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Mahindra Lifespace Developers Ltd. Company History and Annual Growth Details

GESCO Corporation Limited ("the Company") was incorporated as a Private
Limited Company on March 16, 1999 and converted to a Public Limited
Company on August 18, 1999.

Pursuant to the Scheme of Arrangement between the Company, The Great
Eastern Shipping Co. Ltd., (the Demerged Company) and their respective
shareholders, as approved by the Hon'ble High Court at Bombay on August
26, 1999, the assets and liabilities pertaining to the business
activity of managing, developing and operating of commercial properties
of the property development division of The Great Eastern Shipping Co.
Ltd. (the demerged undertaking), were transferred to and vested on
demerger in the Company with retrospective effect from April 1, 1999.
During the transition period from the Appointed date to the Effective
date i.e. April 1, 1999 to February 9, 2000, The Great Eastern Shipping
Co. Ltd. carried on the aforesaid business activities of managing,
developing and operating commercial properties in "trust': on behalf of
the Company. The Scheme has, accordingly, been given effect to in
these accounts.

Pursuant to the Scheme of Arrangement, 2,88,10,317 equity shares of Rs.
10/- each have been issued to the shareholders of The Great Eastern
Shipping Co. Ltd. in the ratio of one share of the Company for every
ten shares in the demerged Company and the assets, liabilities, and
reserves of the demerged undertaking as at April 1, 1999 have been
taken over at their book values.

Accordingly, Share Premium of Rs. 46,53,36,123 and General Reserve of
Rs. 75,83,93,057 representing the excess of the net book value of
assets of the demerged undertaking over the aggregate face value of the
share capital issued to the members of the Demerged Company have been
credited as reserves taken over.

In terms of the Scheme of Arrangement, the Company has taken over the
employees of the Demerged Company relatable to the business activity
taken over on the same terms and conditions on which they were engaged
in The Great Eastern Shipping Co. Ltd. The accumulated funds in respect
of Provident Fund, Gratuity, Pension and / or Superannuation pertaining
to the transferred employees will be transferred to the Company's Funds
on completion of the legal formalities for creation of such Funds.

The Company is in the process of transferring the documents,
agreements, title deeds for the properties etc. in the name of the

The Board of Gesco Corporation is meeting to consider a scheme of amalgamation
with Mahindra Realty & Infrastructure Developers.

2001- The company has informed that, Eastern Resin & Allied Products Ltd. (Sikkim) has acquired 17,75,185 (6.17%) shares of the company.

2001- The Sikkim-based Eastern Resin & Allied Products Ltd on Friday acquired 17,75,185 shares of GESCO Corporation Ltd.


-Mr Suvir Ahuja, Managing Director of the Mahindra Gesco Developers Ltd has expressed his desire to resign from the services of the Company with effect from August 27, 2003 and has tendered the required notice. The matter will be formally placed before the Board at its next proposed meeting to be held in the last week of July 2003.

-i) Mr. Sudhir Mulji, Non-Executive Chairman of the Company resigned as a Director with effect from October 17, 2003; ii) Mr. Sanjiv Kapoor has been appointed as an Additional Director at the Board Meeting held on October 31, 2003.


- Company name has been changed from Mahindra Gesco Developers Limited to Mahindra Lifespace Developers Ltd.


- IGBC Green Homes Precertified Platinum.

- AESA Gold Award, 2008 for The Woods, Wakad, Pune, The Best Project in Group Housing Category in Pune.


- Mahindra Splendour awarded winner in the category of “Best Developer– Green Future Development" by Cityscape Real Estate India.


- Mahindra Lifespaces wins The Economic Times ACETECH award under the category ‘Excellence in Mid Segment (Exterior Architectural Design)’ for project ‘Eminente’ Wings ‘Vervian & Veronica’ – on the 11th November, 2010.

- Wins Gold for ‘Refresh’ Newsletter Design and Silver for ‘Aqualily’ Brochure Design at the 50th Annual Awards of the Association of Business Communicators of India (ABCI) .

- Mahindra Lifespaces Awarded "One of India's Top 10 Builders 2010" by Construction World.


- For the second consecutive year, MLDL has been voted as one of India’s Top 10 Builders by CONSTRUCTION WORLD and CW INTERIORS.

- Splendour was the Second Best of the top three Finalists in KPMG-Qimpro Convention 2011 under Category Green Initiatives in Service Sector.


- Mahindra Lifespaces enters Nagpur - launches a premium residential project, "Bloomdale".

- Mahindra Lifespaces releases first ever Global Reporting Initiative report.

- Mah.Lifespac - Mahindra Lifespaces debuts in Hyderabad with ‘Ashvita’ - a premium residential complex.

-Mahindra Lifespace Developers - Mahindra World City, Jaipur signs Prithvi Steels.
-"Mahindra Lifespaces and Standard Chartered Bank to form joint venture for development of residential real estate in India".
-Mahindra Lifespace has acquired a land parcel in MMR region for residential development having an estimated development potential of around 0.50 million square feet.
-Mahindra Lifespace has entered into a collaboration agreement to undertake a Group Housing Project at Gurgaon, Haryana having a development potential of approx.1 mn sq.ft.
-"Mahindra World City, Jaipur signs PERTO S.A. from Brazil".

-Mahindra Lifespaces forays into weekend homes; Launches "The Serenes" - Exclusive Villas in Alibaug.
-Mahindra Lifespace launches 2nd Happinest project in Boisar, Maharashtra.
-Mahindra Lifespace has acquired a land parcel in MMR region for residential development having an estimated development potential of around 0.33 million square feet of saleable area. It will be a joint development project under residential housing segment.
-Mahindra Lifespaces launches its first Happinest project in Chennai Homes starting from Rs. 9.9 Lakhs.

-Mahindra World City announces Joint Venture with Sumitomo Corporation for New Industrial Park
-Mahindra Lifespace to launch new project in Bengaluru
-Mahindra Lifespaces announces its foray into Bengaluru
-Mahindra Lifespace acquires land parcel in Maharashtra
-Mahindra Lifespaces’ ‘Splendour’ wins the ACETECH Alpha Award for Best Developer Residential Project

-Mahindra Lifespace Developers Ltd "Change of Registrar and Transfer Agent of the Company".
-Company launches "Mahindra World City, Chennai launches new phase of industrial zone".