Mahindra Lifespace Developers is in the spotlight this Wednesday. The company has teamed up with Livingstone Infra to redevelop a project in Mumbai, which could bring in about Rs 1,650 crore.
In a recent announcement, Mahindra Lifespace said they are working with Livingstone Infra Pvt Ltd on a redevelopment project in Mahalaxmi, an upscale area in Mumbai. This project is a big step for Mahindra as it will help them grow in South Mumbai’s luxury housing market, providing new homes that aim to improve the city’s look.
The project will focus on top-notch designs, eco-friendly features, and luxury amenities, making the city’s skyline even more impressive. The Mahalaxmi location is perfect for this project because it connects well to important business areas, services, and fun spots in South Mumbai.
Mahindra Lifespace Developers is already active across seven Indian cities, with 394.4 lakh square feet of housing projects either completed or underway. They also have more than 5,000 acres of ongoing and future projects in four cities, covering a mix of both housing and industrial developments.
As for the stock, data from Trendlyne shows that the average target price for Mahindra Lifespace Developers shares is Rs 638. This suggests a potential increase of 84% from the current prices. Seven analysts agree that the stock is a ‘Strong Buy’.
On Tuesday, Mahindra Lifespace Developers shares closed at Rs 347, falling by 2.45%, while the overall market saw a tiny drop too. The stock has lost 41% of its value in the last six months and 42% over the past year. Currently, the company’s market value is Rs 5,393 crore.
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