Mahindra Lifespace Developers soars on purchasing land in East Bengaluru
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Mahindra Lifespace Developers is currently trading at Rs. 583.70, up by 19.10 points or 3.38% from its previous closing of Rs. 564.60 on the BSE.
The scrip opened at Rs. 575.30 and has touched a high and low of Rs. 586.10 and Rs. 568.95 respectively. So far 6302 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 632.80 on 05-Feb-2024 and a 52 week low of Rs. 318.10 on 29-Mar-2023.
Last one week high and low of the scrip stood at Rs. 586.10 and Rs. 542.90 respectively. The current market cap of the company is Rs. 8750.25 crore.
The promoters holding in the company stood at 51.18%, while Institutions and Non-Institutions held 31.73% and 17.09% respectively.
Mahindra Lifespace Developers has purchased approximately 2.0 acres of land in Whitefield, East Bengaluru. The land is estimated to have a developable potential of approximately 0.2 million square feet of saleable area and a Gross Development Value of approximately Rs 225 crore, primarily comprising mid-premium residential apartments.
Located in the vibrant area of Whitefield, the site offers seamless connectivity to tech parks and commercial offices, complemented by a robust social infrastructure that includes top-notch educational institutes, healthcare facilities, and retail options. The neighborhood is renowned for its premium residential communities, bustling shopping malls, esteemed educational institutions, and a plethora of entertainment venues.
Mahindra Lifespace Developers is the real estate and infrastructure development company and a pioneer of sustainable urbanization in India.
