Shares of Mahindra Lifespace Developers Ltd. declined on Wednesday, December 3, after the company said it has secured a new redevelopment mandate in Matunga with a gross development value of ₹1,010 crore.

The company said it has been selected as the preferred development partner for a major residential redevelopment project, which spans across 1.53 acre.

Mahindra Lifespace said the upcoming development would transform the existing housing cluster into a modern community featuring improved infrastructure, contemporary design, and enhanced lifestyle amenities. The location offers seamless connectivity to key social and business hubs, it said.

It is a well-established residential catchment in proximity to Shivaji Park, leading education institutions, healthcare facilities, retail destina

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