Mahindra Lifespace shares surge nearly 7% on Mumbai redevelopment projects; check details

Mahindra Lifespace stock was trading 3.97% higher at ₹383.70 per equity share, as of 11:20 am.

This follows the company's selection as the partner for the redevelopment projects of two housing societies in Chembur, Mumbai, with an estimated combined gross development potential of approximately ₹1,700 crore, it said in a regulatory filing dated Tuesday.

The redevelopment of the societies located in Chembur’s Diamond Garden area will deliver well-planned homes with a focus on sustainability, modern amenities, and connectivity.

“It will offer residents an enhanced living experience while creating long-term value through thoughtful design and environmentally responsible practices,” the realtor said.

Both projects, spanning about 2.6 acres and 1.8 acres, are situated just 1.5 kilometres from the Eastern Freeway, offering direct access to Thane, Navi Mumbai, and other key parts of Mumbai. Recent approvals that allow higher redevelopment potential are expected to enhance long-term value creation in the neighbourhood.

Furthermore, its connectivity will be further strengthened by the Diamond Garden Metro Station on Line 2, along with nearby Monorail and Railway links. Its proximity to business hubs such as BKC and Powai makes the location highly accessible and well-positioned for the future.

Commenting on the development, Vimalendra Singh, Chief Business Officer – Residential, Mahindra Lifespace Developers, said: “Redevelopment continues to play an important role in our growth journey. It enables us to bring high-quality residential projects to neighbourhoods where demand remains strong. We are grateful for the trust the societies have placed in us, and through this project, we look forward to contributing to the growth story of Chembur.”

In August, the real estate and infrastructure development arm of the Mahindra Group undertook the launch of new premium residential towers, “Lakewoods – Towers H & I”, at Mahindra World City Chennai (MWC Chennai). The project was registered with the Tamil Nadu Real Estate Regulatory Authority (RERA), Mahindra Lifespaces had said.

The stock has been in focus, as it surged 3.08% over the week, 11.28% over a month and 27.45% over the span of six months. However, on a year-to-date basis, it declined 9.26%.

While the scrip reached a year’s low of ₹255.69 on April 7, 2025, it touched a 52-week high of ₹531.19 per equity share almost a year ago on September 25, 2024.

Mahindra Lifespace Developers has a total market capitalisation of ₹8,173.89 crore, as of September 16, 2025, according to data on the NSE.