Mahindra Lifespace Developers (Mahindra Lifespaces), the real estate and infrastructure arm of the Mahindra Group, has collaborated with Livingstone Infra for a cluster redevelopment project in Mumbai’s Mahalaxmi. The project has a gross development value (GDV) of Rs 16.50 billion and marks Mahindra Lifespaces’ expansion into South Mumbai’s premium real estate segment. The redevelopment initiative focuses on modern design, sustainability, and high-end amenities, contributing to the city’s urban transformation. Mahalaxmi has witnessed a significant rise in property prices, with the current rate averaging Rs 59,192 per square foot. Over the past year, prices in the area have increased by 12.32 per cent, the highest appreciation among prime Mumbai locations, including Mumbai Central and Lower Parel. Mahindra Lifespaces was recently appointed as the developer for another redevelopment project in Lokhandwala Complex, Andheri West, Mumbai. This project has a GDV of approximately Rs 9.50 billion. In January 2025, through its subsidiary Anthurium Developers (ADL), the company acquired 8.2 acres of land in North Bengaluru, with an estimated GDV of Rs 10 billion. Financially, the company reported a net loss of Rs 220.5 million for Q3 FY25, widening from a loss of Rs 140 million in Q2 FY25 and a profit of Rs 500 million in Q3 FY24. Pre-sales for the quarter reached Rs 3.34 billion, reflecting a year-on-year decline of 24.61 per cent. Mahindra Lifespaces’ development portfolio spans 39.44 million square feet of saleable area across seven Indian cities, including completed, ongoing, and upcoming residential projects. Additionally, its integrated developments and industrial clusters cover over 5,000 acres across four cities, contributing to the company’s expansion in urban and industrial real estate. News source: Business Standard