Q4FY24 Quarterly & FY24 Annual Result Announced for Mahindra Lifespace Developers Ltd.
Realty company Mahindra Lifespace Developers announced Q4FY24 & FY24 results: Q4FY24 Financial Highlights: Acquired 9.4 acres of land in Whitefield, Bengaluru with a development potential of more than 1.20 msft (saleable area). Acquired ~2 acres of land in Whitefield, Bengaluru with a development potential of approximately 0.2 msft (saleable area). Achieved pre-sales of Rs 1,086 crore (saleable area - 0.85 msft, RERA carpet area - 0.55 msft) in residential business. Achieved land leasing of 29.2 acres in the industrial business for Rs 99 crore. The consolidated total income stood at Rs 55 crore as against Rs 270 crore in Q4FY24 and Rs 89 crore in Q3FY24. The consolidated PAT, after non-controlling interest, stood at Rs 72 crore as against profit of Rs 0.5 crore in Q4FY24 and a profit of Rs 50 crore in Q3FY24. FY24 Financial Highlights: The company achieved its highest ever GDV of over Rs 4,400 crore, by signing up acquisitions with 3.58 msft of development potential. Achieved highest ever pre-sales of Rs 2,328 crore (saleable area - 2.47 msft, RERA carpet area – 1.84 msft) in residential business. Collections at Rs 1,385 crore in the residential business. Achieved land leasing of 119.4 acres in the industrial business for Rs 370 crore. The consolidated total income stood at Rs 279 crore as against Rs 660 crore in FY23. The consolidated PAT, after non-controlling interest, stood at Rs 98 crore as against a profit of Rs 101 crore in FY23. Commenting on the performance, Amit Sinha, Managing Director & CEO, Mahindra Lifespace Developers said, “We closed FY24 with our highest ever annual sales driven by successful launches throughout the year. Additionally, we closed the year with over Rs 4,400 crore of GDV in our business development and are optimistic for the coming year given our strong pipeline of deals. Our IC⁣ continued its traction with Rs 370 crore of leasing revenue, in line with manufacturing traction seen throughout the country.” Result PDF29-04-2024
