Mahindra Lifespace Posts Nearly Rs 19 Crore Loss In September Quarter

Its net loss stood at Rs 7.51 crore in the year-ago period.
Mahindra Lifespace
Mahindra Lifespace

Realty firm Mahindra Lifespace Developers Ltd on Friday reported a consolidated net loss of Rs 18.93 crore for the second quarter ended September on lower income.

Its net loss stood at Rs 7.51 crore in the year-ago period.

Total income declined to Rs 25.7 crore during the July–September period of the 2023–24 financial year from Rs 73.82 crore in the corresponding period of the previous year, according to a regulatory filing.

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

On the operational front, the company said it achieved pre-sales of Rs 455 crore in residential business.

It launched 0.47 million square feet of saleable area at Tathawade Phase 3 in Pune.

The company collected Rs 311 crore in residential business. Mahindra Lifespace achieved land leasing of 9.9 acres in the industrial business for Rs 32.2 crore.

The company's development footprint spans 34.46 million square feet of completed, ongoing, and forthcoming residential projects across seven Indian cities.

It has over 5,000 acres of ongoing and forthcoming projects under development and management at its integrated developments and industrial clusters across four locations.

Related Stories

No stories found.
Outlook Business & Money