Mahindra Lifespaces Board Approves to Raise Up to ₹1,500 Crore Through Rights Issue

Mahindra Lifespace Developers Ltd., a prominent Indian real estate and infrastructure development firm headquartered in Mumbai, is a subsidiary of the esteemed Mahindra Group. Established in 1994, the company continues to expand its footprint in the property development sector.

Raising ₹1,500 Crore 

On February 13, Mahindra Lifespace Developers Ltd. apprised the stock exchanges of its decision to raise up to ₹1,500 crore via a rights issue. The company stated in a regulatory filing that it will soon finalise the record date for the offering.

“The Board has empowered the Rights Issue Committee to proceed with the issuance forthwith, including but not limited to determining the issue price, rights entitlement ratio, record date, timing, terms of payment, and appointment of intermediaries, along with various other related matters,” the company announced.

Mahindra Lifespace Strategic Expansion

In a strategic expansion move, Mahindra Lifespace has secured an 8.2-acre land parcel in North Bengaluru through its subsidiary, Anthurium Developers Ltd. The acquired site boasts a developable potential of approximately 0.9 million square feet and is projected to yield a Gross Development Value (GDV) of nearly ₹1,000 crore.

Ideally situated off the Bangalore-Hyderabad highway, the location enjoys seamless connectivity to the international airport, prominent IT hubs, and key social infrastructure. Merely 1.8 kilometres from the upcoming Doddajala metro station, the site is poised to attract discerning urban homebuyers. 

The development will predominantly feature mid-premium residential apartments, marking Mahindra Lifespace’s seventh foray into the Bengaluru real estate market.

Mahindra Lifespace Q3 FY25 Results

Despite reporting a consolidated net loss of ₹22.47 crore for Q3 FY25—contrasted against a profit of ₹50.02 crore in the corresponding quarter of the previous year—the company showcased robust revenue growth. Its consolidated total income more than doubled to ₹185.77 crore in Q3 FY25 from ₹88.77 crore in Q3 FY24.

This surge in income was driven by Mahindra Lifespace’s highest-ever GDV additions during the quarter, fortifying a strong trajectory for future expansion. However, pre-sales during the period were primarily led by sustenance activities and lagged behind the momentum observed in the previous year.

Share Price Performance 

At 3:31 PM on February 14, 2025, Mahindra Lifespace Developers Ltd shares traded at ₹359.55 per share on the NSE.

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