Mahindra Lifespace Developers Limited — Important, 27-12-2024: Disclosure of material issue

Mahindra Lifespace Developers has completed the sale of commercial property located in Delhi, measuring approximately 560.88 square meters, for a total consideration of Rs 16.50 crores. The property generated rental income of Rs 0.66 crore in the last fiscal year. This transaction involves Ahuja Infra Projects Private Limited, a company engaged in contractual construction and rental businesses. Additionally, the company previously sold another property of approximately 2,144 square meters for Rs 55.95 crores, generating the same rental income over the last financial year. Both transactions do not involve related parties and have been executed at arm's length. These sales reflect a strategic move to optimize the company's asset base, suggesting a positive outlook for further operational efficiencies. Shareholders should watch closely for potential growth stemming from these divestments.