Mahindra Lifespace Developers rises on launching India's First Metaverse Home-Buying Experience

At 12:30 pm, Mahindra Lifespace Developers shares were trading at Rs 512.8, up by 2.52% from its previous closing of Rs 500.2 on the BSE.

Mahindra Lifespace Developers (MLDL) has unveiled India’s first home-buying experience on the Metaverse with the launch of Bastion at Mahindra Citadel, which is the Phase 2 of the project. This milestone was revealed via a first-of-its-kind drone show, which culminated in a QR code in the skies of Pune, which led the audience to the Metaverse experience.

The project was unveiled at the project location in Pimpri-Chinchwad, where over 500+ lit drones presented a spectacular show including visuals of key features of the project like the ecotone design, the home automation features and unveiling of the Metaverse experience. The drones finally formed a QR code that could be scanned by the audience to enter the Metaverse experience of Mahindra Citadel. In a first-of-its-kind unique experience, users are transported to their future homes, even before they make their decision to purchase. Users can also interact with elements within the homes and design interiors to their liking.

Building on the resounding success of Phase 1 launched in November 2022, Bastion at Mahindra Citadel which spans 9.66 acres, featuring a carefully crafted selection of premium 3 & 4 BHK homes. The development offers a diverse range of amenities, thoughtfully designed to enhance the physical, mental, and social well-being of the residents, promoting a balanced and vibrant lifestyle. Homes at Mahindra Citadel are pre-certified IGBC gold rated and have various design and process interventions for energy efficiency, and waste management.

Incorporated in1999, Mahindra Lifespace Developers is the real estate and infrastructure development company and a pioneer of sustainable urbanization in India. The company is engaged in the business of development of the real estate, residential facilities, commercial complexes and through its subsidiary companies is involved in various infrastructure projects including the development of SEZs and Industrial Clusters.

On Friday, the stock opened at Rs 500.00, with a high and low of Rs 513.70 and Rs 500.00, respectively. The BSE group ‘A’ stock, with a face value of Rs 10, has a 52-week high and low of Rs 599.00 and Rs 316.10. In the past week, the scrip reached a high of Rs 523.65 and a low of Rs 493.45. The current market cap of the company is Rs 7,887.74 crore. The promoters hold 51.19% of the company, while institutions and non-institutions hold 32.05% and 16.77%, respectively.

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