Mahindra Lifespaces

Mahindra Lifespace Developers Limited
TypePublic
BSE: 532313, NSE: MAHLIFE
Founded1994
Headquarters
Mumbai
,
India
Key people
RevenueIncrease ₹1,266 crore (US$140 million) (total income, FY2026)
Decrease ₹−110 crore (US$−12 million)(2023)
Increase ₹298 crore (US$32 million) (FY2026)
Total assetsIncrease ₹3,610 crore (US$390 million) (2023)
Total equityIncrease ₹1,805 crore (US$190 million) (2023)
Number of employees
300+ (2021)
ParentMahindra & Mahindra
Websitemahindralifespaces.com

Mahindra Lifespace Developers Ltd. is an Indian real estate and infrastructure development company headquartered in Mumbai, India. The company was founded in 1994 and is part of the Mahindra Group. The company focuses on residential developments and integrated cities and industrial clusters across various locations in India including Mumbai, Pune, Nagpur, Ahmedabad, Delhi NCR, Jaipur, Hyderabad, Chennai, and Bengaluru.

History

GESCO Corporation Limited was incorporated as a Private Limited Company on 16 March 1999 which was converted to a Public Limited Company on 18 August 1999. GESCO was originally the real estate division of Great Eastern Shipping and was spun off into an independent company in April 1999. In 2001, GESCO Corporation and Mahindra Realty & Infrastructure Developers Ltd (MRIDL) demerged the realty and infrastructure divisions of MRIDL and merged it into GESCO. In 2007, the Company name was changed from Mahindra GESCO Developers Limited to Mahindra Lifespace Developers Ltd. (MLDL)

Sangeeta Prasad, managing director and chief executive officer since October 2018, resigned in February 2020 to pursue other interests, with effect from 30 June 2020. She was succeeded from 1 July 2020 by Arvind Subramanian, previously chief executive of Mahindra Happinest, the company's affordable housing business. Subramanian resigned for personal reasons, effective 22 May 2023, and Amit Kumar Sinha was appointed to the role from 23 May 2023. In February 2025, the company's board approved raising up to ₹1,500 crore (US$160 million) through a rights issue to reduce debt and fund growth. In the 2025–26 financial year, its sales bookings rose 21 percent to ₹3,405 crore (US$360 million), and its net profit rose to ₹298.17 crore (US$32 million) from ₹61.35 crore (US$6.6 million) the previous year.

Awards and recognition

2016: Porter Prize For Excellence In Governance by India's National Competitiveness Forum (NCF)

Initiatives

The Mahindra Teri Centre of Excellence

In 2016, the company and The Energy and Resources Institute (TERI) agreed to establish the Mahindra-TERI Centre of Excellence for Sustainable Habitats at TERI's Gual Pahari campus near Gurgaon. The centre was set up to research energy and water efficiency, low-cost green materials and building technologies suited to Indian residential buildings.

Sustainable Leadership Housing Coalition

MLDL is one of the founding members of the Sustainable Housing Leadership Consortium (SHLC), a private sector-led consortium founded in 2016.

Mahindra World City Jaipur

MWC Jaipur is a joint venture between Mahindra Lifespace Developers Ltd (MLDL) and Rajasthan State Industrial Development and Investment Corporation (RIICO). In 2015, MWCJ became the first project in Asia to receive Stage 2 Climate Positive Development certification from the C40 Cities Climate Leadership Group (C40).

References

  1. ↑ "IFC to invest $50 mn in Mahindra Lifespace projects". Vccircle.com. 19 September 2017. Retrieved 9 April 2019.
  2. 1 2 3 "Mahindra Lifespace Pre-Sales Rise 21% To ₹3,405 Cr in FY26 on Strong Housing Demand". Outlook Business. Press Trust of India. 29 April 2026. Retrieved 27 October 2026.
  3. 1 2 "Mahindra Lifespace plans to acquire land parcels with sales potential of Rs 2,000 crore". Business Line. 14 June 2020. Retrieved 25 September 2020.
  4. ↑ Sapam, Bidya (1 July 2019). "Mahindra Lifespace looks to scale up its affordable housing biz". Mint. Retrieved 25 September 2020.
  5. ↑ Sapam, Bidya (4 March 2019). "Mahindra Lifespace looks to add strategic investment partners". Mint. Retrieved 25 September 2020.
  6. ↑ "Sangeeta Prasad resigns as MD, CEO of Mahindra Lifespaces". The Financial Express. 7 February 2020. Retrieved 25 September 2020.
  7. ↑ "Gesco eyes foray into retail, entertainment". The Financial Express. 21 January 2002. Retrieved 9 April 2019.
  8. ↑ "Mahindra Lifespace Developers History - Mahindra Lifespace Developers Information". The Economic Times. Retrieved 9 April 2019.
  9. ↑ "Sangeeta Prasad resigns as MD, CEO of Mahindra Lifespaces". Business Standard. Press Trust of India. 7 February 2020. Retrieved 27 October 2026.
  10. ↑ "Mahindra Lifespaces appoints Arvind Subramanian as Managing Director and CEO" (Press release). Mahindra Group. 15 May 2020. Retrieved 27 October 2026.
  11. ↑ "Mahindra Lifespace tumbles 8% after MD & CEO tenders resignation". Business Standard. 24 February 2023. Retrieved 27 October 2026.
  12. ↑ "Mahindra Lifespace to raise Rs 1,500 cr via rights issue to cut debt, grow". Business Standard. Press Trust of India. 15 February 2025. Retrieved 27 October 2026.
  13. ↑ "Winners 2016 – Porter Prize". Retrieved 1 December 2020.
  14. ↑ "Mahindra-TERI Center of Excellence". Business Standard India. 20 May 2016. Retrieved 2 November 2020.
  15. ↑ "Mahindra-TERI centre of excellence to develop energy-efficient technology for real estate sector". Business Line. 12 June 2018. Retrieved 2 November 2020.
  16. ↑ "Mahindra Lifespaces launches its 'Green Army' initiative". Architecture Update. 1 October 2015. Retrieved 2 November 2020.
  17. ↑ "Mahindra World City Jaipur provides 16 acres to 4 firms for setting up facilities". Moneycontrol. 25 June 2020. Retrieved 2 November 2020.