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Mahindra Lifespaces

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Mahindra Lifespace Developers Limited
Company typePublic
BSE: 532313, NSE: MAHLIFE
Founded1994[1]
Headquarters
Mumbai
,
India
Key people
RevenueIncrease ₹659 crore (US$75 million) (2023)
Decrease ₹−110 crore (US$−13 million)(2023)
Decrease ₹101 crore (US$12 million) (2023)
Total assetsIncrease ₹3,610 crore (US$410 million) (2023)
Total equityIncrease ₹1,805 crore (US$210 million) (2023)
Number of employees
300+ (2021)
ParentMahindra & Mahindra
Websitemahindralifespaces.com

Mahindra Lifespace Developers Ltd. is an Indian real estate and infrastructure development company headquartered in Mumbai, India. The company was founded in 1994 and is part of the Mahindra Group.[2] The company is engaged in residential developments under the Mahindra Lifespaces and Happinest brands;[3] and integrated cities and industrial clusters under the ‘Mahindra World City’ and ‘ORIGINS by Mahindra World City’ brands.[4] The company has developed properties in Mumbai, Pune, Nagpur, Ahmedabad, Delhi NCR, Jaipur, Hyderabad, Chennai, and Bengaluru.[2][5]

History

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GESCO Corporation Limited was incorporated as a Private Limited Company on 16 March 1999 which was converted to a Public Limited Company on 18 August 1999. GESCO was originally the real estate division of Great Eastern Shipping and was spun off into an independent company in April 1999. In 2001, GESCO Corporation and Mahindra Realty & Infrastructure Developers Ltd (MRIDL) demerged the realty and infrastructure divisions of MRIDL and merged it into GESCO.[6] In 2007, the Company name was changed from Mahindra GESCO Developers Limited to Mahindra Lifespace Developers Ltd. (MLDL)[7]

Mahindra World City, Chennai jointly developed by the Mahindra group and the Tamil Nadu Industrial Development Corporation, is corporate India's first operational private special economic zone (SEZ).[8]

Awards and recognition

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2015

  • Awarded Mint Strategy Award for construction, real estate and steel[9]

2016

  • Porter Prize For Excellence In Governance by India's National Competitiveness Forum (NCF)[10]
  • Mahindra Lifespaces was also ranked 2nd in Asia, in the ‘Diversified’/’Listed’ category of real estate companies, in the Global Real Estate Sustainability Benchmarking (GRESB) report.[11]

The Mahindra Teri Centre of Excellence

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The Mahindra Teri Centre of Excellence was developed to reduce the footprint of the real estate industry and to influence the real estate industry and its value chain to move towards innovative and sustainable development.[12][13]

Sustainable Leadership Housing Coalition

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MLDL is one of the founding members of the Sustainable Housing Leadership Consortium (SHLC), a private sector-led consortium founded in 2016.[14]

Green Army Initiative

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Mahindra Lifespace initiated its 'Green Army' initiative in 2014 which aimed to increase awareness of sustainable living habits among children. The program identifies children as primary change agents of the future and educates them on sustainable living habits and choices.[14]

Mahindra World City Jaipur

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MWC Jaipur is a joint venture between Mahindra Lifespace Developers Ltd (MLDL) and Rajasthan State Industrial Development and Investment Corporation (RIICO). In 2015, MWCJ became the first project in Asia to receive Stage 2 Climate Positive Development certification from the C40 Cities Climate Leadership Group (C40).[15]

References

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  1. ^ "IFC to invest $50 mn in Mahindra Lifespace projects". Vccircle.com. 19 September 2017. Retrieved 9 April 2019.
  2. ^ a b "Mahindra Lifespace plans to acquire land parcels with sales potential of Rs 2,000 crore". Business Line. 14 June 2020. Retrieved 25 September 2020.
  3. ^ Sapam, Bidya (1 July 2019). "Mahindra Lifespace looks to scale up its affordable housing biz". Mint. Retrieved 25 September 2020.
  4. ^ Sapam, Bidya (4 March 2019). "Mahindra Lifespace looks to add strategic investment partners". Mint. Retrieved 25 September 2020.
  5. ^ "Sangeeta Prasad resigns as MD, CEO of Mahindra Lifespaces". The Financial Express. 7 February 2020. Retrieved 25 September 2020.
  6. ^ "Gesco eyes foray into retail, entertainment". The Financial Express. 21 January 2002. Retrieved 9 April 2019.
  7. ^ "Mahindra Lifespace Developers History - Mahindra Lifespace Developers Information". The Economic Times. Retrieved 9 April 2019.
  8. ^ "Archived copy". Archived from the original on 29 January 2018. Retrieved 29 January 2018.{{cite web}}: CS1 maint: archived copy as title (link)
  9. ^ "Strategy Awards 2015 – Porter Prize". Retrieved 1 December 2020.
  10. ^ "Winners 2016 – Porter Prize". Retrieved 1 December 2020.
  11. ^ "Mahindra Lifespaces among Asia's top 100 most sustainable companies | JNICSR Times". Retrieved 1 December 2020.
  12. ^ "Mahindra-TERI Center of Excellence". Business Standard India. 20 May 2016. Retrieved 2 November 2020.
  13. ^ "Mahindra-TERI centre of excellence to develop energy-efficient technology for real estate sector". Business Line. 12 June 2018. Retrieved 2 November 2020.
  14. ^ a b "Mahindra Lifespaces launches its 'Green Army' initiative". Architecture Update. 1 October 2015. Retrieved 2 November 2020.
  15. ^ "Mahindra World City Jaipur provides 16 acres to 4 firms for setting up facilities". Moneycontrol. 25 June 2020. Retrieved 2 November 2020.
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