NEW DELHI: Mahindra Lifespace Developers (MLDL), part of the Mahindra Group’s real estate and infrastructure development sector, has been appointed as the development partner for a residential redevelopment project in Matunga, Mumbai.
The project covers approximately 1.53 acres and boasts a gross development value of around ₹1,010 crore.
According to its investor presentation, Mahindra Lifespaces plans to execute a bottom-up strategy that includes several new launches and ongoing projects through FY30.
Projected new launches are expected to represent 50–75% of annual execution in the next five years, with an increase from ₹2,804 crore in FY25 to ₹9,500 crore by FY30, demonstrating the company’s aggressive growth strategy.
Key projects anticipated for launch between FY26 and FY30 include developments in Kandivali, Malad, Kalyan, Thane, Pune, and Bhandup, maintaining a strong focus on the Mumbai Metropolitan Region (MMR), where the Matunga redevelopment is located.
The company also reported a stronger balance sheet following its rights issue, with net debt decreasing to ₹445 crore as of September 2025, down from ₹734 crore in FY25. The net debt-to-equity ratio has consistently stayed below 0.5x over the last five years, allowing significant room for growth in redevelopment and future acquisitions.
The proceeds from the rights issue were allocated towards long-term debt repayment and acquisitions, positioning the developer to better navigate market cycles while expanding its redevelopment and new launch pipeline.
