Mahindra Lifespace Developers gains on the BSE
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Mahindra Lifespace Developers is currently trading at Rs. 471.20, up by 1.20 points or 0.26% from its previous closing of Rs. 470.00 on the BSE.
The scrip opened at Rs. 473.50 and has touched a high and low of Rs. 477.75 and Rs. 470.70 respectively. So far 557 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 577.30 on 05-Apr-2021 and a 52 week low of Rs. 171.20 on 07-May-2020.
Last one week high and low of the scrip stood at Rs. 503.20 and Rs. 456.30 respectively. The current market cap of the company is Rs. 2433.25 crore.
The promoters holding in the company stood at 51.46%, while Institutions and Non-Institutions held 26.89% and 21.65% respectively.
Mahindra Lifespace Developers has finalised the terms to purchase approximately 3.2 acres of land in Pimpri, Pune, from Mahindra & Mahindra. The purchase is expected to be concluded in around six months, subject to the fulfillment of agreed conditions by both buyer and seller.
The land parcel is strategically located in the residential area of Nehru Nagar. This new project will offer approximately 3.25 lakh sq. ft. of carpet area. When it is launched, this will be Mahindra Lifespaces' fourth residential project in the micro market. Its last project in that market, Mahindra Centralis, was sold out at launch in 2019.
Mahindra Lifespace Developers is the real estate and infrastructure development business of the $19 billion Mahindra Group, and a pioneer of sustainable urbanization in India.
