Page 2 - Mahindra Lifespace Developers

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

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

Chennai and Jaipur to be seed sites of Mahindra Lifespaces-Actis JV

Major stake of the joint venture's total investment is to be acquired by Actis. Over the initial years, total investment is to be estimated at Rs 2,200 crore including debt

Shares of Mahindra Lifespace Developers settle with marginal gains

Shares of Mahindra Lifespace Developers pared most of its initial gains and settled with marginally higher on the bourses on Monday. The scrip opened at Rs 541.95 and later rose 2.37 per cent to touch Rs 550.40, its 52-week high level on BSE. However, it shed the gains and ended the day 0.35 per cent higher at Rs 539.55. Similar movement was seen on the NSE as well. The stock opened at Rs 539 and ended the day at Rs 540, higher by 0.78 per cent over its previous close. Meanwhile, the 30-share benchmark index Sensex closed higher by 321.99 points or 0.54 per cent at a three-week high of 60,115.13 points. The company's Managing Director and Chief Executive Officer Arvind Subramanian has said it is looking to acquire new land parcels for business expansion in three focus cities -- Mumbai Metropolitan Region (MMR), Pune and Bengaluru. He highlighted that the company already acquired a land parcel this fiscal that has a Gross Development Value (GDV) of Rs 1,700 crore and the deal pipe

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ONGC has signed 6 contracts for Discovered Small Fields (DSFs) under the DSF-III bid round. Contracts were signed for 3 offshore fields each in the Arabian Sea, Bay of Bengal

Mahindra Lifespaces to buy land parcels with Rs 3k-crore sales value

Realty firm Mahindra Lifespace Developers is looking to acquire a few land parcels this fiscal to build housing projects with sales potential of Rs 3,000-4,000 crore, a top company official said. The company will acquire these land parcels either through outright purchase or by forming Joint Development Agreements (JDAs) with landowners. Mumbai-based Mahindra Lifespace Developers Ltd, part of Mahindra Group, is one of the leading real estate players in the country. The company's market cap recently touched USD 1 billion (about Rs 8,000 crore). In an interview with PTI, the company's Managing Director (MD) and Chief Executive Officer (CEO) Arvind Subramanian said Mahindra Lifespace is looking to acquire new land parcels for business expansion in three focus cities -- Mumbai Metropolitan Region (MMR), Pune and Bengaluru. He highlighted that the company already acquired a land parcel this fiscal that has a Gross Development Value (GDV) of Rs 1,700 crore and the deal pipelines are ...

Real estate demand from industries is seeing a steep rise: Arun Nanda

After working for 50 years in various capacities in the Mahindra group, Nanda retired as the Chairman of Mahindra Lifespaces last week

Recession fears hit global mkts; Sensex drops 1,046 pts, Nifty below 15,400

CLOSING BELL: The S&P BSE Sensex and the Nifty50 indices hit fresh 52-week lows as they spiraled 2 per cent down

Mahindra Lifespace shares rally nearly 8% after earnings announcement

Its consolidated total income stood at Rs 408.2 crore in the last fiscal, against Rs 187.8 crore FY21, according to a regulatory filing

Mahindra Lifespace rallies 20% on plan to buy land parcel from M&M

M&M said it will not have any impact on the operations of the company as no operations of the Auto and Farm Sectors are carried out on the land being sold.

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Mahindra Lifespace zooms 19% as firm to consider bonus issue plan

The board at its meeting scheduled on Wednesday, July 28, 2021, will consider the proposal for the issuance of bonus equity shares

Mahindra Lifespace goes aggressive in buying land parcels for new projects

Analysts expect its sales bookings value to grow 39 per cent on compound annual growth rate (CAGR) basis between FY21 and FY25

Mahindra Lifespace Developers shifts gear; charts aggressive growth plans

The company, which lagged peers Godrej Properties and Prestige Estates Projects, seeks to invest Rs 500 cr every year in buying land parcels for new projects

Mahindra Lifespace to buy 3.2 acre land in Pune for expansion plans

Mahindra Lifespace Developers has agreed to buy 3.2 acre land in Pune from parent company Mahindra & Mahindra as part of its expansion plan. The company said it has "finalised the terms to purchase approximately 3.2 acres of land in Pimpri, Pune, from Mahindra & Mahindra Ltd". The purchase is expected to be concluded in around six months, subject to the fulfillment of agreed conditions by both buyer and seller. This new project will offer about 3.25 lakh sq ft of carpet area. When it is launched, this will be Mahindra Lifespaces' fourth project in Pune. Arvind Subramanian, managing director & CEO of Mahindra Lifespace Developers Ltd, said, "The proposed acquisition will help us grow our presence in this high-performing micro-market and is in line with our residential expansion strategy." Established in 1994, Mahindra Lifespace Developers Ltd is the real estate and infrastructure development business of the USD 19.4-billion Mahindra Group. The company's development ...

Japanese group Yanmar sets up its first diesel engine making unit in India

With a built-up area of 23,708 sq mt, the facility in Chennai has an annual production capacity of 80,000 engines

Housing sales reviving, end-user demand may strengthen: Mahindra Lifespace

Housing sales as well as enquiries from prospective homebuyers, which were badly hit during April-June due to the COVID-19 pandemic, have started to revive gradually and end-user demand is likely to strengthen in coming months, a top official of Mahindra Lifespace said on Thursday. In an interview with PTI, Mahindra Lifespace Developers MD & CEO Arvind Subramanian said the company did not witness much cancellation of apartments booked by customers as widely feared after the outbreak of COVID-19 and subsequent lockdown. "Just like the economy, businesses were severely challenged in the first quarter of this fiscal year. There was almost a standstill in housing sales and construction activities," he said. However, Subramanian said, "The good news is that our existing customers are committed to their bookings. We are not seeing a large cancellation which could have been one of the outcomes." He said the sales bookings and enquiries from customers in July increased as compared to the .

Mahindra Lifespace to raise $50 mn from IFC to support $210-mn projects

The Mahindra Group's real estate arm Mahindra Lifespace Developers Limited (MLDL) plans to raise $50 million from International Finance Corporation (IFC). The investment will support company's plan to develop three industrial clusters (ICs) in Rajasthan, Gujarat and Maharashtra at a cost of over $210 million.IFC proposed investment is a combination of equity and subordinated debt, with an equal investment from MLDL in a combination of instruments and assets. IFC will invest in one or more special purpose vehicles (SPVs), promoted by MLDL.The three ICs are planned to be developed over the next 4-6 years in a staggered manner, with full project completion by 2025.The IC near Pune will be developed over an area of approximately 511 acres. It will comprise of a domestic tariff area and engineering and auto ancillary units. Around 152 acres has already been purchased by Knowledge Township Limited (KTL), a subsidiary of MLDL.For IC near Jaipur, the SPV would utilise 500 acres from the ...