3,405 Cr from ₹ 2,804 Cr in the previous year, driven by project completions and successful launches. Mahindra Blossom set a new benchmark, achieving over ₹ 1,000 Cr in sales within three days of launch. The Company's development footprint covers 53.65 mn sq.ft. of completed, ongoing, and upcoming residential projects across seven cities.

Key launches during FY 2025-26 included Mahindra Blossom (Bengaluru), Mahindra Marina64 (Mumbai), and Mahindra NewHaven, all of which received IGBC green pre-certifications. Redevelopment in Mumbai has become a significant growth driver, with nine mandates secured within two years of entry. The Company also launched a Rights Issue of ₹ 1,500 Cr during the year to retire long-term debt and fund land acquisition, raising ₹ 1,494.80 Cr.

IC&IC Business

The Integrated Cities and Industrial Clusters (IC&IC) business witnessed a strong year with marquee transactions and healthy traction across Jaipur and Chennai. Consolidated revenues in the IC&IC segment increased to ₹ 713 Cr from ₹ 495 Cr in the previous year, aided by the leasing of 138.4 acres across industrial parks. Key transactions were concluded with global leaders such as Yoshida Kogyo Kabushikigaisha (YKK), NMB MinebeaMitsumi, and Mitsubishi Electric. The Company also unlocked an additional 100 acres in Origins by Mahindra, Chennai, achieving sales of 60 acres within three months.

Sustainability and ESG Performance

The Company maintained its 100% green-certified portfolio since 2014, with all new residential launches receiving IGBC Gold and above pre-certifications. During FY 2025-26, the Company received multiple project certifications including 2 IGBC Gold, 1 IGBC Platinum, 4 Net Zero Waste, and 3 IGBC Net Zero Energy ratings. Key ESG metrics are summarised below:

The Company also expanded the Decarbonisation Business Charter (DBC) signatory base by 28%, from 103 in FY25 to 132 by Q3 FY26, and received the GRESB Global and Regional Sector Leader Award under the Development Benchmark category, ranking 4th amongst 30 listed global peers.

Workforce and Governance

The Company's total permanent employee base stood at 764 as on 31 March 2026, with women comprising approximately 28% of full-time associates. Attrition moderated to 20.64% in FY26 from 21.52% in FY25. The Company's employee engagement score (MCARES Overall) improved to 4.46 in FY26 from 4.29 in FY23. Total CSR spend for FY 2025-26 across subsidiaries aggregated ₹ 524.14 Lakhs, benefiting over 1,00,000 beneficiaries.

The Board of Directors has recommended a final dividend of ₹ 3.50 per equity share of face value ₹ 10 each (35% on face value) for FY 2025-26, subject to shareholder approval at the 27th Annual General Meeting scheduled for July 23, 2026. The record date for dividend payment is July 3, 2026.