Mahindra Lifespace expects Rs 1,500 cr revenue from redevelopment of 3 housing societies in Mumbai

New Delhi: Realty firm Mahindra Lifespace Developers Ltd will redevelop three housing societies in Mumbai and expects a revenue of Rs 1,500 crore from saleable area.

In a regulatory filing on Wednesday, the company informed that it has "added three societies to its residential redevelopment portfolio in Mumbai."

The additions include two societies in a redevelopment project in Borivali and one additional society in an existing redevelopment project in Chembur.

Together, these projects have a total revenue potential of Rs 1,500 crore.

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Vimalendra Singh, Chief Business Officer, Residential, Mahindra Lifespace Developers Ltd, said, "Mumbai's redevelopment market gives us an opportunity to grow our residential business in established locations while bringing our strong development track record to projects that meaningfully contribute to neighbourhoods."

With these three societies, he said the company is expanding its redevelopment portfolio across the city.

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Mahindra Lifespace, a real estate arm of Mahindra Group, is one of the leading developers in the country.