Separately, Mahindra Lifespace has been selected as the preferred partner for the redevelopment of four residential societies in Malad (West), Mumbai. The 1.65-acre project has an estimated development potential of around Rs 800 crore.

Located close to the company’s ongoing project, Mahindra Codename64, the new Malad development strengthens its presence in the area. The site is just 2.6 km from the Western Express Highway, less than 1 km from Malad West Metro Station, and 1.5 km from Malad Railway Station, offering strong connectivity to key business hubs like Mindspace and Bandra Kurla Complex (BKC).

The redevelopment project is situated in a well-developed residential area with easy access to schools, hospitals, retail outlets, and business centres, offering residents enhanced urban convenience and mobility across Mumbai.

Mahindra Lifespaces Developers, the real estate arm of the Mahindra Group, has a development footprint of 49.26 million sq. ft. across seven cities and over 5,000 acres of industrial clusters. Its portfolio includes premium residences, affordable homes under the Happinest brand, and integrated cities under Mahindra World City and Origins.

On a consolidated basis, the company reported a 302.8% surge in net profit to Rs 51.24 crore, while revenue from operations fell 31.97% to Rs 31.97 crore in Q1 FY26 over Q1 FY25.