3. GROWTH GEMS Growth Gems are businesses within the Group with strong potential for significant growth and scale. These ten businesses have a strong right to win within their sectors and align with India’s growth story, making them a strategic fit within the Group’s bold vision of ‘Delivering Scale’. They are expected to be future value creators with a path to build the next set of multi-billion-dollar enterprises within the Group. Over the last year, six of these have been identified as ‘Scalable Growth Gems’ which have demonstrated a clear competitive advantage and are witnessing positive momentum with a path to achieving more than $2 Billion of valuation by FY30. Similarly, four have been identified as Emerging Growth Gems, which have a path to $1 Billion of valuation by FY30. By nurturing these Scalable Growth Gems and continuing to invest in the capabilities of the Emerging Growth Gems, we are committed to transforming these businesses into major drivers of the Group’s future. SCALABLE GROWTH GEMS MAHINDRA LIFESPACES Mahindra Lifespaces (MLDL), a mid-premium / premium real estate developer, is committed to sustainable urbanisation through its residential and industrial developments. MLDL’s total residential development footprint spans ~48 Mn sq. ft. On the industrial side, it has presence of over 5,500 acres across Jaipur, Chennai, Pune and Ahmedabad. MLDL is committed to integrating sustainability into every aspect of its projects. As a pioneer in Net Zero homes in India, MLDL has three of its recent launches as ‘Net Zero Energy and Waste’ projects. Strategic Imperatives MLDL has a bold vision to profitably scale up Residential business by 14x in 10 years from FY20 to FY30. This translates to residential pre-sales of Rs. 10,000 crores by FY30. This ambition is being driven by: • Well-engineered portfolio choices with deep focus on three core markets and mid-premium and premium segments. • Gross Development Value (GDV) addition of Rs. 45,000 crores. • Robust business development engine. • Superior customer experience driven by customer centric innovation. • Project execution excellence with ‘first time right’ approach. • Value maximisation from the industrial segment. • Financial discipline with rigorous IRR tracking and prudent capital allocation. MLDL’s ambition is built on a strong foundation in a high-quality talent model and a high-performance culture, enabled by technology. Key Highlights • With FY25’s Gross Development Value (GDV) addition of Rs. 18,100 crores, MLDL has added Rs. 39,000 crores of GDV as of March’25. This augurs well for MLDL to achieve its long-term vision as there is high visibility in the sales plan with 70-80% of required land already secured. • As part of prudent capital allocation, MLDL is prioritising high-impact projects and land acquisitions / redevelopments in MMR, Pune and Bengaluru. • MLDL announced an Rs. 1,500 crores rights issue aimed at raising growth capital for future acquisition and debt reduction. Achievements in FY25 ₹18,100 Cr. GDV additions includes largest ever acquisition of 36.9 acre land in Bhandup ₹2,804 Cr. Residential pre-sales up 20% YoY, driven by successful launches such as Vista Phase 2, IvyLush, Zen ₹832 Cr. Highest-ever operating cash flows up 30% YoY, healthy debt to equity ratio of 0.39 Rise To Create Value | 25 MAHINDRA & MAHINDRA LTD.
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