Mahindra Lifespace Developers Limited has announced that its Board of Directors, at a meeting held on February 9, 2026, has approved the transfer of the Alembic Undertaking to its subsidiary and formalized the joint venture arrangement with Mitsui Fudosan (Asia) Pte. Limited for the development of Mahindra Blossom, a premium residential project in Whitefield, Bengaluru.

Board Resolutions and Corporate Restructuring

The Board, based on recommendations from the Audit Committee and subject to shareholder approval, has approved several key resolutions for the strategic partnership. The company will transfer the Alembic Undertaking, including all relevant assets and liabilities, as a going concern on a slump sale basis to Mahindra Blossom Developers Limited (MBLDSL), its wholly-owned subsidiary.

Joint Venture Structure and Shareholding

Under the approved arrangement, Mitsui Fudosan (Asia) Pte. Limited will acquire a 49% equity stake in MBLDSL, while Mahindra Lifespaces will retain 51% control. The partnership involves execution of Shareholders Agreement, Investment Agreement, and other related documents to govern the joint venture arrangement.

Project Overview and Development Framework

Mahindra Blossom is positioned as Bengaluru's fourth net zero waste residential development, comprising approximately 730 homes strategically located near Hopefarm Channasandra Metro Station on the Namma Metro Purple Line. The project will feature comprehensive lifestyle amenities including a half-Olympic size swimming pool, gym, badminton courts, jogging tracks, pet park, and curated community spaces spanning 97,000 sq. ft. of amenities area with nearly 4 acres of green spaces.

Regulatory Compliance and Approvals

The transaction is subject to necessary regulatory approvals and satisfaction of customary conditions precedent. The company has intimated BSE Limited and National Stock Exchange of India Limited under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. The transfer requires shareholder approval under various regulations including Regulation 37A and Regulation 23 of SEBI Listing Regulations.

The strategic partnership marks Mitsui Fudosan Group's entry into India's residential sector, leveraging their global benchmarks in design, sustainability, and customer experience. The project incorporates climate-responsive design principles, energy-efficient planning, and construction practices focused on on-site waste segregation and recycling, aligning with Mahindra Lifespaces' commitment to developing environmentally responsible residential communities.

Mahindra Lifespace Developers Limited has reported strong financial performance for the third quarter and nine months ended December 31, 2025, showcasing a significant turnaround in profitability and operational efficiency. The company held its earnings conference call on February 2, 2026, providing detailed insights into its business performance and strategic outlook.

Quarterly Performance Highlights

The company demonstrated exceptional recovery in Q3 FY26 with substantial improvements across key financial metrics. The consolidated results reflect strong business momentum and effective strategic execution.

Nine-Month Performance Analysis

For the nine months ended December 31, 2025, the company maintained positive momentum with consolidated net profit of ₹208.05 crores and total income of ₹542.75 crores. The nine-month basic earnings per share stood at ₹10.37 compared to negative earnings in the previous period.

Business Operations and Market Performance

During the earnings call, MD and CEO Amit Sinha highlighted the company's strong operational performance. The residential business reported pre-sales of ₹572 crores for Q3 FY26, with nine-month pre-sales reaching ₹1773 crores. The company successfully launched several projects including New Haven in Bangalore, Marina 64 in Mumbai, Citadel in Pune, and Lakewood's in Chennai.

A significant highlight was the successful launch of Mahindra Blossom in Bangalore, which achieved over ₹1000 crores in sales during its launch weekend, demonstrating strong market demand for the company's premium offerings.

Joint Ventures and Associates Contribution

A significant contributor to the company's performance was the share of profit from joint ventures and associates, which amounted to ₹71.34 crores in Q3 FY26, substantially higher than ₹9.96 crores in Q3 FY25. For the nine-month period, this contribution reached ₹265.43 crores, highlighting the strength of the company's strategic partnerships.

Standalone Financial Performance

The standalone financial results also showed robust performance with key metrics demonstrating consistent growth:

Industrial Business Growth and Future Outlook

CFO Sriram Kumar emphasized the strong performance of the industrial business, with the company unlocking Origins 2A in December 2025. The industrial segment showed robust leasing activity across Jaipur and Chennai locations, with management expressing confidence about continued growth momentum.

Capital Structure and Strategic Positioning

The company's paid-up equity share capital stood at ₹213.31 crores with a face value of ₹10 per share. The balance sheet remains healthy with a negative net debt to equity ratio of 0.12 and cost of debt at 6.7%. Management outlined their vision to achieve ₹10,000 crores in annual pre-sales, with ₹47,000 crores of Gross Development Value (GDV) currently under execution.

The comprehensive financial results and management commentary demonstrate Mahindra Lifespace Developers' strong operational performance and strategic positioning in the real estate development sector, marking a significant improvement from the previous year's performance.