New Delhi, March 19 Mahindra Lifespace Developers Ltd, a real estate firm, expects to generate approximately ₹3,000 crore in revenue from its new housing project in Mumbai.
In a regulatory filing on Thursday, the company announced the launch of the first two phases of a mixed-use project, "Mahindra Rainforest," on LBS Marg, Kanjur, Mumbai.
"Spanning 25.47 acres, the project is one of the largest developments in Mumbai's central suburbs and is envisioned as an integrated lifestyle destination. The residential launch phases have an estimated Gross Development Value (GDV) of approximately ₹3,000 crore," it added.
The GDV refers to the total sales value of units launched in this project.
Mahindra Lifespace Developer Ltd, the real estate and infrastructure development arm of the Mahindra Group, did not mention the investment required to develop this project.
The company's development footprint spans 53.65 million sq ft (saleable area) of completed, ongoing, and forthcoming residential projects across seven Indian cities. It also has over 5,000 acres of ongoing and forthcoming projects under development/management at its integrated developments/industrial clusters across four locations.