Mahindra Lifespace Developers has officially launched its premium mixed-use development project 'Mahindra Rainforest' through its wholly owned subsidiary Anthurium Developers Limited. The project represents one of the largest developments in Mumbai's central suburbs with significant scale and investment potential.

Project Launch Details

The residential phases 1 and 2 of Mahindra Rainforest were officially launched with an estimated Gross Development Value (GDV) of approximately ₹3,000 crore. Located strategically on LBS Marg, Kanjur, Mumbai, the development spans approximately 25.47 acres and is designed as an integrated lifestyle destination.

Development Features and Amenities

The project is designed to redefine urban living by seamlessly integrating residential, commercial, and retail components within a single development. The residential township emphasizes green spaces, community living, and sustainable design, reflecting Mahindra Lifespaces' philosophy of building Homes of Positive Energy with climate-responsive planning.

The development offers over 3.50 lakh sq. ft. of open amenities and clubhouse spaces, making it among the largest in Mumbai. Key amenities include an expansive clubhouse, fitness zones, jogging tracks, yoga and meditation areas, a library, children's play zones, and thoughtfully designed community spaces. The project features over 7 acres of open dense green spaces.

Strategic Location and Connectivity

Situated on LBS Marg, Kanjur, the project offers strong connectivity to the Eastern Express Highway and the Jogeshwari–Vikhroli Link Road (JVLR). Future infrastructure developments include the upcoming Goregaon–Mulund Link Road (GMLR) and an east–west connecting flyover in Bhandup.

Management Commentary

Vimalendra Singh, Chief Business Officer – Residential, Mahindra Lifespace Developers Ltd., commented on the launch: "Mumbai continues to be a strategic focus market for Mahindra Lifespaces, and the central suburbs are an important residential corridor driven by strong connectivity and established social infrastructure. With Mahindra Rainforest, we are bringing our philosophy of 'Homes of Positive Energy' to life through a landmark mixed-use development."

Regulatory Compliance and Corporate Structure

The project has received all necessary regulatory approvals from the Maharashtra Real Estate Regulatory Authority (RERA). The current phases have been registered under RERA registration numbers PM1181012502957 and PR1181012502956. The project is being developed by Anthurium Developers Limited, which operates as a wholly owned subsidiary of Mahindra Lifespace Developers Limited, allowing focused project management through specialized subsidiaries.

Mahindra Lifespace Developers Limited has formally announced the resignation of Ms. Asha Kharga as Non-Executive Non-Independent Director, effective from the conclusion of the Board Meeting held on March 13, 2026. The resignation was communicated to BSE Limited and National Stock Exchange of India Limited in compliance with SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Board Meeting and Regulatory Compliance

The Board of Directors convened on March 13, 2026, to consider and note the resignation of Ms. Asha Kharga (DIN: 08473580). The announcement was made pursuant to Regulation 30(6) read with Schedule III and other applicable provisions of the SEBI Listing Regulations, along with SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/II/3762/2026 dated January 30, 2026.

Stock Exchange Communication

The company communicated the resignation to both major stock exchanges where its equity shares are listed. The formal intimation included detailed regulatory disclosures as required under SEBI guidelines.

Resignation Details and Timeline

Ms. Kharga submitted her resignation letter on March 4, 2026, citing her transition into a new role within the Mahindra Group as the reason for stepping down. In her resignation letter, she expressed that serving on the Board had been a privilege and acknowledged the thoughtful engagement and collaboration with Board members and the leadership team.

Company Secretary Confirmation

The regulatory intimation was signed by Bijal Parmar, Company Secretary & Compliance Officer, with digital signature authentication completed on March 13, 2026, at 18:48:07 +05'30'. The disclosure has been made available on the company's website under the investor center section for material disclosure intimations, ensuring transparency and accessibility for stakeholders.

Ms. Kharga concluded her resignation by extending best wishes to the Board and the entire team for continued success, formally requesting acknowledgment of receipt and necessary steps to implement her resignation.