| Residential Real Estate | Development and sale of premium, mid-premium, and affordable housing projects across major Indian cities. | Strong brand, deep market knowledge, sustainability leadership, large land bank, strategic partnerships. | B2C home buyers; urban middle and upper-middle class segments in Mumbai, Pune, Bengaluru, Chennai and NCR. | Premium and mid-segment projects and joint development ventures have higher margins. | 2804 | 93 | Sales revenue from developed residences, joint ventures, and project management fees. | One-time purchase sales, mostly upfront with staged payments linked to project milestones. | Urban housing demand growth, strategic launches in growth markets, government housing incentives. | Mahindra Happinest, Mahindra Citadel, Bloomdale, Eden, Vivante |
| Integrated Cities & Industrial Clusters (IC&IC) | Development, leasing and operation of Special Economic Zones, multi-product SEZs, domestic tariff areas and social infrastructure. | Pioneer in integrated SEZ development with strategic land locations, government partnerships and international investors. | B2B clients including multinational corporations, manufacturing and ITES companies operating in SEZs and industrial parks. | SEZ land leases and high-quality industrial infrastructure deliver recurring high-margin income. | 495 | 7 | Revenue from long-term land leases, commercial leases, operations and maintenance services in industrial parks. | Lease rentals, service fees, and operation & maintenance contracts; recurring revenue stream. | Industrial corridor growth, international partnerships, government SEZ incentives, urban industrial expansion. | Mahindra World City Chennai, Jaipur; Origins Industrial Clusters Ahmedabad, Chennai |
