Mahindra Lifespace Developers Limited (MLDL), the real estate arm of the Mahindra Group, has made significant strides in expanding its portfolio with two major developments: a land acquisition in Pune and a redevelopment project in Mumbai.

Pune Land Acquisition

MLDL acquired 13.46 acres of land in Nande-Mahalunge, Pune. The acquisition involves a third-party seller with no related party transactions.

Chief Business Officer Vimalendra Singh highlighted that the Mahalunge-Nande-Maan area is one of Pune's most promising micro-markets, showing strong absorption in recent years. The site offers strategic connectivity through:

• The proposed PMRDA Town Planning Scheme
• Upcoming Inner Ring Road
• Proximity to Hinjewadi IT hub

The location also provides access to educational institutions including Delhi Public School, Mahindra International School, and Symbiosis Center for Management, and is equidistant from Baner-Balewadi and Hinjewadi micro markets.

Mumbai Redevelopment Project

In addition to the Pune acquisition, MLDL has been selected as the preferred partner for a significant redevelopment project in Mumbai's Malad area.

The project involves redeveloping four residential societies in Malad (West), a well-established suburban neighborhood in Mumbai. This new project is strategically located near MLDL's ongoing redevelopment project, Mahindra Codename64, strengthening the company's presence in this micro-market.

Strategic Significance

The Malad project's location offers excellent connectivity to key parts of Mumbai and is in close proximity to prominent business hubs such as Mindspace, Malad, and Bandra Kurla Complex (BKC). Residents will have easy access to:

• Multiple transport modes
• Reputed schools
• Leading healthcare facilities
• Retail destinations
• Business centers

The operational Malad Metro Station nearby is expected to enhance mobility and connectivity across Mumbai for future residents.

Management's Perspective

Mr. Vimalendra Singh, Chief Business Officer – Residential at Mahindra Lifespace Developers Ltd., commented on the Mumbai project: "This project further strengthens our presence in Mumbai's redevelopment market, reflecting the trust our brand has earned over the years with customers and communities. Our reputation for delivering thoughtfully designed, high-quality homes has made us a preferred choice for societies looking to redevelop."

Company Background

Mahindra Lifespace Developers Ltd., established in 1994, is known for its commitment to sustainability and innovation in real estate development. The company's portfolio includes:

• Premium residential projects
• Value homes under the 'Mahindra Happinest®' brand
• Integrated cities and industrial clusters under the 'Mahindra World City' and 'Origins by Mahindra' brands

MLDL has a significant presence across seven Indian cities with a development footprint of 49.26 million sq. ft. of completed, ongoing, and forthcoming residential projects. The company is also committed to building only Net Zero homes from 2030 onwards and aims to achieve carbon neutrality by 2040.

These new developments in Pune and Mumbai align with MLDL's strategy of deepening its presence in established micro-markets, enabling the company to leverage economies of scale and enhance project efficiencies.

Mahindra Lifespaces Developers -RE has announced a significant move to strengthen its position in the real estate sector. The company's board has approved the complete acquisition of Mahindra Homes Private Limited (MHPL) from Actis Mahi Holdings, subject to shareholder approval.

Key Highlights of the Acquisition

• Transaction Value: The acquisition cost will not exceed ₹90.00 crore.
• Ownership Change: MHPL will transition from a joint venture to a wholly-owned subsidiary of Mahindra Lifespaces Developers.
• Current Ownership Structure: Mahindra Lifespaces Developers currently holds 74.35% stake in MHPL, with Actis owning the remaining 25.65%.
• Shares to be Acquired:
  • 2,05,628 Series A Equity Shares
  • 11,043 Series B Equity Shares
  • 1 Compulsory Convertible Preference Share

About Mahindra Homes Private Limited

MHPL, incorporated on June 2, 2010, is a real estate company focused on residential project development. The company has:

• Completed the "Windchimes" residential project in Bengaluru, spanning approximately 5.90 acres.
• Currently developing the final phase of the 'Luminare – Phase 3' project in Gurgaon.

Financial Overview of MHPL

The turnover of MHPL over the past three fiscal years:

Transaction Details

• The acquisition is classified as a Related Party Transaction and will be conducted on an arm's length basis.
• No governmental or regulatory approvals are currently required for the acquisition.
• The transaction is expected to be completed within three months from the execution of the Share Purchase Agreement, subject to shareholder approval and fulfillment of agreed terms and conditions.

Strategic Implications

This acquisition aligns with Mahindra Lifespace's strategy to consolidate its position in the real estate market. By fully acquiring MHPL, Mahindra Lifespaces Developers aims to streamline operations and potentially enhance its project portfolio in key markets like Bengaluru and Gurgaon.

The move comes at a time when the real estate sector is showing signs of recovery, and companies are positioning themselves for growth opportunities in the residential segment.

Investors and stakeholders will be keenly watching how this acquisition impacts Mahindra Lifespace's future project pipeline and overall market presence in the coming quarters.