Mahindra Lifespace Developers, the real estate and infrastructure arm of the Mahindra Group is likely to raise Rs 250 crore in debt before the end of this fiscal to part-fund the ongoing projects in various states. The company has received board’s approval for raising Rs 500 crore, but it will raise 50% of it.
The company is going to launch Rs 250-crore real estate housing project in Hyderabad. The company currently has around 10 million square feet of space at various stages of development and it requires Rs 2,000-crore investments to complete all these projects in the next four years.
Mahindra Lifespace Developers (MLDL) is the real estate and infrastructure development subsidiary of Mahindra & Mahindra (M&M). At present, M&M holds 51% of the equity share capital of MLDL. MLDL has two main lines of businesses - standalone real estate development and development of integrated business cities.
