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

Mahindra Lifespace Developers Ltd. has announced that its Board of Directors has approved the transfer of a residential real estate development project in Bengaluru, named 'Alembic Undertaking', to its subsidiary, Mahindra Blossom Developers Limited (MBLDL), for a net amount not exceeding Rs. 100 crores. The transaction is expected to be completed before 31st March 2026, subject to necessary approvals and customary condition precedents. The Company will also transfer 49% equity stake held in MBLDL to Mitsui Fudosan (Asia) Pte. Limited (MFA), and both the Company and MFA will subscribe to the rights issue of equity shares of MBLDL in the ratio of 51:49, respectively.