Mahindra Lifespaces plans aggressive expansion

Mahindra & Mahindra group company, Mahindra Lifespaces has designed an aggressive expansion plan. In addition to green field projects the expansion plan includes inorganic growth plans too.

The company is planning four new big projects. These projects will be based on Mahindra World City format. Two of the projects are expected to be launched by March 2014. For green field projects Mahindra Lifespaces has started land acquisition in Maharashtra and in some other states. Mahindra Lifespaces is also in talks with few troubled SEZ developers for acquisition of such projects. Each new project requires 2000-3000 acres of undisputed land. Arun Nanda, Chairman, Mahindra Lifespaces said in an exclusive interview with Zee Media, that the company is eyeing inorganic growth for expansion of its ambitious Mahindra World City format. The company is in talks with few troubled SEZ developers for acquisition of SEZ projects.

Mahindra Lifespaces has also chalked out three pronged funding plans. The company will be utilizing most of the QIP money of Rs 400 crore. This money is expected to come in the pockets of company in November. Company is also exploring PE route for funding and has good experience with Standard Chartered for PE. The company may form a joint venture with owners of troubled SEZs.

Mahindra Lifespaces operates two Mahindra World City projects, one in Jaipur while another is in Chennai. This format is known for high class infrastructure with plug and play facilities for companies to set up plants or to start business.