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Mahindra Lifespace Developers, the realty arm of Mahindra Group, is developing industrial cluster under the brand name Origins.
The company will be investing ₹600 crore to develop two clusters in Chennai and Ahmedabad. The first project is coming up in north Chennai with a phase-I development of 264 acres, a joint venture between Mahindra World City Developers Ltd and Sumitomo Corporation of Japan. The second project is located near Ahmedabad, with a phase-I development of 268 acres, and is being developed along with International Finance Corporation (IFC) as a strategic partner. “We are expecting around ₹3,000-4,000 crore from each of these projects. We will start approaching industries soon. We are looking at investments from both domestic and global firms,” said Sangeeta Prasad, CEO, Integrated Cities and Industrial Clusters. The company said it is also eyeing similar opportunities in other parts of the country. “Our intent is to offer specialised services in these clusters, besides creating an ecosystem that will foster development,” said Anita Arjundas, MD, Mahindra Lifespace.
Mahindra said it will target companies across the engineering, medical equipment, food processing and logistics sectors. Arun Nanda, Chairman, said: “With India expected to emerge among the top five manufacturing countries globally, sustainable and future-ready business ecosystems will act as a game-changer for inclusive growth, job creation and productivity enhancement.
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