Mahindra Lifespace Developers share news: Shares of the Mahindra group realty company Mahindra Lifespace Developers (MLDL) in Friday's trade rallied up to 5 per cent at the day's high to Rs 377.9 apiece. The sharp spurt in the company's stock price came after the company has been chosen for the redevelopment of St. Pius Ten CHS, Mulund, Mumbai. The project  would offer a estimated gross development value of approximately Rs 1,250 crore.

As per the release,, the real estate and infrastructure development arm of the Mahindra Group, today announced its appointment as the preferred developer for the redevelopment of a premium housing society in Mulund (West), Mumbai. The project spans across a 3.08-acre land parcel.

Mahindra Lifespace share price performance

In the past one year, the stock has largely underperformed with its stock having declined as much as 36 per cent. In comparison, Nifty has gained over 7 per cent.