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Mahindra Lifespace pours Rs 1000 crores on upcoming ventures

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Mahindra & Mahindra’s realty limb Mahindra Lifespace Developers is investing Rs. 1,000 Crores in 4 housing ventures in different parts of the country in the coming 3 years. Mahindra Lifespace Developers Managing Director and CEO, Pawan Malhotra said to www.propertykhazana.com that, “We are proposing to develop 4 residential ventures, 2 each in the NCR and in Maharashtra. We are investing around Rs. 1,000 Crores for developing these ventures.” Company will develop 4 housing ventures, providing to average and higher sector of the society at Mumbai Pimpri near Pune, Faridabad and Palam Vihar in Delhi.
Mahindra company’s Senior Manager of Marketing & Sales Ajay S Dabas said to www.propertykhazana.com that, “The upcoming ventures will be executed in 3 years and the company has already initiated the Faridabad and Mumbai ventures. Altogether, company will build up around 1,000 residential units in all the 4 proposed ventures." The company is looking for an income of Rs. 1,000 Crores in the coming 5 years and it has set record with turnover of Rs. 163 Crores for Fiscal year 2007. Still it has not yet announced the financial information for the retiring fiscal. The totally possessed auxiliary of Mahindra & Mahindra has completed ventures in Mumbai, Pune, and Bangalore and in NCR, also at present developing many ventures across the country.
Source: NBTVLIVE

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