India, May 27 -- Mahindra Lifespaces, the real estate arm of the Mahindra Group, has said that the company plans to exit from the affordable housing segment for the time being, stating that it will have zero affordable housing projects on its books by FY30.

Managing Director and CEO Amit Kumar Sinha said the company plans to align its real estate strategy with the broader Mahindra brand, which focuses on premium SUVs rather than affordable or luxury vehicles. Similarly, Mahindra Lifespaces will concentrate on offering premium homes that are positioned between the affordable and luxury segments.

Sinha said the company plans to pause the development of affordable housing projects to concentrate on premium housing instead.

"If you look at...