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Mahindra Lifespace Developers Limited
Sector:Real Estate Real Estate - Real Estate
BSE:532313NSE:MAHLIFEBloomberg:MLIFE@INReuters:MGDL.BO
Market Lot: 1Face Value: 10ISIN Demat: INE813A01018
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08-Feb-2019
Business Profile
Mahindra Lifespace Developers (MAHINLIFE), a Mahindra Group company, is engaged in real estate development and construction. It was formed in December 2001 when GESCO Corporation and Mahindra Realty & Infrastructure Developers combined operations. Earlier known as Mahindra Gesco Development, it got its present name with effect from Nov. 29, 2007.

The ISO 9001:2000 certified company has developed 2.6 million sq. ft. of residential property over the past decade, establishing itself as a premium brand. It has undertaken residential projects like Mahindra Heights, G.E. Gardens, Mahindra Park, Mahindra Gardens, and many more. Commercial projects include G.E. Galleria, G.E. Plaza in Pune and Delhi, and G.E. Centre in Delhi. It has undertaken large commercial and residential projects for various top corporate entities like Intel, Microsoft, and Motorola in Mumbai, Pune and Delhi. Four of its projects, namely Mahindra Eminente and Mahindra Splendour in Mumbai, Mahindra Royale in Pune, and Mahindra Chloris in Faridabad are registered for the prestigious LEED certification for Green Buildings.

Recent awards include the Award of Excellence in the category of planning, research, and communications by the St. Louis Chapter of ASLA in 2007 and Award of Excellence in the category of planning by the Central States Conference of ASLA in 2008. The company has executed India`s first SEZ based on the public private partnership (PPP) model with 94% of the industrial land committed for leasing at its Chennai project. A joint venture is in place with Knight Frank of UK, international property consultants and property management providers, and with Semb Corp of Singapore, a leading international construction company dealing with infrastructure and project management in the Far East.

Mahindra Residential Developers, a subsidiary company, signed an agreement early 2008 with ARCH Capital Asian Partners, an affiliate of Ayala Land and Ayala Corporation, to undertake the development of a gated residential community in approximately 55 acres within the company`s pioneering special economic zone at Mahindra World City, New Chennai. An agreement was signed in Colombo between the Board of Investments of Sri Lanka and Mahindra Lifespaces Developers for developing a special economic zone (SEZ) at Katunayeke in Sri Lanka. In consortium with B.E. Billimoria & Co., a residential project over is to be developed over 25 acres of land at multi-modal internal hub airport (MIHAN) at Nagpur.

The registered office of the company is located at 5th Floor, Mahindra Towers, Worli, Mumbai-400018.


Financials
The company disclosed fall of 0.00% in consolidated net profit on y-o-y basis to Rs 271.40 million, while total income dropped 0.00% y-o-y basis to Rs 1.86 billion for the quarter ended December 2017.

Recent Developments
08-FEB-19
Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the USD 20.7 billion Mahindra Group, today announced that as part of its pursuit to acquire

04-JAN-19
Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the USD 20.7 billion Mahindra Group, announced that

27-APR-18
Mahindra Lifespace Developers disclosed a sharp rise in consolidated net profit for the quarter ended March 2017. During the quarter, the profit of the company rose 2.45 times to Rs 477.30 million from Rs 194.60 million in the same quarter previous year.

23-OCT-17
Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has partnered with HDFC Capital Affordable Real Estate Fund-1 (HDFC Capital) a fund

19-SEP-17
Mahindra Lifespace Developers (MLDL) has entered into partnership with International Finance Corporation (IFC), a member of the World Bank Group, for the development of multiple industrial parks across Gujarat, Rajasthan and Maharashtra.

08-FEB-17
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.

12-JAN-17
Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development arm of the USD 17.8 billion Mahindra Group, today announced that it has signed an MoU with the

26-APR-16
Mahindra Lifespace Developers announced a sharp rise in consolidated net profit for the quarter ended March 2016. During the quarter, the profit of the company rose 58.82% to Rs 486.30 million from Rs 306.20 million in the same quarter previous year.



Future Plans
The company plans to invest in two new subsidiaries, viz. Mahindra World City (Jaipur) and Mahindra World City (Maharashtra), which will develop two new SEZs of 3,000 acres each in partnership with the governments of Rajasthan and Maharashtra for multi product SEZs near Jaipur and Lonavala.

The company has planned three SEZs in Jaipur, Thane, and Karla (near Pune). The company is expanding into Tier II cities and pursuing residential properties in SEZs.

In Brief

 
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