Mahindra Lifespace Developers Ltd Share Price – NSE  /  BSE

Construction, Small Cap

Net profit of Mahindra Lifespace Developers reported to Rs 12.72 crore in the quarter ended June 2024 as against net loss of Rs 4.29 crore during the previous quarter ended June 2023. Sales rose 91.90% to Rs 188.14 crore in the quarter ended June 2024 as against Rs 98.04 crore during the previous quarter ended June 2023.

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Pursuant to the application filed by Mahindra World City Developers (MWCDL), a subsidiary of Mahindra Lifespace Developers (Company) and the developer of the Multi sector SEZ at Mahindra World City, Chengalpattu, Tamil Nadu, the Ministry of Commerce and Industry (Department of Commerce - SEZ Section), has granted its approval for partial denotification of 42.073 hectares out of the total 288.406 hectares at Mahindra World City Special Economic Zone, Chengalpattu, Tamil Nadu.

The denotification will enable MWCDL to lease the de-notified land to meet the market demand in Domestic Tariff Area.

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The real estate developer has been chosen as the preferred partner for the redevelopment of seven residential societies in prestigious Borivali West, Mumbai neighborhood. This project offers an estimated GDV of approximately Rs 1800 crore. The project will be developed under state’s cluster redevelopment policy.

Further, the company has recently acquired 2.37 acres of land in Singasandra, South Bengaluru, located next to its existing Mahindra Zen project. The land is estimated to have a developable potential of approximately 0.25 million square feet, with a GDV of around Rs 250 crore.

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 company’s consolidated net profit stood at Rs 71.48 crore in Q4 FY24, steeply higher than Rs 0.54 crore in Q4 FY23. Revenue from operations soared 94.40% to Rs 14.29 crore in Q4 FY24.

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Mahindra Lifespace Developers has acquired 2.37 acres of land in Singasandra, South Bengaluru, located next to its existing Mahindra Zen project, which received a stupendous response at launch. 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.

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