Mahindra Lifespace Developers Ltd closed higher on Thursday after the company reported sales of over ₹800 crore in its residential project in Mumbai, Mahindra Vista, within three days of launch.
In a filing to the stock exchanges, the real estate arm of the Mahindra Group said that Mahindra Vista is India’s first net-zero waste and energy residential project. It generates 100% of its power supply from renewable energy sources and is expected to save 18 lakh kWh of energy through active and passive energy conservation methods, the company informed the bourses.
The project by Mahindra Group's real estate arm is expected to divert 8 lakh kg of waste away from landfills.
Mahindra Vista deploys various water conservation measures including low-flow fixtures, treating and reusing sewage wastewater, and an efficient irrigation system that will save 53% of water from external sources.
The residential project also includes a dense urban forest with over 1,000 indigenous trees.
Shares of Mahindra Lifespace Developers stock touched an intraday high of ₹614.95 share on BSE before closing 0.46% higher at ₹604.3 per piece.
“We are delighted with the success of Mahindra Vista and the growing preference for sustainable living among our customers in Mumbai. This achievement highlights the increasing awareness and desire among homebuyers to contribute to a greener future. As a city, Mumbai emits 23 million tons of CO2 annually. We recognise the urgency to address climate change and the role buildings play in carbon emissions,” said Vimalendra Singh, Chief Business Officer (Residential)—West, Mahindra Lifespace Developers Ltd.
Singh added that the project is a step ahead in the company's pledge of only Net Zero buildings from 2030 to meet Mahindra Group's 2040 carbon neutrality goals.
Spread over 7.74 acres, Mahindra Vista has a total landscaped greens of 3.5 acres, including 1.6 acres on the podium top and a biophilic-roof clubhouse.
The projects offer residences ranging from 1 to 4 BHKs. The first phase of Mahindra Vista consists of 3 towers, with a total of 601 units in various typologies.
Mahindra Vista offers its residents a view of the Sanjay Gandhi National Park.
(Edited by : Ajay Vaishnav)
First Published: Feb 22, 2024 5:56 PM IST
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