~ Ranks at No. 28 for its Environmental, Social & Governance (ESG) initiatives
Mumbai, Sep 29, 2016: Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has been recognised as one of the 100 most sustainable corporations across Asia in the 2016 edition of the Channel NewsAsia Sustainability Ranking. The company ranked at No. 28 on this year's list, up 28 places from last year’s rank of 56, and was acknowledged for its performance in the areas of product sustainability and human capital development, among other considerations. The ranking is a joint initiative between Sustainalytics, an independent ESG and corporate governance research, ratings and analysis firm; Channel NewsAsia, a prominent Asian TV news channel; and CSR Asia, a leading provider of advisory, research and training services on sustainable business practices in Asia.
“At Mahindra Lifespaces, sustainable development is an act of business responsibility as well as environmental stewardship. We believe our focus on ESG fosters innovation, minimises risks and drives a culture of transparency and efficiency that is vital to the growth of our business." said Anita Arjundas, Managing Director, Mahindra Lifespace Developers Limited.
The annual Channel NewsAsia Sustainability Ranking is the first of its kind in Asia and straddles diverse sectors; these include Real Estate, Consumer Goods & Services, Energy & Utilities, Technology, Transportation & Logistics, Media & Telecommunications and Healthcare, among others. Evaluation parameters include Operations, Supply Chain, Products and Services, Employees, Customers, Philanthropy, Ethics, Corporate Governance and Public Policy. The ranking strives to recognise these efforts and help the public, businesses and the investor communities make informed decisions. Each year, regional leaders in corporate sustainability across 11 key Asian economies are honoured for their endeavours in these areas. It also provides businesses and their stakeholders with a measure to benchmark their performance against other regional businesses.
In 2016, Mahindra Lifespaces was also ranked No. 2 in Asia in the Diversified/Listed category of real estate companies, in the Global Real Estate Sustainability Benchmarking (GRESB) report. GRESB is a Netherlands headquartered, industry-driven organisation committed to assessing the sustainability performance of real estate portfolios around the globe. Nearly 1,100 companies and funds have been assessed globally by GRESB.
About Mahindra Lifespace Developers Ltd.
Mahindra Lifespace Developers Ltd., the real estate and infrastructure development business of the $17.8 billion Mahindra Group, is a leader and pioneer in sustainable urban development, through the creation of residential and integrated large format developments across nine Indian cities - Mumbai, Pune, Nagpur, Gurgaon, Faridabad, Jaipur, Chennai, Hyderabad and Bengaluru. The Company’s residential & commercial development footprint includes over 1.22 million sq.m. (13.15 million sq. ft.) of completed projects and over 0.86 million sq. m. (9.23 million sq. ft.) of ongoing and forthcoming projects.
Mahindra Lifespaces has pioneered the concept of an integrated business city through ‘Mahindra World City’ developments in Chennai and Jaipur; built on the philosophy of ‘Livelihood-Living-Life’, these developments span 1796 hectares (4,437 acres), house over 130 global and Indian companies and serve to drive economic growth and community development. In addition, Mahindra Lifespaces enables access to quality housing at affordable prices via its brand ‘Happinest’.
A pioneer of the green homes movement in India, Mahindra Lifespaces is the first Indian real estate company to have voluntarily released its triple bottom-line focused, externally assured Sustainability Report based on the GRI (Global Reporting Initiative) framework. In 2016, Mahindra Lifespaces has been ranked No. 2 in Asia, in its category, by the Global Real Estate Sustainability Benchmark (GRESB).
The Mahindra Group focuses on enabling people to rise through solutions that power mobility, drive rural prosperity, enhance urban lifestyles and increase business efficiency.
A USD 17.8 billion multinational group based in Mumbai, India, Mahindra provides employment opportunities to over 200,000 people in over 100 countries. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology, financial services and vacation ownership. In addition, Mahindra enjoys a strong presence in the agribusiness, aerospace, components, consulting services, defence, energy, industrial equipment, logistics, real estate, retail, steel, commercial vehicles and two wheeler industries.
In 2015, Mahindra & Mahindra was recognized as the Best Company for CSR in India in a study by the Economic Times. In 2014, Mahindra featured on the Forbes Global 2000, a comprehensive listing of the world’s largest, most powerful public companies, as measured by revenue, profit, assets and market value. The Mahindra Group also received the Financial Times ‘Boldness in Business’ Award in the ‘Emerging Markets’ category in 2013.