Mahindra Lifespace Q2 Results | Net profit shrinks to ₹14 crore, revenue tanks 57% to ₹8 crore
In the corresponding quarter of the previous fiscal, Mahindra Lifespace Developers posted a net loss of ₹18.9 crore, the company said in a regulatory filing. The company’s revenue from operations tanked 57.3% to ₹7.6 crore as against ₹17.8 crore in the corresponding period of the preceding fiscal.
Mahindra Lifespace reported strong performance in H1 FY25, with pre-sales reaching ₹1,415 crore, marking a 77% year-over-year growth across 1.70 million square feet in saleable area, of which ₹397 crore was achieved in Q2 FY25.
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In H1 FY25, the company added gross development value (GDV) projects including a ₹1,800 crore society redevelopment in Sai Baba Nagar, Borivali, Mumbai, and a ₹250 crore potential GDV from a 2-acre land parcel near Mahindra Zen in Bengaluru.
Residential business collections totalled ₹999 crore for H1 FY25, with ₹459 crore from Q2. Additionally, the IC&IC business achieved land leasing of 34.9 acres valued at ₹163.2 crore, including 16.1 acres in Q2 worth ₹87.1 crore.
Consolidated total income for Q2 FY25 stood at ₹16.0 crore, compared to ₹25.7 crore in Q2 FY24, and for H1 FY25, it was ₹222.7 crore, up from ₹135.8 crore in H1 FY24. The consolidated loss after non-controlling interest improved to ₹1.3 crore in H1 FY25, compared to a loss of ₹23.2 crore in H1 FY24.
The results came after the close of the market hours. Shares of Mahindra Lifespace Developers Ltd ended at ₹496.20, down by ₹9.00, or 1.78% on the BSE.
