Mahindra Lifespace Acquires Shreyas Stones for ₹1,100 Cr GDV Project
Mahindra Lifespace Expands in North Bengaluru with ₹1,100 Crore GDV Acquisition
Mahindra Lifespace Developers Ltd. announced the signing of a Share Purchase Agreement (SPA) with Shreyas Stones Private Limited (SSPL), whereby the shareholders of SSPL have agreed to sell their entire stake (100% of the equity shares). The company will acquire 10,000 equity shares, having face value of ₹10 each, for ₹199 crore.
Strategic Location in Airport Corridor
The company has acquired Shreyas Stones Pvt Ltd (SSPL), which owns 8.79 acre land parcel in Bengaluru. SSPL possesses approximately eight acres and 31.5 guntas of land in Doddajala Hobli, Bengaluru, which holds potential for development. This location places the asset in North Bengaluru's emerging airport corridor, a region marked by rapid infrastructure advancement and residential expansion.
The upcoming Doddajala metro station on the Blue Line is expected to further strengthen last-mile connectivity once operational. The region's proximity to the Kempegowda International Airport, which is approximately 10-15 kilometers away, adds to its potential as a residential and commercial destination. The corridor has attracted multiple major developers in recent years, positioning it as one of Bengaluru's most promising growth zones for large-format residential developments.
Scale and Combined Development Potential
This acquisition unlocks a premium development opportunity with an estimated Gross Development Value (GDV) of INR 1,100 crore. More significantly, with this parcel adjoining our existing land, we now have the opportunity to create a unified, high-quality premium development with a combined GDV potential of approximately ₹2,100 crore. This consolidated approach allows Mahindra Lifespace to design a cohesive, large-scale community rather than fragmented individual projects.
Strategic Rationale
Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said, "This acquisition marks a key milestone in strengthening our presence in North Bengaluru, one of the city's most promising real estate corridors. The move aligns with broader market trends: the airport corridor has evolved from an emerging area to an active investment destination, with institutional land acquisition accelerating in the past two to three years.
About Mahindra Lifespace Developers
Established in 1994, Mahindra Lifespace Developers Ltd. ('Mahindra Lifespaces') brings the Mahindra Group's philosophy of 'Rise' to India's real estate and infrastructure industry through thriving residential communities and enabling business ecosystems. The Company's development footprint spans 53.65 million sq. ft. (saleable area) of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5000 acres of ongoing and forthcoming projects under development / management at its integrated developments / industrial clusters across four locations.
As a pioneer in Net Zero homes in India, Mahindra Lifespaces is committed to building only Net Zero homes from 2030 onwards. With a 100% Green portfolio since 2014, the Company is working towards carbon neutrality by 2040 and actively supports research on green buildings tailored to climatic conditions in India. The company's Bangalore portfolio includes established projects in South Bengaluru (Hosur Road, Kadugodi) and newer launches in the IT corridor; this North Bengaluru acquisition extends its geographic reach into a distinct micro-market segment anchored by proximity to the airport and emerging metro infrastructure.