India, Oct. 1 -- The real estate and infrastructure development arm of the Mahindra Group has quietly widened its footprint in Mumbai's redevelopment market. A fresh set of housing societies, spread across two suburbs, now sits in its pipeline, and the company says the move fits a broader plan for growth. Coming off a quarter in which profit climbed and sales more than doubled, the timing is interesting. What it means for earnings, though, depends heavily on how quickly these projects move towards launch.

Shares of Mahindra Lifespace Developers Ltd are trading at Rs. 356.35, down 1.10 percent on Thursday. The stock touched the intraday high of Rs. 364.85 after opening at Rs. 357.10 before slipping to a low of Rs. 356.00. The company comm...