Mahindra Lifespace Developers is doubling down on premium housing, betting that affluent buyers will keep driving demand in India's premium housing market. The strategy marks a decisive shift away from the affordable housing segment the company had once pursued, and underpins its most ambitious annual pre-sales target yet of ₹4,500-5,000 crore in FY27.
The Mahindra Group's real estate arm is also expanding its pipeline of high-value projects, returning to south Mumbai after 25 years and preparing to enter senior housing as it chases ₹10,000 crore in annual sales bookings by FY30.
Moving upmarket
Mahindra Lifespace re-entered south Mumbai in FY27 with Mahindra BeaconHill, an ultra-premium residential project in Mahalaxmi with a gross development value (GDV) of ₹1,650 crore. Its earlier projects in the micro-market include Mahindra Heights in Tardeo, launched 25 years ago, along with Belvedere Court and Great Eastern Royale.
The Mumbai-based developer has also launched two more projects in Pune and Mumbai, with five more in the pipeline. Its FY27 launch pipeline across Mumbai, Bengaluru and Pune has a combined GDV of ₹10,000 crore.
“The demand for good quality housing in urban centres is going up, so is affordability. So, there is a way for us to actually tap into that demand. We had taken a detour towards affordable housing, but then we decided not to pursue that. Systematically, we are moving up the value chain,” Amit Kumar Sinha, managing director and chief executive of Mahindra Lifespace Developers, told Mint.
The move also reflects the economics of the business. Premium projects typically offer higher margins, while land costs in cities such as Mumbai naturally translate into higher ticket sizes. Much of the company's current inventory is priced between ₹2 crore and ₹4 crore, but projects in premium locations, particularly Mumbai, will carry price tags of ₹5-10 crore.
“We are anticipating 14x growth in sales by FY30 from where we were in FY20 and we have already achieved a part of that. But we are chasing profitable growth,” Sinha said.
The company expects residential pre-sales to rise to ₹4,500-5,000 crore in FY27 from ₹3,405 crore in FY26, as it works towards its FY30 target of ₹10,000 crore in annual sales bookings.
Next growth bets
Mahindra Lifespace plans to enter the senior housing segment, where demand has picked up in recent years, with launches planned next year.
A recent report by property advisory JLL and the Association of Senior Living India highlighted the potential of the senior living sector, projecting a 300% growth to reach $7.7 billion by 2030.
The developer also expects to deepen partnerships with global investors.
“We will also see a lot more global partnerships. We started the journey with Sumitomo many years ago and have expanded that. Our desire is to bring global knowledge and global learning through our global partners,” Sinha said.
In July, the company and Japan's Sumitomo Corp. expanded their partnership to develop the next phase of Origins by Mahindra, an industrial and logistics park in Chennai. In February, Mahindra Lifespace announced a long-term joint venture with Japan's Mitsui Fudosan Group, with Mahindra Blossom, a residential project in Bengaluru, becoming the first development under the partnership.
The company also plans to begin residential development on more than 200 acres within Mahindra World City Jaipur. The first phase of the township, focused primarily on premium plotted developments, could be launched in FY27 or FY28, subject to approvals.
Mahindra Lifespace's portfolio spans premium residential projects, value homes under the Mahindra Happinest brand, and integrated cities and industrial clusters under the Mahindra World City and Origins by Mahindra brands.
The company reported a 67% increase in April-June quarter net profit to ₹85.5 crore, while consolidated revenue rose to ₹962 crore from ₹32 crore a year earlier.
The company's premium push comes as demand for high-end homes remains resilient. According to property advisory Savills India's July report, the country's premium residential market remained broadly balanced in the first half of 2026, with average capital values across major cities continuing to rise from a year earlier.
Sustained demand from affluent homebuyers, high-net-worth individuals, non-resident Indians, entrepreneurs and corporate professionals, along with a preference for branded, amenity-rich developments, continued to support the market, the report said.
Shveta Jain, managing director, residential services at Savills India, said, “Buyer preferences are becoming increasingly discerning, with greater emphasis on location, product quality and developer credibility, signalling a shift towards quality-led demand.”
“We expect the market to sustain measured price appreciation, with premium residential real estate remaining a preferred long-term asset class, supported by disciplined pricing, calibrated supply and buyers' inclination toward premium residential properties,” Jain added.