Mahindra Lifespace Developers Ltd. today announced that it has acquired 5.38 acres of land in the premier neighborhood of Wagholi in Pune. The land is estimated to have a development potential of over 1.5 million square feet of saleable area.
Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said, "Wagholi is a high potential micro market of Pune. It has a growing demand for high-quality residential spaces, ready to be absorbed. The proposed land parcel is located within a well-planned Kharadi-Wagholi micro-market, boasting a robust social amenities and civic infrastructure. This land acquisition reaffirms our commitment to Pune and is aligned with our strategy to further solidify our presence in the city's pivotal micro-markets."
The site is strategically situated in the upscale East Pune locality, surrounded with well-developed social infrastructure that includes top educational institutes such as Wellington College International, Euro School, and Poddar International school. Moreover, this project is located near major commercial hubs, such as the World Trade Centre and EON Free Zone. Additionally, it also enjoys close proximity to IT hubs in Viman Nagar, Magarpatta, and Hadapsar.
Shares of Mahindra Lifespace Developers Limited was last trading in BSE at Rs. 523.15 as compared to the previous close of Rs. 528.05. The total number of shares traded during the day was 19313 in over 1498 trades.
The stock hit an intraday high of Rs. 534.95 and intraday low of 521.05. The net turnover during the day was Rs. 10162986.00.