Mahindra Homes Private Limited (MHPL), a subsidiary of Mahindra Lifespace Developers, has received approval for a capital reduction from Rs. 86,85,930 to Rs. 84,45,930, leading to an increase in the companys shareholding in MHPL from 73.67% to 74.35%, with Rs. 59.99 crore to be paid to shareholders for the extinguishment of shares.