Business Standard

Tuesday, January 21, 2025 | 08:16 AM ISTEN Hindi

Notification Icon
userprofile IconSearch

Mahindra Lifespace

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 Q2 results: Net loss at Rs 14 cr on lower income
Updated On : 27 Oct 2024 | 5:44 PM IST

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

Mahindra Lifespace aims for Rs 8-10K cr sales in housing, industrial spaces
Updated On : 17 Jun 2024 | 3:50 PM IST

BSE Realty index down 1.5% in a firm market; Godrej Properties weighs

Real-estate stock update: Realty stocks were witnessing some profit-taking on Thursday, as the BSE Realty index has rallied over 23 per cent so far in 2024.

BSE Realty index down 1.5% in a firm market; Godrej Properties weighs
Updated On : 02 May 2024 | 11:58 AM IST

Mahindra Lifespace FY24 results: Profits slip; sales at record Rs 2,328 cr

Mahindra Lifespace Developers Ltd has reported a marginal decline in consolidated net profit to Rs 97.89 crore during the last fiscal year on lower income. Its net profit stood at Rs 101.43 crore in the preceding year. According to a regulatory filing on Friday, the company's total income fell to Rs 279.12 crore last fiscal from Rs 659.56 crore in 2022-23. Mahindra Lifespace is the real estate and infrastructure development business of Mahindra Group. During the fourth quarter of last fiscal, the company's consolidated net profit surged to Rs 71.15 crore from just Rs 55 lakh in the year-ago period. Total income declined to Rs 54.60 crore in the quarter as against Rs 270.26 crore in the year-ago period. Amit Sinha, Managing Director & CEO, Mahindra Lifespace Developers, said, "We closed FY24 with our highest ever annual sales driven by successful launches throughout the year." Additionally, he said the company closed 2023-24 fiscal year with over Rs 4,400 crore of GDV (gross ...

Mahindra Lifespace FY24 results: Profits slip; sales at record Rs 2,328 cr
Updated On : 27 Apr 2024 | 11:52 AM IST

Mahindra Lifespace to invest Rs 6,000 crore in residential business by FY28

It is also setting sight on housing society redevelopments, and the acquisition of land parcels on an outright basis

Mahindra Lifespace to invest Rs 6,000 crore in residential business by FY28
Updated On : 25 Mar 2024 | 6:51 PM IST

Realty firm Mahindra Lifespace posts Rs 19 cr loss in Sept quarter

Realty firm Mahindra Lifespace Developers Ltd on Friday reported a consolidated net loss of Rs 18.93 crore for the second quarter ended September on lower income. Its net loss stood at Rs 7.51 crore in the year-ago period. Total income declined to Rs 25.7 crore during the JulySeptember period of the 202324 financial year from Rs 73.82 crore in the corresponding period of the previous year, according to a regulatory filing. Mahindra Lifespace is the real estate and infrastructure development arm of the business conglomerate Mahindra Group. On the operational front, the company said it achieved pre-sales of Rs 455 crore in residential business. It launched 0.47 million square feet of saleable area at Tathawade Phase 3 in Pune. The company collected Rs 311 crore in residential business. Mahindra Lifespace achieved land leasing of 9.9 acres in the industrial business for Rs 32.2 crore. The company's development footprint spans 34.46 million square feet of completed, ongoing, and ...

Realty firm Mahindra Lifespace posts Rs 19 cr loss in Sept quarter
Updated On : 27 Oct 2023 | 8:23 PM IST

Mahindra Lifespace buys 5.38 acre land in Pune to build realty project

Realty firm Mahindra Lifespace Developers Ltd has acquired 5.38 acre land at Wagholi in Pune to develop a real estate project. The land is estimated to have a development potential of over 1.5 million square feet of saleable area, the company said in a regulatory filing on Thursday. Mahindra Lifespace did not disclose the deal value and name of the seller. "Wagholi is a high potential micro market of Pune. It has a growing demand for high-quality residential spaces, ready to be absorbed. "The proposed land parcel is located within a well-planned Kharadi-Wagholi micro-market, boasting robust social amenities and civic infrastructure," Amit Kumar Sinha, Managing Director & CEO of Mahindra Lifespace Developers Ltd, said. This land acquisition is aligned with the company's strategy to further solidify its presence in the city's pivotal micro-markets, he added. Mahindra Lifespace Developers is one of the leading real estate firms in the country.

Mahindra Lifespace buys 5.38 acre land in Pune to build realty project
Updated On : 13 Oct 2023 | 6:13 PM IST

Mahindra Lifespace reports consolidated net loss of Rs 4 cr loss for Q1

Mahindra Lifespace Developers on Wednesday reported a consolidated net loss of Rs 4.27 crore for the first quarter of this fiscal year on lower income and higher expenses. The company posted a net profit of Rs 75.70 crore for the year-ago period. Total income fell to Rs 110.05 crore during April-June from Rs 117.34 crore in the corresponding period of the previous year, according to a regulatory filing. Total expenditure increased to Rs 148.34 crore from Rs 130.72 crore in the year-ago period. "Our residential business has delivered a pre-sales of Rs 345 crore. We are optimistic about the launches lined up in upcoming quarters. We are gearing up for a 5X growth in our business over the next 5 years," Mahindra Lifespace Developers Managing Director & CEO Amit Sinha said. The company has a portfolio of 34.46 million square feet of completed, ongoing and forthcoming residential projects across seven Indian cities. It also has more than 5,000 acres of ongoing and forthcoming projects

Mahindra Lifespace reports consolidated net loss of Rs 4 cr loss for Q1
Updated On : 26 Jul 2023 | 4:48 PM IST

Mahindra Lifespaces forays into plotted development; to start in Chennai

Realty firm Mahindra Lifespaces Developers Ltd on Monday announced its foray into plotted developments and launched first project in Chennai to sell plots to customers in a 19-acre project. The company has come up with first plotted development project 'Lakefront Estates by Mahindra' at Mahindra World City (MWC), Chennai, it said in a regulatory filing. Spread over 19 acres, the project will offer a wide range of plots meeting the customers' needs and aspirations, with sizes up to 5,000 square feet. Mahindra Lifespace, the real estate and infrastructure development business of the Mahindra Group, did not share detail about the cost of this project, number of plots being offered as well as the selling price and the estimated sales realisation from this project. Mahindra Lifespace development footprint spans 33.58 million square feet of completed, ongoing and forthcoming residential projects across seven Indian cities. It has over 5,000 acres of ongoing and forthcoming projects under

Mahindra Lifespaces forays into plotted development; to start in Chennai
Updated On : 03 Jul 2023 | 4:35 PM IST

Omron Healthcare to launch at Origins by Mahindra in Chennai in March 2025

The blood pressure monitor manufacturer is going to supply the device for India's domestic market by March 2025

Omron Healthcare to launch at Origins by Mahindra in Chennai in March 2025
Updated On : 02 Jun 2023 | 8:25 PM IST

BSE Realty index hits 8-month high; Mahindra Lifespace, DLF soar up to 7%

Since April, in past one-and-half months, the S&P BSE Realty index has rallied 21 per cent, as compared to 5.8 per cent rise in the S&P BSE Sensex.

BSE Realty index hits 8-month high; Mahindra Lifespace, DLF soar up to 7%
Updated On : 15 May 2023 | 12:41 PM IST

Mahindra Lifespace bags housing society redevelopment project in Mumbai

Realty firm Mahindra Lifespace Developers Ltd on Monday said it has bagged a project to redevelop a housing society in Mumbai with an expected revenue potential of Rs 850 crore. In a regulatory filing, Mahindra Lifespace -- the real estate and infrastructure development arm of the Mahindra Group, said it has won another society redevelopment project, which is spread over 3.6 acres land. "The company has been selected as the preferred partner to redevelop a residential society in Malad, West, one of the prominent residential and commercial localities situated in the western part of Mumbai. The project will offer Mahindra Lifespaces a revenue potential of around Rs 850 crore," it added. This is the second society redevelopment project bagged by the company. Amit Sinha, Director and Board member, Mahindra Lifespace Developers Ltd, said, the company foresees society redevelopment as an exciting opportunity. "In a city like Mumbai, with few prospects for greenfield construction due to

Mahindra Lifespace bags housing society redevelopment project in Mumbai
Updated On : 24 Apr 2023 | 7:20 PM IST

Urbanrise purchases 9.24 acre land parcel from Mahindra Life Spaces

Real estate developer Urbanrise has acquired a land parcel of 9.24 acre from Mahindra Life Spaces to develop a two million sq ft luxury highrise apartment community at Mahindra World City in Singaperumal Koil town about 45 km from here, the company said on Friday. The Alliance Group company's latest project is located near Chennai's satellite town of Maraimalai Nagar. The real estate developer plans to invest Rs 700 crore in this project, which has an estimated revenue potential of Rs 1,200 crore, a company statement said here. "Urbanrise has projects in all major neighbourhoods in and around Chennai city, and with this new project we will reach out to the aspiring home-buying community in and around Mahindra World City on GST Road," Urbanrise Chairman and Managing Director Manoj Namburu said. "We are extremely excited about this acquisition and are looking forward to developing a world-class residential community," he said.

Urbanrise purchases 9.24 acre land parcel from Mahindra Life Spaces
Updated On : 31 Mar 2023 | 4:04 PM IST

Mahindra Lifespace aims for Rs 500 cr revenue in industrial segment by 2025

In the residential segment, the company has set a target of increasing the annual sales of Rs 2,500 crore by 2025, from around Rs 1,000 crore last financial year

Mahindra Lifespace aims for Rs 500 cr revenue in industrial segment by 2025
Updated On : 26 Feb 2023 | 1:18 PM IST

Real estate shares weak; Godrej Properties, DLF, Mahindra Life shed 3% each

Godrej Properties, DLF and Mahindra Lifespace Developers were down 3 per cent, while Macrotech Developers (Lodha), Sobha, Oberoi Realty, Indiabulls Real Estate and Prestige Estates fell 1-2 per cent

Real estate shares weak; Godrej Properties, DLF, Mahindra Life shed 3% each
Updated On : 22 Feb 2023 | 1:22 PM IST

Mahindra Lifespace acquires 4.25 acres of land parcel in Bangalore

The project is located just off Hosur Road and offers access to well-developed social infrastructure with educational institutes, healthcare facilities, and retail avenues in proximity

Mahindra Lifespace acquires 4.25 acres of land parcel in Bangalore
Updated On : 13 Jan 2023 | 9:23 PM IST

Mahindra Lifespace acquires over 9 acres of land in Mumbai for Rs 365 crore

Realty firm Mahindra Lifespace Developers Ltd has completed the acquisition of a 9.24-acre land parcel in Mumbai from Mahindra & Mahindra Ltd for Rs 365 crore. In February this year, Mahindra Lifespace had announced that it would purchase the land in Kandivali, Mumbai from Mahindra & Mahindra Ltd for the development of a housing project. Mahindra & Mahindra is the promoter and holding company of Mahindra Lifespace Developers. The aggregate consideration for this land deal is Rs 365 crore (subject to actual land area survey, deduction of TDS and applicable taxes), to be paid in tranches and interest of 7 per cent per annum payable during the interim period of payment on unpaid principal balance from the sale date. The transaction is at arm's length, it had said. In a regulatory filing on Thursday, Mahindra Lifespace said the "company and M&M Ltd, on Thursday have consummated the said transaction by executing a deed of conveyance for the said property." Mumbai-based ...

Mahindra Lifespace acquires over 9 acres of land in Mumbai for Rs 365 crore
Updated On : 22 Dec 2022 | 10:33 PM IST

Mahindra Lifespace Developers' sale bookings grow 32% to Rs 399 crore in Q2

Realty firm Mahindra Lifespace Developers' sale bookings rose 32 per cent to Rs 399 crore during September quarter 2022-23 on better housing demand. Its sale bookings stood at Rs 303 crore in the year-ago period, according to an investors' presentation. Mahindra Lifespace, a part of business conglomerate Mahindra Group, reported an over two-fold jump in sale bookings at Rs 1,001 crore for April-September 2022-23 from Rs 449 crore in the year-ago period. The company had achieved sale bookings of Rs 1,028 crore in the housing segment in 2021-22. Mahindra Lifespace has almost reached the last year's number in six months only and hence it is expecting a significant growth in 2022-23. The company does not provide annual sale bookings guidance. However, Mahindra Lifespace is targeting a 2.5-fold jump in annual sale bookings at Rs 2,500 crore in next three years from Rs 1,028 crore in last financial year. Last week, the company - one of the leading real estate developers in the country

Mahindra Lifespace Developers' sale bookings grow 32% to Rs 399 crore in Q2
Updated On : 05 Nov 2022 | 6:17 PM IST

We work in a few mkts, don't spread ourselves thin: Mahindra Lifespaces CEO

In a Q&A, Arvind Subramanian says his firm hopes to achieve Rs 2,500 crore residential sales a year and industrial leasing of Rs 500 crore by 2025

We work in a few mkts, don't spread ourselves thin: Mahindra Lifespaces CEO
Updated On : 04 Nov 2022 | 11:34 PM IST

Mahindra Lifespaces Developers logs net loss of Rs 8 crore in Q2

The company has also set a target of achieving annual residential sales of Rs 2500 crore and annual leasing of Rs 500 cr

Mahindra Lifespaces Developers logs net loss of Rs 8 crore in Q2
Updated On : 03 Nov 2022 | 10:07 PM IST