Mahindra Lifespace Developers

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 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 ...

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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 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

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 ...

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 hits new high, soars over 9% on growth optimism

Knight Frank India, in association of NAREDCO has projected India's real estate sector to expand to $5.8 trillion and contribute 15.5 per cent to the total economic output by 2047.

Mahindra Lifespace rallies 9%; hits record high on strong growth outlook

The new CEO Amit Sinha has outlined ambitious business growth of 5x over the next 5 years from around Rs 2,268 crore of residential and IC business sales to Rs 8,000-10,000 crore by FY28.

Mahindra Lifespaces gets into plotted development with 'Lakefront Estates'

The project is designed to provide an ideal, customised living experience with green open spaces and access to excellent infrastructure and facilities, said the company

Mahindra Lifespace's Q4 net profit plunges 99.6% to Rs 0.54 crore

Realty firm Mahindra Lifespace Developers Ltd on Tuesday reported a 99.6 per cent decline in its consolidated net profit at Rs 0.54 crore in the quarter ended March. Its net profit stood at Rs 137.66 crore in the year-ago period. Total income rose to Rs 270.26 crore in the fourth quarter of the last fiscal from Rs 155.02 crore in the corresponding period of the preceding financial year. During the entire 2022-23 fiscal, the net profit declined to Rs 102.83 crore from Rs 161.71 crore in the previous year. Total income rose to Rs 659.56 crore in the last fiscal from Rs 408.24 crore in the 2021-22 fiscal. Mahindra Lifespace, which is real estate arm of Mahindra Group, is one of the leading real estate firms in the country.

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.

Mahindra Lifespace tumbles 8% after MD & CEO tenders resignation

The Mahindra Group has appointed Amit Kumar Sinha as the new MD & CEO from May 23, 2023

Mahindra Lifespaces Q3 net up 33% to Rs 33.21 cr, income rises to Rs 198 cr

Realty firm Mahindra Lifespace Developers Ltd on Thursday reported a 33 per cent increase in its consolidated net profit at Rs 33.21 crore for the quarter ended December. Its net profit stood at Rs 25.02 crore in the year-ago period. Total income rose sharply to Rs 198.14 crore in the third quarter of the current financial year from Rs 33.32 crore a year ago, according to a regulatory filing. Net profit during the April-December period of this fiscal jumped to Rs 100.88 crore from Rs 17.67 crore in the corresponding period of the previous year. Total income also rose to Rs 389.30 crore in the first nine months of FY23 from Rs 253.22 crore in the same period last year. Mahindra Lifespace, which is part of Mahindra Group, is one of the leading real estate firms in the country.

Mahindra Lifespace surges 8% on foray into society redevelopment in Mumbai

With the current addition, it has exceeded its guidance of land bank addition worth Rs 2,500 crore of development value, every year for FY23, ICICI Securities said.

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 buys 4.25 acre land in B'luru to build housing project

Realty firm Mahindra Lifespace Developers Ltd on Friday said it has acquired 4.25 acre land in Bengaluru to develop a housing project and is expecting revenue of around Rs 400 crore from this property. The company expects to launch the first phase of the project within the calendar year 2023. In a regulatory filing, Mahindra Lifesapce, the real estate and infrastructure development arm of the Mahindra Group, informed that it has purchased 4.25 acres of land in Singasandra, South Bengaluru. The land is estimated to have a developable potential of around 4.6 lakh square feet of saleable area and a Gross Development Value (GDV) of about Rs 400 crore primarily comprising of premium residential apartments, it added. Arvind Subramanian, Managing Director & CEO of Mahindra Lifespace Developers, said, "Bengaluru is a key growth market for our residential business, and we are happy to add this new project to our portfolio." "This will be our third project in Bengaluru...This latest ...

Sensex slumps 981 pts, Nifty ends near 17,800; PSU index crashes 6%

Market at close: The pain was even more severe in the broader market space where the BSE MidCap and SmallCap indices fell 3 and 4 per cent, respectively