Mahindra Lifespace Developers Ltd (MLDL) has added three housing societies to its residential redevelopment portfolio in Mumbai, with the projects carrying a combined potential gross development value (GDV) of ₹1,500 crore.
The additions comprise two societies in a redevelopment project in Borivali and one additional society in an existing redevelopment project in Chembur. The move expands the Mahindra Group real estate arm’s redevelopment portfolio in Mumbai and forms part of its broader residential growth strategy.
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, we are expanding our redevelopment portfolio across the city. This move is a part of our approach to building a stronger and more diverse residential portfolio.”
The company said the additions strengthen its presence in Mumbai’s redevelopment market. Its premium residential portfolio spans Mumbai, Pune, Chennai and Bengaluru.
The company’s development footprint comprises 53.65 million square feet of saleable area across completed, ongoing and forthcoming residential projects in seven Indian cities. It also has more than 5,000 acres of ongoing and forthcoming projects under development or management across integrated developments and industrial clusters at four locations.
Its development portfolio includes premium residential projects, value homes under the Mahindra Happinest brand, integrated cities under Mahindra World City, and industrial clusters under Origins by Mahindra.
Mahindra Lifespaces has also committed to building only Net Zero homes from 2030 onwards. The company said it has launched three Net Zero residential developments — one Net Zero Energy project and two Net Zero Energy+ Waste developments — and has maintained a 100% Green portfolio since 2014. It is working towards carbon neutrality by 2040.
MLDL’s latest projects in Borivali and Chembur come amid increasing redevelopment activity in Mumbai. A September 2026 JLL–NAREDCO report said more than 1,000 redevelopment projects had been launched since 2020, accounting for about 13% of the city’s residential launches. Borivali was among five locations — along with Malad, Andheri, Vikhroli and Goregaon — that together accounted for 36% of redevelopment launches.