Mahindra Lifespace goes aggressive in buying land parcels for new projects

Mahindra Lifespace Develo­pers, the real estate company of the Mahindra group, is changing gear after it lagged behind peers such as Godrej Properties and Prestige Estat­es Projects as they expanded aggressively in the last decade.

The company is looking to invest Rs 500 crore every year in buying land parcels to develop new projects, managing director (MD) and chief executive officer (CEO) Arvind Subra­manian said. Analysts expect its sales bookings value to grow 39 per cent on compound annual growth rate (CAGR) basis between FY21 and FY25.

Despite the third wave, the company expects to have new residential launches in