Mahindra Lifespace JV with Sumitomo to expand Chennai industrial park Phase 2B

Mahindra Lifespace Developers, through its material subsidiary MWCDL and step-down subsidiary MIPCL, signed a Second Supplemental Agreement with Sumitomo Corporation, Japan on 22 July 2026. The deal expands their existing joint venture to develop Phase 2B of an industrial park in Chennai, Tamil Nadu. This builds on the 2015 JV and the 2024 First Supplemental Agreement that covered Phases 1 and 2A. Mahindra Lifespace holds 89 percent of MWCDL, and MIPCL is owned 60 percent by MWCDL and 40 percent by Sumitomo. MWCDL retains majority board nomination rights in MIPCL.