Mahindra Lifespace Developers has announced a dividend of ₹3.50 per equity share of ₹10 each for the financial year ended March 31, 2026. The payment is scheduled after July 23, 2026, subject to shareholder approval at the Annual General Meeting (AGM) on the same date. To ensure compliance with the Income Tax Act, 2025, the company will deduct Tax Deduction at Source (TDS) on the dividend distribution, requiring shareholders to update their details and submit specific forms by June 26, 2026.

The Board of Directors recommended the dividend at its meeting on April 28, 2026. Under the tax regulations, dividends are taxable in the hands of shareholders, and the company is obligated to deduct TDS at applicable rates. The Register of Members will close from July 4, 2026, to July 23, 2026, to determine dividend entitlement.

TDS Rates and Documentation Requirements

The applicable TDS rate varies based on the shareholder's category and the validity of their Permanent Account Number (PAN). Shareholders with a valid PAN will face a 10% deduction, while those without a valid PAN or an unlinked Aadhaar will be subject to a 20% TDS under Section 397(2) of the Act.

Resident individuals are exempt from TDS if the total dividend does not exceed ₹10,000 or if they submit Form 121. Resident non-individuals, such as insurance companies and mutual funds, must provide a self-declaration regarding their category and beneficial ownership along with proof of registration.

Compliance for Non-Resident Shareholders

Non-resident shareholders can opt for beneficial tax rates under Double Tax Avoidance Agreements (DTAA) by submitting a Tax Residency Certificate (TRC) for Tax Year 2026-27, a self-attested PAN copy, and electronically filed Form 41. The company clarified that it is not obligated to apply DTAA rates if the documentation is incomplete or unsatisfactory.

Shareholders must submit all relevant tax-related documents, including declarations and exemption forms, by June 26, 2026. Submissions received after this date will not be considered, and any higher tax deducted due to missing information will not be refundable by the company, though shareholders may claim a refund while filing income tax returns.

Mahindra Lifespace Developers has acquired a 15-acre land parcel in Kandivali East, Mumbai, marking a notable expansion of its real estate development footprint in one of the city's prominent residential corridors. The project has an estimated Gross Development Value (GDV) of approximately ₹5,600 crore and a development potential of around 1.8 million square feet. The acquisition underscores the company's continued focus on strengthening its presence in key urban markets through competitive bidding processes.

Project Overview

The newly acquired land in Kandivali East is set to anchor a large-scale residential development. The key parameters of the project are outlined below:

Strategic Significance

The project's estimated Gross Development Value of ₹5,600 crore and an expected development size of 1.8 million sq. ft. highlight the scale and ambition of this undertaking. Kandivali East is a well-established residential and commercial hub in Mumbai's western suburbs, making the land parcel a strategically valuable asset for Mahindra Lifespace Developers. This acquisition is expected to contribute meaningfully to the company's overall development pipeline.

Strategically located in Kandivali East, the open greenfield land parcel benefits from excellent connectivity to the Western Express Highway and existing metro corridors. The location is supported by established social infrastructure, including schools, hospitals, and retail hubs, and continues to witness strong residential absorption driven by end-user demand. The project's accessibility is expected to be further enhanced by the upcoming Borivali–Thane Twin Tunnel, a landmark infrastructure initiative that is set to significantly reduce travel time between Mumbai's western suburbs and Thane.