 "Mahindra Lifespaces")
Mahindra Lifespace Developers’ loss for the third quarter of the financial year 2025 (Q3FY25) widened to Rs 22.5 crore against the loss of Rs 14 crore in Q2FY25 and a profit of Rs 50 crore in Q3FY24.
The company’s pre-sales for the quarter stood at Rs 334 crore, down by 24.61 per cent, year on year (Y-o-Y).
Further, the company’s revenue from operations increased by 104.02 per cent, to Rs 167.3 crore. Its total expenses stood at Rs 200.09 crore, up by 60.6 per cent Y-o-Y amid construction expenses incurred by the company.
During Q3FY25, the company acquired a 37-acre land parcel through a joint development agreement (JDA) at Bhandup in the Mumbai metropolitan region (MMR) with a potential gross development value (GDV) of Rs 12,000 crore.
Post the end of the quarter, the company acquired an 8-acre land parcel near Bengaluru airport with a GDV potential of Rs 1,000 crore.
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Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said, “We recorded our highest ever GDV additions during Q3, setting us up very well to achieve 5x growth target. Q3FY25 pre-sales was primarily driven by sustenance, though it was slow compared to last year. Our IC&IC business continues to benefit from strong macro tailwinds.”
Sinha informed that the company is gearing up for its planned launches in Q4FY25 across its key markets. The company is present across the nine Indian cities and has an area of 16.19 million square feet (msf) under development.
The company’s revenue from operations for the first nine months of FY25 (9MFY25) stood at Rs 363.03 crore, up by about 83.53 per cent, while it incurred a loss of Rs 23.74 crore against a profit after tax of Rs 26.82 crore in 9MFY24.
