Mumbai: Mahindra Lifespace Developers saw a sharp surge in its stock price on Tuesday, climbing 11.8 per cent to an intraday high of Rs 348.6 per share on the Bombay Stock Exchange (BSE). The rally came after the company announced a strategic partnership with Livingstone Infra Private Limited for a significant cluster redevelopment project in Mahalaxmi, Mumbai. The project boasts a Gross Development Value (GDV) of Rs 1,650 crore.

At around 12:27 PM, the company’s stock was trading 8.05 per cent higher at Rs 336.75, outperforming the BSE Sensex, which was up just 0.22 per cent at 75,463.67. Despite the recent upswing, Mahindra Lifespaces’ market capitalization stood at Rs 5,222.58 crore, still trailing its 52-week high of Rs 679.15 per share. The stock’s 52-week low remains at Rs 300.05 per share.

Premium Project in Prime Location

The Mahalaxmi redevelopment project is poised to be a game-changer for Mahindra Lifespaces. Located in one of South Mumbai’s most sought-after neighborhoods, the site offers unparalleled connectivity to business hubs, essential services, and leisure spots. This prime positioning is expected to attract significant investor and buyer interest.

“We hereby inform you that, post requisite regulatory processes, the Company has partnered with Livingstone Infra Private Limited for a cluster redevelopment project in Mahalaxmi, with a GDV of Rs 1,650 crore,” the company said in an exchange filing.

Mahindra Lifespaces’ Legacy and Expansion Plans

Established in 1994, Mahindra Lifespace Developers Ltd. is a key player in India’s real estate and infrastructure sector. As part of the Mahindra Group, it brings the philosophy of ‘Rise’ into real estate by developing thriving residential communities and enabling business ecosystems.

The company has a development footprint of 39.44 million square feet (saleable area) across seven cities. Additionally, it manages integrated developments and industrial clusters spanning over 5,000 acres across four cities under its ‘Mahindra World City’ and ‘Origins by Mahindra’ brands.

Mahindra Lifespaces’ portfolio includes premium residential projects and value homes under the ‘Mahindra Happinest’ brand. The company is committed to innovation, sustainable development, and quality living, aligning with the growing demand for responsible urbanization.

Stock Performance: Long-Term Weakness Despite Recent Gains

While Mahindra Lifespaces has witnessed a short-term surge, the stock has struggled over the past year, shedding 41.7 per cent of its value compared to the Sensex’s modest gain of 4.5 per cent. Investors will closely watch the company’s execution of the Mahalaxmi project and its broader growth strategy to gauge the long-term potential of the stock.