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Mahindra Lifespace Developers is locked its upper circuit limit at Rs. 320.55, up by 53.40 points or 19.99 % from its previous closing of Rs. 267.15 on the BSE.

The scrip opened at Rs. 269.70 and has touched a high and low of Rs. 320.55 and Rs. 269.70 respectively. So far 144714 shares were traded on the counter.

The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 320.55 on 10-Feb-2021 and a 52 week low of Rs. 151.95 on 19-Apr-2021.

Last one week high and low of the scrip stood at Rs. 320.55 and Rs. 252.70 respectively. The current market cap of the company is Rs. 4862.50 crore.

The promoters holding in the company stood at 51.34%, while Institutions and Non-Institutions held 27.99% and 20.67% respectively.

Mahindra Lifespace Developers has received approval from its board to purchase approximately 9.24 acres of land in Kandivali in Mumbai from Mahindra & Mahindra (M&M) for real estate development. The closing of the transaction is subject to related-party approval from shareholders of Mahindra Lifespace Developers and other statutory approvals. This new project is Mahindra Lifespaces’ second residential development in Kandivali after it’s successful ‘Mahindra Roots’ project and will offer approximately 1 million sq. ft. of carpet area. The project is expected to be launched in FY 2023.

The land parcel lies in the well-developed residential area of Akurli Road in Kandivali East. This neighborhood is home to reputed schools and malls. The Western Express Highway, the nearest metro station and Kandivali railway station are all located within a 4 KM radius of the project. Kandivali East enjoys convenient connectivity to employment hubs in Mira Road, Malad, Goregaon, Jogeshwari and Andheri.

Mahindra Lifespace Developers is the real estate and infrastructure development company and a pioneer of sustainable urbanization in India.