Mahindra Lifespace Developers Ltd has acquired a 9-acre land parcel in Bengaluru for approximately Rs 199 crore, aiming to develop a premium residential project with an estimated revenue potential of Rs 1,100 crore.
The company made this strategic move by acquiring Shreyas Stones Pvt Ltd (SSPL), which owns the 8.79-acre land at Navaratna Agrahara Village in North Bengaluru. According to an official statement, Mahindra Lifespace signed a Share Purchase Agreement with SSPL, where all shareholders agreed to sell their entire stake. The acquisition involves purchasing 10,000 equity shares of face value Rs 10 each for a total consideration of Rs 199 crore.
Commenting on the acquisition, Amit Kumar Sinha, Managing Director and CEO of Mahindra Lifespace Developers Ltd, said, “This acquisition marks a key milestone in strengthening our presence in North Bengaluru, one of the city’s most promising real estate corridors.” He added that the newly acquired land is adjacent to an existing Mahindra Lifespace project, creating a combined opportunity with a Gross Development Value of approximately Rs 2,100 crore.
This deal is part of the company’s broader expansion strategy amid growing demand for residential properties. Mahindra Lifespace has been actively acquiring land to scale up its business across major Indian cities.
Currently, the company’s residential development footprint spans 47.56 million square feet, including completed, ongoing, and upcoming projects in seven Indian cities. It also manages over 5,000 acres of integrated and industrial developments across four locations in India.
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