Mahindra Lifespace Developers, the real estate and infrastructure development arm of the Mahindra Group, is expecting its industrial leasing business to touch an annual revenue of about Rs 500 crore by 2025, up from Rs 298 crore during the last financial year, a top company executive told Business Standard.
As part of its expansion plans, the company is looking to set up an industrial park under the 'Origins' brand at Pune-Satara area in Maharashtra. 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. “We are doing better this year. Last year, we did Rs 298 crore on the industrial business side. Now, in nine months we had around Rs 255 crore. We are looking at closing the year strong. We are on track to achieve the target of Rs 500 crore by 2025 in the industrial business,” said Rajaram Pai, chief business officer (industrial), Mahindra Lifespaces.
In the industrial space, the company has four parks – Mahindra World City projects in Jaipur and Chennai and Origins in Chennai and Ahmedabad. “We are looking at significant sales activation at Origins in Ahmedabad. We are looking at phase-II of the Origins in Chennai. At Ahmedabad, we are looking for an anchor client,” Pai added.
During the April-December period of the current financial year, the company had posted a multi-fold jump in net profit at Rs 100.88 crore, compared with Rs 17.67 crore during the same time the preceding financial year. “Demand has been significantly up for us. A lot of the contributory parts were driven by policy and consumption. PLI has been a big boost. Several companies have actually been expanding their footprint. In addition, the national logistics policy and infrastructure announcement in the Budget have been a big positive,” he said. In the industrial segment, Mahindra Lifespace has 3,000 acres in Jaipur, 1,500 acres at World City in Chennai, 300 acres at Origins in Chennai and 340 acres as part of Origins in Ahmedabad.
Pai added that during the last financial year, the firm was most impacted by an increase in the prices of steel, cement, soil and other raw material. He said that besides players in the production linked incentive schemes, the company is also betting big on sectors such as medical devices, steel mills and electric vehicle component makers.
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