Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has announced plans to allocate approximately Rs 6,000 crore towards residential ventures in the coming four years. The initiative aims to propel the company's business growth, with the goal of escalating its residential business turnover from the current Rs 2,268 crore to a substantial Rs 8,000 crore by the financial year 2028. Over this period, MLDL is slated to unveil a series of projects with a gross development value (GDV) amounting to Rs 45,000 crore.

Vimalendra Singh, Chief Business Officer (Residential), West, Mahindra Lifespace Developers, expressed optimism regarding the company's performance, particularly in the key cities of Mumbai, Pune, and Bengaluru. "Nationally, this year has been very good for us, and hopefully, we will end on a good note. The three focus cities that we are targeting are Mumbai, Pune, and Bengaluru. We are targeting a GDV of around Rs 45,000 crore over the next few years," Singh stated. He further elaborated on the ambitious target set by the company, aiming to achieve a turnover ranging between Rs 8,000 to 10,000 crore by FY28.

Singh emphasized the strategic focus on deepening the company's presence in micro markets through the introduction of new projects and the development of additional phases within existing projects. "In the next four years, we may be investing around Rs 6,000 crore," he affirmed. MLDL plans to introduce between six to ten launches annually, exploring opportunities for joint development ventures to optimize capital utilization and leverage larger land parcels.

The company's expansion strategy extends to housing society redevelopments and the outright acquisition of land parcels. Recently, MLDL unveiled its second plotted development, named Green Estates, at Mahindra World City in Chennai, following the successful sell-out of the initial plotted development, Lakefront Estates, within a year. "We will have between six to ten launches every year. We are exploring a lot of joint development also. That allows us to optimize capital and look at the larger land parcels," Singh reiterated.

As MLDL intensifies its focus on joint developments, housing society redevelopments, and land acquisitions, the company aims to augment its gross development value (GDV) in its priority markets of Mumbai, Pune, and Bengaluru.