Mahindra Lifespace Q4 Net Profit Rises 59% to Rs 49 Crore

Mahindra Lifespace Developers today reported 59 per cent increase in consolidated net profit to Rs 48.63 crore.

Published: 26th April 2016 05:12 PM  |   Last Updated: 26th April 2016 05:12 PM   |  A+A-


NEW DELHI: Mahindra Lifespace Developers today reported 59 per cent increase in consolidated net profit to Rs 48.63 crore for the March quarter.

Its net profit stood at Rs 30.62 crore in the year-ago period, the real estate and infrastructure development business of the Mahindra Group said in a regulatory filing.

Income from operations rose marginally to Rs 266.29 crore during the January-March period of the 2015-16 fiscal, compared with Rs 259.11 crore in the same period of 2014-15.

For entire 2015-16, Mahindra Lifespace reported 65 per cent decline in its profit at Rs 93.09 crore as against Rs 266.20 crore in the previous fiscal.

Income from operations also fell to Rs 826.16 crore last fiscal from Rs 1,086.10 crore in 2014-15.

The company's Board has recommended a dividend of 60 per cent.

"Residential sales demonstrated strong q-o-q performance across projects, resulting in a 17 per cent growth in FY16 sales over the previous year.

"Execution performance was also strong during the quarter, resulting in a total of 0.3 million sq metre (3.3 mn sq ft) getting completed in FY16 as against 0.1 mn sq metre (1.2 mn sq ft) in FY15," said Anita Arjundas, MD and CEO, Mahindra Lifespace Developers.

"Our joint venture with Sumitomo Corporation, for a new industrial cluster in North Chennai, saw fruition during the quarter with a 40% stake being taken up by them. A recovery in economic indicators will help drive demand in both our business segments," she added.

Mahindra Lifespace Developers has presence across nine Indian cities - Mumbai, Pune, Nagpur, Gurgaon, Faridabad, Jaipur, Chennai, Hyderabad and Bengaluru.

The company's residential and commercial development footprint includes over 1.20 million sq metre (12.94 million sq ft) of completed projects and over 0.88 million sq metre (9.44 million sq ft) of ongoing and forthcoming projects.

It has pioneered the concept of an integrated business city through 'Mahindra World City' developments in Chennai and Jaipur.

Stay up to date on all the latest Business news with The New Indian Express App. Download now


Disclaimer : We respect your thoughts and views! But we need to be judicious while moderating your comments. All the comments will be moderated by the editorial. Abstain from posting comments that are obscene, defamatory or inflammatory, and do not indulge in personal attacks. Try to avoid outside hyperlinks inside the comment. Help us delete comments that do not follow these guidelines.

The views expressed in comments published on are those of the comment writers alone. They do not represent the views or opinions of or its staff, nor do they represent the views or opinions of The New Indian Express Group, or any entity of, or affiliated with, The New Indian Express Group. reserves the right to take any or all comments down at any time.

flipboard facebook twitter whatsapp