Realty co Mahindra Lifespace eyes Rs 2,050 cr revenue from 2 new projects

Realty firm Mahindra Lifespace Developers Ltd on Thursday said it has acquired land in Bengaluru and bagged a redevelopment project in Mumbai with a combined revenue potential of Rs 2,050 crore.

In a regulatory filing, the company informed about the "closure of two deals aggregating to Rs 2,050 crore in Gross Development Value (GDV)".

These strategic moves include securing a third redevelopment project in Mumbai and acquiring a prime land parcel in Bengaluru, it added.

Mahindra Lifespaces has been chosen as the preferred partner for the redevelopment of seven residential societies in the prestigious Borivali West, Mumbai neighbourhood.

The company has recently acquired 2.37 acres of land in Singasandra, South Bengaluru. The land is estimated to have a developable potential of approximately 0.25 million square feet, with a Gross Development Value of around Rs 250 crore.

Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd, said, "These strategic moves in ...