Mahindra Lifespace Developers Ltd.MAHLIFE₹382.90 +3.65%

Mahindra Lifespace Developers Ltd. announced that it has been selected to redevelop two housing societies in Chembur, Mumbai. The projects, with a combined gross development potential of approximately ₹1,700 crore, mark a significant win for the company’s redevelopment portfolio.

Post the announcement, shares of Mahindra Lifespace Developers surged up to 7%, reaching an intraday high of ₹393.80 apiece.

The two projects are located in the Diamond Garden area of Chembur and span a combined area of approximately 4.4 acres. The company plans to transform these societies into well-planned homes with a focus on sustainability, modern amenities, and enhanced connectivity. The strategic location of the projects, close to the Eastern Freeway, upcoming metro lines, and business hubs like BKC, makes them highly attractive.

Vimalendra Singh, Chief Business Officer – Residential at Mahindra Lifespaces, highlighted the importance of these projects, stating that redevelopment is a key part of the company’s growth strategy. He expressed gratitude for the trust placed in the company by the housing societies and noted that the project will contribute to the growth story of Chembur.

The announcement comes as Chembur is poised for further development due to recent policies that permit higher redevelopment potential. This is expected to create long-term value for the company and its stakeholders. The new projects will expand Mahindra Lifespaces’ presence in Mumbai’s residential market, aligning with its commitment to creating quality living spaces and driving sustainable urban growth.

Over the last five years, this stock has given multibagger returns of more than 390%.

Let’s take a look at its Factor Analysis scores: 

Note: The stock prices mentioned are as of 3:30 pm.

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CIN: U65990KA2021PTC146954.