On Monday, 7th July, shares of Mahindra Lifespace Developers Ltd climbed 1.62% to trade at ₹367.40 on the NSE, gaining ₹5.85 from the previous close of ₹361.55. The stock moved higher after the company announced the launch of a new residential tower at its Mahindra Citadel project in Pimpri-Chinchwad, Pune, with a gross development value (GDV) of approximately ₹2,500 crore.
On 4th July, Mahindra Lifespaces informed exchanges about the launch of Mahindra Citadel – Tower L, which will feature premium 1 BHK homes catering to young professionals, nuclear families, and first-time homebuyers. The project is part of a larger 9.66-acre development that has already seen robust demand in its earlier phases.
The tower, located next to the Sant Tukaram Metro Station, offers thoughtfully designed homes with IGBC Gold pre-certification, energy-efficient features, landscaped green zones, a clubhouse, jogging track, and other amenities. With proximity to the Old Mumbai-Pune Highway, residents benefit from excellent connectivity and access to schools, hospitals, and entertainment hubs.
Vimalendra Singh, Chief Business Officer (Residential), stated that the strong demand at Mahindra Citadel reinforces their confidence in Pimpri-Chinchwad as a high-potential market. He added that the new tower expands the company’s offerings to a wider demographic of homebuyers.
Mahindra Lifespaces, a part of the Mahindra Group, has a development footprint of 47.56 million sq ft of residential projects across seven Indian cities and over 5,000 acres under integrated developments and industrial clusters. The company aims to deliver only Net Zero homes from 2030 onwards and is actively pursuing sustainability goals.
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