Mahindra Lifespace Developers Limited — Board Meeting, 13-05-2025: Outcome of Board Meeting

Mahindra Lifespace Developers has announced a board meeting on 13th May 2025 and approved raising up to Rs 1,500 Cr through a rights issue, replacing the earlier plan from February. The funds will be used to cut debt and support growth. The company is doubling down on premium and mid-premium homes in Mumbai, Pune, and Bengaluru, with FY25 gross development value (GDV) jumping to Rs 18,100 Cr from Rs 4,400 Cr in FY24. Net debt-to-equity stands comfortable at 0.39x. Details on issue price and record date to follow.