The project spans approximately 1.53 acres, with a gross development value of around Rs 1,010 crore.

Located in Matunga, the site benefits from seamless connectivity to key social and business hubs. The micro market is a well-established residential catchment with proximity to Shivaji Park, leading educational institutions, healthcare facilities, retail destinations, robust transport networks and nearby metro links.

Vimalendra Singh, chief business officer- Residential, Mahindra Lifespace Developers, said: “This mandate is a strong endorsement of the trust communities place in Mahindra Lifespaces to deliver redevelopment that genuinely uplifts neighbourhoods.

Matunga is a well established and highly valued neighbourhood, and this redevelopment allows us to contribute thoughtfully to its next chapter with homes designed for modern lifestyles.'

Mahindra Lifespaces Developers, the real estate arm of the Mahindra Group, has a development footprint of 53.30 million square feet across seven cities and over 5,000 acres of industrial clusters. Its portfolio includes premium residences, affordable homes under the Happinest brand, and integrated cities under Mahindra World City and Origins.

The company reported consolidated net profit of Rs 47.91 crore in Q2 FY26, compared with net loss of Rs 14.01 crore in corresponding quarter last year. Revenue from operations soared 130.74% to Rs 17.56 crore during the quarter ended 30th September 2025.

The scrip shed 0.31% to currently trade at Rs 418 on the BSE.