Mahindra Lifespace Developers Ltd. informed the exchanges Monday that pursuant to the application filed by Mahindra World City Developers Ltd (MWCDL), a subsidiary of the Company and the developer of the SEZ at Mahindra World City, Chennai, the Ministry of Commerce and Industry (MOCI) has granted approval to MWCDL for partial denotification of 55.90 hectares (De-notified Land) in the non-processing area.
This De-notified Land is a part of approx 89 hectares which was leased earlier to another subsidiary of the Company, Mahindra Integrated Township Ltd for undertaking residential developments in the part of non-processing area.
Mahindra Lifespace Developers is trading higher by 1.5% in trade today.
Stock view:
Mahindra Lifespace Developers Ltd ended at Rs349.80 down by Rs6.05 or 1.7% from its previous closing of Rs355.85 on the BSE.
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