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Mahindra Lifespace announced that it has acquired 5.38 acres of land in the premier neighborhood of Wagholi in Pune.
Amit Kumar Sinha, managing director & CEO 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.”
Mahindra Lifespace Developers is the real estate and infrastructure development arm of the Mahindra Group. The company's development footprint spans 33.55 million sq. ft. of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5,000 acres of ongoing and forthcoming projects under development/management at its integrated developments/industrial clusters across four locations.
The company reported a net loss of Rs 4.27 crore in Q1 FY24 as against a net profit of Rs 75.41 crore in Q1 FY23. Net sales rose 3.7% YoY to Rs 98.04 crore in Q1 FY24.
The shares of Mahindra Lifespace Developers rose 0.46% to Rs 525.55 on the BSE.
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