Mahindra Lifespace Developers to Transfer Residential Project to Subsidiary for Rs. 100 Crores

Mahindra Lifespace Developers Ltd. has approved the transfer of a residential real estate development project in Bengaluru, known as the 'Alembic Undertaking', to its subsidiary, Mahindra Blossom Developers Limited (MBLDL), for a consideration not exceeding Rs. 100 crores. The transfer is proposed to be on a slump sale basis, without assigning individual values to relevant assets and liabilities. The transaction is subject to necessary approvals and customary condition precedents, and is expected to be completed before 31st March 2026. MBLDL is a wholly owned subsidiary of the Company and is engaged in the business of residential real estate.