Mahindra Lifespace Developers Limited has acquired 15,000 equity shares of Mahindra Bebanco Developers Limited from the joint venture partner, B. E. Billimoria & Co Limited representing 30% of the total share capital of MBDL. The balance 35,000 equity shares representing 70% of the total share capital of MBDL is already held by the Company.

Consequent to the acquisition of 15,000 equity shares as aforesaid, MBDL has ceased to be a joint venture cum partially owned subsidiary and has become a wholly owned subsidiary of the Company effective 28th May 2018. It continues to be a subsidiary of the ultimate holding company, Mahindra and Mahindra Limited.