Mahindra Group appoints Amit Sinha as CEO of Holidays and Lifespaces sector

Mahindra Group on Monday announced the appointment of Amit Kumar Sinha, currently Managing Director and CEO of Mahindra Lifespace Developers Ltd (MLDL), as CEO-Holidays and Lifespaces Sector of Mahindra Group.

Sinha will take up the new role once a new CEO is appointed at Mahindra Lifespaces, the group said in a regulatory filing.

The appointment comes as the Mahindra Group announced a dedicated strategic focus on its Holidays and Lifespaces businesses to accelerate growth and realise operational synergies between the two sectors.

"The leadership and reporting arrangements for the relevant businesses will be aligned as part of the implementation of the new sector structure," it said.

Mahindra Group CEO and Managing Director Anish Shah said both the Holidays and Lifespaces businesses have "tremendous potential" and the group has been evaluating ways to harness synergies between them to strengthen their growth trajectory.

Mahindra Lifespaces has emerged as one of the group's "Growth Gems", with residential pre-sales rising five-fold from around ₹700 crore in FY20 to around ₹3,500 crore.

In the last three years, the real estate business has grown its gross development value (GDV) from ₹8,000 crore to ₹50,000 crore, the group said, adding that it has moved from losses to a profit of around ₹300 crore in the previous financial year.

Its industrial segment has also delivered strong performance during the period.

Mahindra Holidays, meanwhile, has more than 3 lakh vacation ownership members and has added over 1,700 rooms.

“We are pleased to announce a dedicated strategic focus on Holidays and Lifespaces sectors aimed at accelerating growth and realising operational synergies across these identified Growth Gems,” Shah said.

The hospitality business is expanding beyond vacation ownership into leisure hospitality, with an ambition to become a leading hospitality player in India. It recently launched Mahindra Signature Resorts as its entry into luxury hospitality.