Mahindra Lifespaces

Last updated

Mahindra Lifespace Developers Limited
Company type Public
BSE:  532313, NSE:  MAHLIFE
Founded1994 [1]
Headquarters,
India
Key people
RevenueIncrease2.svg659 crore (US$83 million) (2023)
Decrease2.svg−110 crore (US$−14 million)(2023)
Decrease2.svg101 crore (US$13 million) (2023)
Total assets Increase2.svg3,610 crore (US$450 million) (2023)
Total equity Increase2.svg1,805 crore (US$230 million) (2023)
Number of employees
300+ (2021)
Parent Mahindra & Mahindra
Website mahindralifespaces.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. [2] The company is engaged in residential developments under the Mahindra Lifespaces and Happinest brands; [3] and integrated cities and industrial clusters under the ‘Mahindra World City’ and ‘ORIGINS by Mahindra World City’ brands. [4] The company has developed properties in Mumbai, Pune, Nagpur, Ahmedabad, Delhi NCR, Jaipur, Hyderabad, Chennai, and Bengaluru. [2] [5]

Contents

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. [6] In 2007, the Company name was changed from Mahindra GESCO Developers Limited to Mahindra Lifespace Developers Ltd. (MLDL) [7]

Mahindra World City, Chennai jointly developed by the Mahindra group and the Tamil Nadu Industrial Development Corporation, is corporate India's first operational private special economic zone (SEZ). [8]

Board of directors

The Board of Directors of the company is headed by Arun Nanda, chairman of Mahindra Lifespace Developers Ltd. [9] and Mahindra Holidays & Resorts (I) Ltd. Other members of the Board of Directors include Arvind Subramaniam, [10] Anish Shah and Ameet Hariani, Bharat D. Shah and Amrita Verma Chowdhury hold the position of independent directors. [11]

Projects (residential)

Mahindra Happinest Palghar.jpg
Mahindra Happinest Palghar
Mahindra Happinest Boisar.jpg
Mahindra Happinest Boisar
Mahindra Happinest Avadi.jpg
Mahindra Happinest Avadi
Mahindra Roots.jpg
Mahindra Roots
Mahindra Luminare.jpg
Mahindra Luminare
Mahindra Bloomdale.jpg
Mahindra Bloomdale

Current Projects

Integrated cities

Industrial cluster

Awards and recognition

2015

2016

2018

2019

2020

The Mahindra Teri Centre of Excellence

The Mahindra Teri Centre of Excellence was developed to reduce the footprint of the real estate industry and to influence the real estate industry and its value chain to move towards innovative and sustainable development. [39] [40]

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. [41]

Green Army Initiative

Mahindra Lifespace initiated its 'Green Army' initiative in 2014 which aimed to increase awareness of sustainable living habits among children. The program identifies children as primary change agents of the future and educates them on sustainable living habits and choices. [41]

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). [42]

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