The Blackstone Group L.P., GIC Pte. Ltd. and The Xander Group Inc. are in separate discussions to acquire XPeria Mall in Palava City, developed by Lodha Developers Limited, according to two people aware of the development. The deal size would be in the INR 6 billion-INR 7 billion, one of the persons cited above said on condition of anonymity.

Lodha Developers has hired a leading global real estate adviser to find a buyer for the mall, he added. "Given the strong performance of Lodha Xperia at Palava City, we have received interest from various marque investors to invest in the mall. We are considering these offers for divestment of a partial stake in the mall.

We continue to be committed to growing the mall and, generally, our retail business," a Lodha Group spokesperson said.