Net loss of Mahindra Lifespace Developers reported to Rs 11.19 crore in the quarter ended December 2020 as against net profit of Rs 1.81 crore during the previous quarter ended December 2019. Sales declined 17.34% to Rs 65.16 crore in the quarter ended December 2020 as against Rs 78.83 crore during the previous quarter ended December 2019.

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As part of the agreement, which includes various co-promotional activities and outreach initiatives, customers and employees of SBI and Mahindra Lifespaces will be able to avail the benefits of faster home loan processing and approvals, and special discounts and schemes.

Mahindra Lifespaces said it is continually innovating in its homes and offerings to improve the home buying experience. In line with the company's focus on environment-friendly, healthy living, all Mahindra Lifespaces homes are certified 'green'; and incorporate waste management, and water and energy conservation measures.

Mahindra Lifespace Developers is the real estate and infrastructure development business of the Mahindra Group.

The company reported a consolidated net loss of Rs 13.33 crore in Q2 FY21 as against net profit of Rs 15.77 crore in Q2 FY20. Net sales during the quarter declined by 91% YoY to Rs 30.78 crore.

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Mahindra Lifespace Developers and State Bank of India signed a Memorandum of Understanding (MoU) to enable an improved and more seamless experience for homebuyers across India. As part of the agreement, which includes various co-promotional activities and outreach initiatives, customers and employees of SBI and Mahindra Lifespaces will be able to avail the benefits of faster home loan processing and approvals, and special discounts and schemes.

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Mahindra Lifespace Developers will hold a meeting of the Board of Directors of the Company on 23 January 2021.

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