Mahindra Lifespaces’ net loss widens to Rs 18.93 crore in Q2 FY24, ET RealEstate

October 27, 2023

NEW DELHI: Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development business of the Mahindra Group, has reported net consolidated loss after tax of Rs 18.93 crore during the quarter ended September 30, 2023. It had registered loss after tax of Rs 7.51 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing.

The company’s net consolidated total income stood at Rs 26.70 crore, a dip of 63.83 per cent from Rs 73.82 crore it recorded in the similar quarter last year.

Amit Sinha, managing director & CEO of the company said, “We achieved Rs 455 crore of pre-sales in our residential business. Our industrial leasing business has strong pipeline driven by domestic consumption and China+1 themes.”

It achieved pre-sales of Rs. 455 crore with saleable area – 0.68 million sq ft, in residential business and launched 0.47 million sq ft of saleable area during the quarter. Collections were at Rs. 311 crore in residential business

During half year ended September 30, 2023, pursuant to exercise of stock options by eligible employees under ESOS, the paid up equity share capital has gone up by Rs 29.83 lakhs due to allotment of 2,98,260 shares, of which 36,438 shares aggregating Rs 3.64 lakhs were allotted during quarter ended September 30, 2023.

  • Published On Oct 27, 2023 at 03:30 PM IST

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