Mahindra Lifespace Developers likely to raise Rs 250 crore

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.