Mahindra Lifespace Shares Surge 11% on Mumbai Redevelopment Project, Lead Realty Index Gains

Mahindra Lifespace Developers Ltd (MAHLIFE) soared 11% to ₹342.4 on the BSE and NSE today, marking its sharpest single-day gain in three weeks, following the announcement of a ₹1,650 crore redevelopment project in Mumbai’s Mahalaxmi area. Partnering with Livingstone Infra Pvt Ltd, the project targets a gross development value (GDV) of ₹1,650 crore ($190.7M) and aims to deliver premium, sustainable residences in South Mumbai. The stock emerged as the top performer on the Nifty Realty Index, which rose 2.12%. Analysts maintain a median target price of ₹580 (LSEG data), reflecting a 70% upside potential. The company also secured an 18.92-acre industrial lease in Tamil Nadu.

 

Sources: NSE/BSE Filings, Economic Times, Business Today