Mahindra Lifespace Developers targets Rs 3,000 crore revenue from new housing project in Mumbai

New Delhi: Realty firm Mahindra Lifespace Developers Ltd is expecting a revenue of around Rs 3,000 crore from its new housing project in Mumbai.

In a regulatory filing on Thursday, the company said it has launched first two phases of a mixed-use project 'Mahindra Rainforest' on LBS Marg, Kanjur, Mumbai.

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"Spanning 25.47 acres, the project is among the largest developments in Mumbai's central suburbs and is envisioned as an integrated lifestyle destination. The residential launch phases have an estimated Gross Development Value (GDV) of approximately Rs 3,000 crore," it added.

The GDV means the total sales value of units launched in this project.

Mahindra Lifespace Developer Ltd, the real estate and infrastructure development arm of the Mahindra Group, did not mention the investment to develop this project.

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The company's development footprint spans 53.65 million sq ft (saleable area) of completed, ongoing and forthcoming residential projects across seven Indian cities. It also has over 5,000 acres of ongoing and forthcoming projects under development / management at its integrated developments / industrial clusters across four locations.