Mahindra Lifespaces Expands Industrial Parks in Tamil Nadu

On November 22, 2024, Mahindra Lifespace Developers Ltd, the real estate and infrastructure development arm of the Mahindra Group, announced the second phase of its industrial parks project in Tamil Nadu. The project, branded as “Origins by Mahindra”, is a joint venture with Japan’s Sumitomo Corporation through its subsidiary Mahindra World City Developers Limited (MWCDL). This development is expected to boost industrial growth in the region significantly.

Building on their 2015 joint venture agreement, Mahindra and Sumitomo Corporation have signed a supplemental agreement for the expansion. Based on their existing shareholding structure, they will collectively invest ₹225 crore into Mahindra Industrial Park Chennai Limited (MIPCL). This phase focuses on acquiring land and building advanced infrastructure to create a modern industrial ecosystem.

About Mahindra Lifespace Developers Ltd

Founded in 1994, Mahindra Lifespace Developers Ltd is a leading player in India’s real estate and infrastructure industry. It promotes sustainable residential communities and industrial ecosystems under brands like Mahindra World City and Origins by Mahindra. The company has completed, ongoing, and planned residential projects covering 38.49 million sq. ft. across 7 Indian cities. It manages integrated developments and industrial clusters spanning over 5000 acres in 4 key locations. Its portfolio includes premium homes, affordable housing under the Mahindra Happinest® brand, and industrial clusters under Mahindra World City and Origins by Mahindra.

About the Mahindra Group

Established in 1945, the Mahindra Group is a global federation of companies operating in over 100 countries with 260,000 employees. It holds leadership positions in farm equipment, utility vehicles, IT services, and financial services in India and is the world’s largest tractor manufacturer by volume. The Mahindra Group is committed to enabling rural prosperity, enhancing urban living, and leading environmental, social, and governance (ESG) efforts globally. With its focus on innovation and sustainability, the group aims to drive meaningful change for communities and stakeholders under its vision of “Rise.”

Mahindra Lifespace Developers share price is currently priced at ₹483.00, showing an increase of ₹21.75, or 4.72%, as of 11:20 AM on November 25, 2024. The stock opened at ₹473.80 and has reached a high of ₹487.40, with a low of ₹468.50 during the day’s trading session.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.