Mahindra Lifespace acquires land in Pune, shares rise

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Mahindra Lifespace developers Ltd’s shares were up by 1.02 per cent after the company announced acquiring 5.38 acres of land in Pune’s Wagholi neighborhood, offering a development of over 1.5 million square feet.

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Amit Kumar Sinha, Managing Director and CEO of Mahindra Lifespace, said, “Wagholi is a high potential micro market of Pune. It has a growing demand for high-quality residential spaces, ready to be absorbed. The proposed land parcel is located within a well-planned Kharadi-Wagholi micro-market, boasting a robust social amenities and civic infrastructure. This land acquisition reaffirms our commitment to Pune and is aligned with our strategy to further solidify our presence in the city’s pivotal micro-markets.”

The shares were up by 0.34 per cent to ₹525 at 11.52 am on the NSE.