Mahindra Lifespaces posts 66% higher H1 pre-sales and maps its next launches

Pre-sales rise and a launch calendar takes shape

Mahindra Lifespace Developers presented its second quarter and first half results for FY27 on 22 October 2026, with residential pre-sales as the main highlight. The company booked INR 1,988 crore of residential pre-sales in the first half, up 66% from INR 1,200 crore in the same period a year earlier. Including IC&IC sales, consolidated sales for the half reached INR 2,101 crore, a 48% rise on the prior-year period.

The presentation also set out the near-term pipeline. Rivenza in Mahalunge, Pune, is slated for a December step, WestEra in Santacruz West, Mumbai, is targeted within two to three months, a redevelopment project at Sai Baba Nagar in Borivali awaits approvals, and two further projects are planned for the second half of the fiscal year.

Key figures from the quarter

Residential pre-sales in the second quarter stood at INR 1,063 crore on a saleable area of 0.69 million sq ft, a 41% increase year on year. Other headline numbers from the results include:

• Gross development value additions of INR 7,100 crore in the first half of FY27, against INR 5,200 crore in the first half of FY26
• Revenue from operations of INR 32.42 crore in the second quarter on an Ind AS basis
• Consolidated net debt to equity of negative 0.28, reflecting a net cash position
• A residential pre-sales target of INR 4,500 crore to INR 5,000 crore for FY27

Management attributed the strong demand to recent launches such as Rainforest, BeaconHill and Citadel Phase 3, which it said drew robust buying interest at premium price points.

WestEra in Santacruz West

WestEra is a redevelopment project. On the earnings call, Vimlendra Singh, Chief Business Officer (Residential), addressed the timing of the launch. Management said it is aiming for the end of the coming quarter for WestEra, and that the end of the third quarter is when the project should secure a significant portion of its approvals.

The company has received the initial development permission and is moving through the next stage of approvals. The development agreement for the project has been concluded and registered. Management also said it is working to bring forward a project that had earlier been shown for FY2029, though the presentation did not tie that timeline to a specific site.

In January 2023, the company had been selected as preferred redevelopment partner for two adjacent residential societies in Santacruz West, with revenue potential put at around INR 500 crore at that time.

The Santacruz West location

Santacruz West sits in Mumbai's western suburbs, a residential neighbourhood that sits within easy reach of the Bandra-Kurla Complex business district and the international airport. Swami Vivekanand Road provides the main east-west link, and the Santacruz suburban railway station on the Western line serves commuters heading into central Mumbai. Management described the location as a strong one for a residential development. The company already has an earlier project in the same micro-market, Mahindra Fairwinds.

The developer behind the launches

Mahindra Lifespaces is part of the Mahindra Group and operates residential brands including Mahindra Lifespaces and Mahindra Happinest, alongside integrated cities and industrial clusters under Mahindra World City and Origins by Mahindra. The company reports about 53.30 million sq ft of saleable area across completed, ongoing and forthcoming residential projects in seven Indian cities.

In Mumbai, the company has developed more than 10.77 million sq ft across the Mumbai Metropolitan Region, according to a January 2023 report. Its redevelopment activity has continued to grow, with three more societies added to its Mumbai portfolio in September 2026. Earlier redevelopment work includes a 3.08-acre site in Mulund West with an estimated development value of around INR 1,250 crore, announced in June 2025, and a Lokhandwala Complex project in Andheri West with a development value of about INR 950 crore, announced in February 2025.

What comes next

WestEra is targeted to launch within two to three months of the results presentation, with approvals expected by the end of the third quarter of FY27, which falls in December 2026. The Sai Baba Nagar redevelopment in Borivali is expected to receive its approvals by the end of the third quarter or in mid-fourth quarter. Navrat is a greenfield project expected in the second half of FY27.

Rivenza in Mahalunge, Pune, was launched in early October 2026, with an overall gross development value of around INR 3,500 crore across 13.46 acres. Its first phase introduces 1,236 residences in 2, 3 and 4 BHK configurations. The company has indicated a further step for the project in early December.

Management has said these timelines depend on approvals and launch readiness, so the schedule for each project will be shaped by how quickly those conditions are met.