Mahindra Group targets growth in Holidays and Lifespaces sectors

Mahindra Group has announced a new strategic focus on its Holidays and Lifespaces sectors to accelerate growth and capture operational synergies. The move targets two of the group’s identified ‘Growth Gems.’

Mahindra Lifespaces has reported significant expansion, with residential pre-sales growing five-fold from approximately Rs 700 crore in FY20 to Rs 3,500 crore. The company’s gross development value rose from Rs 8,000 crore to Rs 50,000 crore over the last three years, and the business transitioned from losses to a profit of approximately Rs 300 crore in the previous financial year.

Mahindra Holidays is also expanding its footprint, moving from vacation ownership into leisure hospitality. The business currently serves over 3 lakh vacation ownership members and has added more than 1,700 rooms, including the recent launch of Mahindra Signature Resorts in the luxury segment.

To lead this new sector, Amit Kumar Sinha, the current MD and CEO of Mahindra Lifespace Developers Limited, will be appointed as CEO of the Holidays and Lifespaces sector. This appointment will take effect once a new CEO is named for Mahindra Lifespaces.