Shares of Mahindra Lifespace Developers Ltd. surged on Monday following the announcement of the second phase of its industrial parks project in Tamil Nadu, under the brand “Origins by Mahindra.” The project is being developed in partnership with Japan-based Sumitomo Corporation, marking a key milestone in promoting industrial growth in the region.
As of 9:18 am the shares of Mahindra Lifespace Developers were trading 3.46% higher on NSE.
Key Highlights:
- Project Expansion: The second phase will involve an investment of ₹225 crore, jointly funded by Mahindra World City Developers Ltd. (MWCDL) and Sumitomo Corporation in proportion to their shareholding.
- Focus Areas: The expansion aims to acquire and develop land and associated infrastructure to create an advanced industrial ecosystem.
- Strategic Importance: The project, located in Mahindra Industrial Park Chennai Limited (MIPCL), currently spans 307 acres and hosts several global and domestic companies.
Leadership Commentary:
Mr. Amit Kumar Sinha, Managing Director & CEO of Mahindra Lifespace Developers Ltd., emphasized the company’s commitment to driving economic growth through sustainable industrial clusters. He stated, “The partnership with Sumitomo Corporation reflects our dedication to enabling industries to thrive sustainably while fostering progress.”
