Mahindra Lifespace Developers Ltd Share Price – NSE  /  BSE

Construction, Small Cap

Post its launch, the project recorded bookings for over 150 homes within 2 days, which is nearly 65% of the launched inventory.

The company stated that against the backdrop of rising environmental concerns, Mahindra Lifespaces' innovative offering has resonated strongly with homebuyers, reaffirming the company's position as a leader in sustainable real estate development.

Vimalendra Singh, chief business officer (Residential), Mahindra Lifespace Developers, said: “The successful sales of Mahindra Zen reinforces our commitment to environmentally responsible development and highlights the growing preference for sustainable living among our customers in Bengaluru.

As pioneers of Net Zero homes in the country, we aim to contribute to reducing the environmental impact of real estate and are delighted with the response that our project has received. This achievement highlights the increasing awareness and desire among homebuyers to contribute to a greener future.”

Mahindra Lifespace Developers is the real estate and infrastructure development arm of the Mahindra Group. The company's development footprint spans 35.06 million square feet of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5,000 acres of ongoing and forthcoming projects under development/management at its integrated developments/industrial clusters across four locations.

The real estate developer’s consolidated net profit jumped 50.6% to Rs 50 crore in Q3 FY24 as against Rs 33.2 crore recorded in Q3 FY23. However, revenue from operations tumbled 56.13% to Rs 81.99 crore in Q3 FY24 from Rs 186.90 crore posted in the corresponding quarter previous year.

The scrip shed 0.26% to currently trade at Rs 625.30 on the BSE.

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Mahindra Lifespace Developers today announced the successful launch of Bengaluru's 1st Net Zero Waste + Energy residential project, Mahindra Zen. The project witnessed an outstanding response from homebuyers, with over 150 homes booked within just 2 days, that is ~65% of the launched inventory. This remarkable achievement, totaling over ₹350 crore in value, underscores the growing demand for sustainable living solutions in Bengaluru. Against the backdrop of rising environmental concerns, Mahindra Lifespaces' innovative offering has resonated strongly with homebuyers, reaffirming the company's position as a leader in sustainable real estate development.

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Mahindra Lifespace Developers will hold a meeting of the Board of Directors of the Company on 26 April 2024.

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Mahindra Lifespace Developers Ltd rose 1.98% today to trade at Rs 575.8. The S&P BSE Realty Index index is up 0.91% to quote at 7135.67. The index is down 2.75 % over last one month. Among the other constituents of the index, Sobha Ltd increased 1.82% and Macrotech Developers Ltd added 1.12% on the day. The S&P BSE Realty Index index went up 133.84 % over last one year compared to the 26.21% surge in benchmark SENSEX.

Mahindra Lifespace Developers Ltd has lost 4.8% over last one month compared to 2.75% fall in S&P BSE Realty Index index and 0.07% rise in the SENSEX. On the BSE, 2377 shares were traded in the counter so far compared with average daily volumes of 25483 shares in the past one month. The stock hit a record high of Rs 632.8 on 05 Feb 2024. The stock hit a 52-week low of Rs 316.1 on 28 Mar 2023.

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