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Mahindra Lifespace Developers Ltd News

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

Mahindra Lifespace shares rally up to 6% on bagging deals worth Rs 2,050 cr
Updated On : 05 Jul 2024 | 11:41 AM IST

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 ...

Realty co Mahindra Lifespace eyes Rs 2,050 cr revenue from 2 new projects
Updated On : 04 Jul 2024 | 6:12 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

Anand Mahindra bats for making life simpler for Indian innovators

The PLI schemes are on the right path providing a runway for businesses to foray into new sectors and industries, he said

Anand Mahindra bats for making life simpler for Indian innovators
Updated On : 10 Mar 2024 | 8:29 PM IST