Mahindra Lifespace gains on securing Rs 1,700-cr redevelopment projects in Chembur

The two housing societies collectively span approximately 4.4 acres, with one covering 2.6 acres and the other 1.8 acres. The projects are expected to deliver well-planned residential spaces focused on sustainability, modern amenities, and seamless connectivity.

?The redevelopment will not only enhance the living experience for current and future residents but also create long-term value through thoughtful design and environmentally responsible practices,? the company said in a statement.

The redevelopment projects are located in the Diamond Garden area of Chembur, a neighbourhood long recognised for its strategic connectivity between Mumbai?s key business districts and the eastern suburbs. The site is just 1.5 kilometres from the Eastern Freeway, providing seamless access to Thane, Navi Mumbai, and other parts of the city. Connectivity will receive an added boost with the upcoming Diamond Garden Metro Station on Line 2, along with the existing Monorail and Suburban Railway networks in close proximity.

Vimalendra Singh, chief business officer (CBO)? residential, Mahindra Lifespace Developers, said ?Redevelopment continues to play an important role in our growth journey. It enables us to bring highquality residential projects to neighbourhoods where demand remains strong. We are grateful for the trust the societies have placed in us, and through this project we look forward to contributing to the growth story of Chembur.?

Mahindra Lifespaces Developers is the real estate arm of the Mahindra Group. The company?s development footprint spans 41.11 million square feet (saleable area) of completed, ongoing, and forthcoming residential projects across seven Indian cities and over 5000 acres of ongoing and forthcoming projects under development/management at its integrated developments/industrial clusters across four locations.

The company reported a 302.8% surge in consolidated net profit to Rs 51.24 crore, while revenue from operations fell 31.97% to Rs 31.97 crore in Q1 FY26 over Q1 FY25.

Powered by Capital Market - Live News