Mahindra Lifespace Developers Limited, a leading player in India’s real estate sector, announced on September 18, 2025, that its Board of Directors has approved, subject to shareholder approval, the acquisition of the entire stake held by Actis Mahi Holdings Singapore Private Limited in Mahindra Homes Private Limited (MHPL). Following completion of this acquisition, MHPL will become a wholly owned subsidiary (WOS) of Mahindra Lifespace Developers Limited (MLDL).

About Mahindra Homes Private Limited

MHPL, incorporated on June 2, 2010, is a real estate company engaged in residential development. The company was a joint venture between MLDL and Actis, with a 74.35:25.65 equity split prior to this acquisition. MHPL has successfully completed notable projects, including “Windchimes” in Bengaluru, spanning approximately 5.90 acres, and is currently executing the final phase of the ‘Luminare – Phase 3’ project in Gurgaon.

The turnover of MHPL over the last three financial years has been as follows:

• FY22-23: Rs. 8.81 crore

• FY23-24: Rs. 6.56 crore

• FY24-25: Nil

This acquisition consolidates MLDL’s control over MHPL and strengthens its presence in the residential real estate segment.

Nature and Structure of Acquisition

The proposed acquisition is categorized as a Related Party Transaction but will be conducted on an arm’s length basis. The promoters, including Mahindra & Mahindra Limited, do not have any direct interest in the acquisition beyond their existing indirect shareholding in MHPL.

The acquisition consideration will be cash-based, and the total cost for acquiring the stake from Actis is not expected to exceed Rs. 90 crore, which includes:

• 2,05,628 Series A Equity Shares (voting rights ratio 75:25)

• 11,043 Series B Equity Shares (economic rights ratio 50:50)

• 1 Compulsorily Convertible Preference Share (0.01%)

After the acquisition, MLDL’s shareholding in MHPL will increase from 74.35% to 100%, giving it full operational and strategic control over the subsidiary.

Regulatory and Shareholder Approvals

Currently, no governmental or regulatory approvals are required for this acquisition. However, the transaction is subject to approval by MLDL shareholders. The completion is expected within three months from the execution of the Share Purchase Agreement (SPA), subject to the fulfillment of mutually agreed terms and conditions.

Strategic Rationale and Impact

By acquiring the remaining stake, MLDL will have full control over MHPL, enabling better operational integration, streamlined decision-making, and enhanced shareholder value. The move also strengthens MLDL’s position in the residential real estate sector, particularly in high-potential urban markets like Bengaluru and Gurgaon.

The acquisition aligns with MLDL’s broader strategy of consolidating its subsidiaries and reinforcing its brand presence in India’s premium residential market. The company remains committed to compliance with SEBI Listing Regulations, ensuring full transparency and timely updates to its stakeholders.

Conclusion

The Board meeting of MLDL commenced at 12:38 pm and concluded at 1:00 pm on September 18, 2025. The company has also made this disclosure available on its investor relations website, demonstrating its commitment to transparency and regulatory compliance. Once completed, this acquisition will mark a significant milestone for MLDL, consolidating its subsidiary portfolio and enabling more focused growth in the residential segment.

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