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Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has announced plans to invest approximately INR 6,000 crore in its residential business over the next four years. The objective is to drive business growth, aiming for a fivefold increase from INR 2,268 crore to INR 8,000 crore in residential business by the financial year 2028. During this timeframe, the company plans to introduce a pipeline of projects with a gross development value (GDV) totaling INR 45,000 crore.
Vimalendra Singh, Chief Business Officer (Residential), West, Mahindra Lifespace Developers, expressed optimism about the current year's performance, particularly in the targeted cities of Mumbai, Pune, and Bengaluru. Emphasising the strategic focus on these cities, Singh highlighted the company's goal of achieving a GDV of around INR 45,000 crore over the next few years, with a specific target of INR 8,000 to 10,000 crore by FY28.
Singh outlined the company's investment strategy, indicating plans to allocate approximately INR 6,000 crore over the next four years. This investment will primarily support the expansion into micro markets, including the launch of new projects and additional phases of existing projects. Singh also mentioned the company's intent to explore joint development opportunities, facilitating capital optimization and enabling the utilisation of larger land parcels.
In addition to new developments, Mahindra Lifespace Developers is eyeing housing society redevelopments and outright land parcel acquisitions to strengthen its GDV in Mumbai, Pune, and Bengaluru. Noteworthy is the recent launch of the company's second plotted development, Green Estates, at Mahindra World City in Chennai, following the successful sell-out of Lakefront Estates within a year. With a focus on joint developments, housing society redevelopments, and strategic land acquisitions, Mahindra Lifespace Developers aims to enhance its GDV in key markets, aligning with its long-term growth objectives.
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