Mahindra & Mahindra’s (M&M) board has approved sale/transfer of Freehold land admeasuring approximately 9.24 acres situated at Kandivali (East), Mumbai, on which no operations of the company are being carried out, to Mahindra Lifespace Developers (MLDL), a listed subsidiary of the company or to any of the subsidiaries or affiliates of MLDL.
As no operations of the Auto and Farm Sector of the Company (AFS) are carried out on the land being sold, the sale of the said land will not have any impact on the operations of AFS carriedout at Kandivali, Mumbai, which will continue as hitherto.
This new project is Mahindra Lifespaces’ second residential development in Kandivali after its successful ‘Mahindra Roots’ project and will offer approximately 1 million sq. ft. of carpet area. The project is expected to be launched in FY 2023.
M&M is the flagship company of the Mahindra Group, a multinational conglomerate based in Mumbai, India. Amongst the various business interests of its parent group, the company is mainly involved in the automobile manufacturing. It is one of the leading auto companies of India.
| Company Name | CMP |
|---|---|
| Tata MotorsPassenger | 360.15 |
| Maruti Suzuki | 13452.25 |
| Mahindra & Mahindra | 3199.35 |
| Hyundai Motor India | 1901.25 |
| Mercury Metals | 35.39 |
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