Mahindra Lifespace Developers Acquires Shreyas Stones for ₹199 Crore, Unlocking ₹1,100 Crore Development Potential, ET RealEstate

NEW DELHI: Mahindra Lifespace Developers has executed a share purchase agreement with Shreyas Stones (SSPL),
whereby shareholders of SSPL have agreed to sell 100 per cent of the equity shares to the company.

The company would be acquiring 10,000 equity shares having face value of ₹10 each at a premium of ₹198,990 each aggregating to ₹199 crore.

This acquisition unlocks a development opportunity with an estimated gross development value (GDV) of ₹1,100 crore.

Amit Kumar Sinha, managing director & CEO of the company said, “With this parcel adjoining our existing land, we now have the opportunity to create a unified, high-quality premium development with a combined GDV potential of approximately ₹2,100 crore.”

SSPL owns approximately eight acres 31.5 guntas land in Doddajala Hobli, Bengaluru, which could potentially be developed.

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