Mahindra Lifespaces Developers -RE , a prominent real estate development company, has announced the appointment of Ms. Parijat Dey as its new Chief Technology Officer (CTO), effective September 1, 2025. This strategic move, approved by the company's Board of Directors on August 28, 2025, aims to bolster the company's technological capabilities and drive digital transformation initiatives.

A Seasoned Technology Leader

Ms. Dey brings over 18 years of extensive experience in digital transformation and enterprise technology across global organizations, including Fortune 500 companies. Her impressive career trajectory and expertise in cutting-edge technologies make her a valuable addition to Mahindra Lifespace's leadership team.

Educational Background and Career Highlights

• B.E. in Electrical Engineering from NIT Jamshedpur
• MBA in Marketing from ISB Hyderabad
• Started her career at Infosys Technologies
• Held key leadership roles at Viacom18 Media Pvt. Ltd.
  • Led enterprise technology and data engineering initiatives
  • Implemented 25+ enterprise applications
  • Developed a Big Data platform on Microsoft Azure, recognized in a Databricks case study

Recent Accomplishments

Since December 2020, Ms. Dey has been associated with PwC Acceleration Center India, where she currently serves as Director – Head of AI, Technology, and Innovation. In this role, she has:

• Led strategic AI initiatives across seven global locations
• Driven projects in generative AI, Metaverse, and low-code/no-code platforms

Appointment Details

The appointment of Ms. Parijat Dey as CTO was approved by Mahindra Lifespace Developers' Board of Directors on August 28, 2025, based on the recommendation of the Nomination and Remuneration Committee. The decision was made through a circulation resolution at 11:08 am (IST).

Company's Perspective

By bringing Ms. Dey on board, Mahindra Lifespace Developers demonstrates its commitment to leveraging technology for growth and innovation in the real estate sector. Her extensive experience in digital transformation and AI is expected to play a crucial role in enhancing the company's technological capabilities and driving future initiatives.

This appointment aligns with the growing trend of real estate companies investing in technology leadership to stay competitive in an increasingly digital marketplace. Ms. Dey's diverse experience across various industries is likely to bring fresh perspectives and innovative strategies to Mahindra Lifespace Developers' operations.

Mahindra Lifespaces Developers -RE , through its material subsidiary Mahindra World City Developers Limited (MWCDL), has executed a significant land lease agreement with Ashiana Housing Limited. The deal, part of Mahindra's residential business scale-up strategy, involves a 22.71-acre plot located in Paranur Village, Chengalpattu District, Tamil Nadu.

Lease Agreement Details

Strategic Implications

This lease agreement marks an important step in Mahindra Lifespaces Developers' residential business expansion plans. By leasing a substantial plot of land to Ashiana Housing Limited, MWCDL is leveraging its land assets to potentially drive growth in the residential real estate sector.

Regulatory Compliance

The transaction was promptly disclosed to the stock exchanges in compliance with the Securities and Exchange Board of India (SEBI) Listing Obligations and Disclosure Requirements Regulations, 2015. Mahindra Lifespaces Developers filed the intimation under Regulation 30 of these listing regulations, demonstrating their commitment to transparent communication with investors and regulatory bodies.

Market Impact

While the financial terms of the lease agreement were not disclosed, this development could be of interest to investors and market analysts tracking the real estate sector. The collaboration between Mahindra World City Developers and Ashiana Housing may lead to new residential projects in the Chengalpattu District, potentially impacting the local real estate market.

Investors and stakeholders of Mahindra Lifespaces Developers will likely monitor how this strategic move contributes to the company's growth trajectory and financial performance in the coming quarters.