Mahindra Lifespace strengthens on the buzz of acquiring 12-acre land in Gurgaon

26 Feb 2014 Evaluate

Mahindra Lifespace Developers is currently trading at Rs. 354.00, up by 3.10 points or 0.88% from its previous closing of Rs. 350.90 on the BSE.

The scrip opened at Rs. 355.00 and has touched a high and low of Rs. 356.65 and Rs. 353.15 respectively. So far 563 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 472.00 on 18-Jul-2013 and a 52 week low of Rs. 327.20 on 11-Sep-2013.

Last one week high and low of the scrip stood at Rs. 363.50 and Rs. 350.00 respectively. The current market cap of the company is Rs. 1445.89 crore.

The promoters holding in the company stood at 51.04% while Institutions and Non-Institutions held 32.32% and 16.44% respectively.

Mahindra Lifespace Developers has reportedly acquired 12-acre land parcel worth Rs 472 crore in Gurgaon from private equity fund Ireo. The company has acquired the land to develop residential projects.

The project is to be developed by the joint venture that Mahindra Lifespace has with Standard Chartered Real Estate, the private equity arm of Standard Chartered Bank. Both the entities plan to develop projects through Watsonia Developers, in which Mahindra Lifespace and SCM hold equal stakes.

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.

Mahindra Life. Dev Share Price

432.65 7.20 (1.69%)
Jul 05, 18:01 View Price Chart
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