Mahindra Lifespaces Eyes Rs 45000 crore Business

Torbit - March 17, 2024 - - 0 |

Mumbai-based leading real estate and infrastructure development company, Mahindra Lifespaces is looking to build a pipeline of projects with a development value of more than Rs 45000 crore. This is aimed at achieving five fold growth in pre-sales over the next five years. The targeted pipeline is 10 times its current project pipeline of Rs 4000-5000 crore.

Going forward, the company will focus on Mumbai, Pune and Bangalore markets and take joint development routes, besides redevelopment of housing societies and outright purchase of land to augment gross development value. The company will deploy over Rs 7500 crore to be raised through internal accruals and institutional investors. Half of the capital will be generated through the company’s own resources. The company is also open to raising debt and inducting a financial partner.

In FY 23, Mahindra Lifespaces clocked pre-sales of Rs 1812 crore . In the first three quarters of FY 24, the company has touched Rs 1243 crore of pre-sales. This financial year, the company is targeting most of its growth from residential businesses.

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