New Delhi, Aug. 10 -- The Mahindra Group on Monday announced a dedicated strategic focus on its Holidays and Lifespaces businesses to accelerate growth and realise operational synergies, and appointed Mahindra Lifespace Developers Limited (MLDL) MD and CEO Amit Kumar Sinha as CEO of the newly focused sector.

The group said its real estate business, Mahindra Lifespaces, has emerged as one of its standout Growth Gems, with residential pre-sales increasing five-fold since FY20 to around Rs 3,500 crore from nearly Rs 700 crore.

Over the last three years, the company's gross development value (GDV) has also increased from Rs 8,000 crore to Rs 50,000 crore, while the business has progressed from losses to a profit of around Rs 300 crore in th...