Mahindra Lifespace Developers saw its stock jump 4% after announcing a strategic partnership with Livingstone Infra Pvt Ltd for a major redevelopment project in Mumbai. The cluster redevelopment in Mahalaxmi is expected to generate a gross development value (GDV) of ₹1,650 crore. As of 9:39 AM, the shares were trading 4.30% higher at Rs 361.50.
In a regulatory filing on Tuesday, Mahindra Lifespace confirmed the deal, reinforcing its position in Mumbai’s booming real estate sector. The company boasts a development footprint of 394.4 lakh sq ft across seven Indian cities, with over 5,000 acres of ongoing and upcoming projects in four cities.
This latest partnership aligns with Mahindra Lifespace’s growth strategy, leveraging Mumbai’s premium real estate market. Investors responded positively, pushing the stock higher.
Mahindra Lifespace shares opened at ₹348.95, reaching a high of ₹361.00 and a low of ₹342.05. The stock’s 52-week high stands at ₹678.80, while the 52-week low matches today’s low of ₹342.05.
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