Mahindra Lifespace Developers gains on launching premium residential project in Hyderabad

03 Dec 2012

Mahindra Lifespace Developers is currently trading at Rs. 419.00, up by 4.30 points or 1.04% from its previous closing of Rs. 414.70 on the BSE.

The scrip opened at Rs. 418.00 and has touched a high and low of Rs. 420.00 and Rs. 410.40 respectively. So far 2,237 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 452.00 on 19-Nov-2012 and a 52 week low of Rs. 235.00 on 30-Dec-2011.

Last one week high and low of the scrip stood at Rs. 438.00 and Rs. 410.40 respectively. The current market cap of the company is Rs. 1710.00 crore.

The promoters holding in the company stood at 51.05% while Institutions and Non-Institutions held 31.78% and 16.96% respectively.

Mahindra Lifespace Developers, the real estate and infrastructure development arm of the $15.9 billion Mahindra Group, has debut in Andhra Pradesh with the launching of ‘Ashvita’, a premium residential project in Hyderabad. This flagship development of premium apartments is spread over 9.25 acres at Kukatpally, Hyderabad and will offer buyers the trust and quality associated with Mahindra Lifespaces.

Ashvita is being developed as a gated community and offers a choice of 2BHK (1218 sq.ft. to 1261 sq. ft.), 3BHK (1567 sq.ft. to 1847 sq. ft.) and 4BHK (2018 sq. ft to 2082 sq. ft) units with an emphasis on open spaces within the complex, to meet buyer preferences. Ashvita is surrounded by quality social infrastructure & is located on the main arterial road connecting HITEC City to NH-9. It is close to the HITEC City MMTS station that is located less than one km away & the Mahindra Satyam Campus that is at a distance of 3 kms with travel time of 5 minutes, making it a good emerging residential area for people working at HITEC City.

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