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Mahindra Lifespace gains on partnering State Bank of India

Capital Market 

Mahindra Lifespace Developers rose 0.83% to Rs 390 after the company signed a Memorandum of Understanding (MoU) with State Bank of India to enable an improved and more seamless experience for homebuyers across India.

As part of the agreement, which includes various co-promotional activities and outreach initiatives, customers and employees of SBI and Mahindra Lifespaces will be able to avail the benefits of faster home loan processing and approvals, and special discounts and schemes.

Mahindra Lifespaces said it is continually innovating in its homes and offerings to improve the home buying experience. In line with the company's focus on environment-friendly, healthy living, all Mahindra Lifespaces homes are certified 'green'; and incorporate waste management, and water and energy conservation measures.

Mahindra Lifespace Developers is the real estate and infrastructure development business of the Mahindra Group.

The company reported a consolidated net loss of Rs 13.33 crore in Q2 FY21 as against net profit of Rs 15.77 crore in Q2 FY20. Net sales during the quarter declined by 91% YoY to Rs 30.78 crore.

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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First Published: Tue, January 12 2021. 13:53 IST