Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, today announced a partnership with State Bank of India (SBI) for the establishment of a market-focused platform that will provide information and bespoke home buying solutions for customers across India. 

As part of the Memorandum of Understanding (MoU) signed, the two companies will collaborate to provide exclusive home ownership solutions for customers serviced by each other.

Anita Arjundas, Managing Director, Mahindra Lifespace Developers, said, ''Both Mahindra Lifespaces and State Bank of India (Q,N,C,F)* invoke a strong association with trust and transparency among home buyers across India.  Our tie-up with State Bank of India will bolster our ongoing efforts to ease the home buying process for our customers, and is closely aligned to SBI’s mission to create products and services that will help intending home buyers achieve their goals.''

M.G. Vaijinath, Chief General Manager (Real Estate & Housing Business), State Bank of India, added, ''SBI & Mahindra Life Spaces have come together to give a unique platform to harness the synergies of two well-known brands. This MoU will provide a structured platform for information sharing, promotional campaigns and project specific tie-ups, which will help in creating higher value for customers.''

Shares of the company gained Rs 7.65, or 2.17%, to trade at Rs 360.00. The total volume of shares traded was 6,292 at the BSE (10.33 a.m., Wednesday).