Mahindra Lifespace Developers Ltd News

Mahindra Lifespace's arm joins hands with Sumitomo Corp; Stock gains 5%

The stock surged after its subsidiary, Mahindra World City Developers, launched the second phase of its industrial parks project in Tamil Nadu, in partnership with Japan's Sumitomo Corporation

Mahindra Lifespace Q2 results: Net loss at Rs 14 cr on lower income

Realty firm Mahindra Lifespace Developers Limited has posted a consolidated net loss of Rs 14.01 crore for the second quarter of this fiscal on lower income. The company had posted a net loss of Rs 18.93 crore in the year-ago period. Its total income declined to Rs 16.96 crore during the July-September quarter from Rs 26.70 crore in the year-ago period, according to a regulatory filing on Friday. During the April-September period of this fiscal, Mahindra Lifespace posted a net loss of Rs 1.27 crore against a net loss of Rs 23.20 crore in the year-ago period. The total income grew to Rs 222.66 crore in the first six months of this fiscal from Rs 136.76 crore in the same period of the preceding year. In 2023-24, Mahindra Lifespace reported a net profit of Rs 98.30 crore on a total income of Rs 279.12 crore. Mahindra Lifespace, a real estate arm of Mahindra Group, is one of the leading real estate developers in the country.

Mahindra Lifespace incurs Rs 14 crore loss in Q2; pre-sales up 77%

The company, however, achieved pre-sales of Rs 397 crore for the quarter with a saleable area of 0.53 million square feet (msf) in the residential segment

Nifty Realty up 2.5% on July 29; what's driving the rally? Analysts weigh

A major driver behind this rally, analysts said, is DLF's strong June quarter performance.

Mahindra Lifespace Q1 results: PAT at Rs 13 cr, total income at Rs 207 cr

Realty firm Mahindra Lifespace Developers Ltd on Wednesday reported a consolidated net profit of Rs 12.74 crore for the June quarter. The company posted a net loss of Rs 4.27 crore in the year-ago period. Its total income increased to Rs 206.70 crore during the April-June period of this fiscal year from Rs 110.05 crore in the corresponding period of the preceding financial year, according to a regulatory filing. On operational metrics, Mahindra Lifespace achieved pre-sales (sales bookings) of Rs 1,019 crore in residential business. It achieved land leasing of 18.8 acres in the integrated cities and industrial clusters business for Rs 76.1 crore. Mahindra Lifespace Developers Ltd Managing Director & CEO Amit Kumar Sinha said, "We continue to see strong momentum in our residential business. We have added healthy GDV (gross development value) in line with our 5X aspiration." Mahindra Lifespace, which is a real estate arm of Mahindra Group, has a development footprint of 37.95 ...

Mahindra Lifespace shares rally up to 6% on bagging deals worth Rs 2,050 cr

Shares of Mahindra Lifespace Developers zoomed 6.1 per cent at 647.70 per share on the BSE in Friday's intraday trade

Realty co Mahindra Lifespace eyes Rs 2,050 cr revenue from 2 new projects

Realty firm Mahindra Lifespace Developers Ltd on Thursday said it has acquired land in Bengaluru and bagged a redevelopment project in Mumbai with a combined revenue potential of Rs 2,050 crore. In a regulatory filing, the company informed about the "closure of two deals aggregating to Rs 2,050 crore in Gross Development Value (GDV)". These strategic moves include securing a third redevelopment project in Mumbai and acquiring a prime land parcel in Bengaluru, it added. Mahindra Lifespaces has been chosen as the preferred partner for the redevelopment of seven residential societies in the prestigious Borivali West, Mumbai neighbourhood. The company has recently acquired 2.37 acres of land in Singasandra, South Bengaluru. The land is estimated to have a developable potential of approximately 0.25 million square feet, with a Gross Development Value of around Rs 250 crore. Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd, said, "These strategic moves in ...

Mahindra Lifespace aims for Rs 8-10K cr sales in housing, industrial spaces

Realty firm Mahindra Lifespace Developers Ltd is targeting a sharp increase in its annual sales of housing properties and industrial space to Rs 8,000-10,000 crore by 2027-28 fiscal on rising demand. Mumbai-based Mahindra Lifespace sold residential properties and industrial space worth Rs 2,698 crore in the last fiscal as against Rs 2,268 crore in the 2022-23 financial year. According to the latest presentation in an investor meet, Mahindra Lifespace has mentioned about the target to achieve Rs 8,000-10,000 crore worth of sales in the 2027-28 fiscal in its two verticals -- residential and industrial park. Mahindra Lifespace has been actively buying land and also partnering with landlords for the development of residential properties. It has also entered into the redevelopment of housing societies in Mumbai. During the last fiscal, Mahindra Lifespace reported a marginal decline in consolidated net profit to Rs 97.89 crore on lower income. Its net profit stood at Rs 101.43 crore in