Mahindra Lifespaces Reports Rs 1,415 Crore Pre-Sales for H1 FY25
Mahindra Lifespaces, a leading real estate developer in India, has announced robust financial results for the first half of the fiscal year 2025, including a significant 77% year-on-year growth in pre-sales.
Mahindra LifespacesReal EstateFinancial ResultsPresalesInfrastructure DevelopmentReal Estate MumbaiOct 27, 2024
In the first half of FY25, MLDL achieved impressive pre-sales of Rs. 1,415 crore, marking a 77% year-on-year growth. This includes a saleable area of 1.70 million square feet and a RERA carpet area of 1.29 million square feet. In comparison, the pre-sales in Q2 FY25 amounted to Rs. 397 crores, covering a saleable area of 0.53 million square feet and a RERA carpet area of 0.42 million square feet.
MDL has also made significant strides in gross development value (GDV) additions. Notable projects include a Rs. 1,800 crore society development in Sai Baba Nagar, Borivali, comprising seven societies. This is their third such project in Mumbai. Additionally, the company has identified a 2-acre land parcel adjacent to the 'Mahindra Zen' project in Bengaluru, which has the potential to add Rs. 250 crore to the GDV.
Collections from the residential business in Q2 FY25 reached Rs. 999 crore, up from Rs. 459 crore in the same quarter of the previous year. The company also reported success in its industrial and commercial (IC&IC) business, achieving land leasing of 34.9 acres for Rs. 163.2 crore, compared to 16.1 acres for Rs. 87.1 crore in Q2 FY25.
Despite these positive developments, the consolidated total income for Q2 FY25 stood at Rs. 16.0 crore, down from Rs. 25.7 crore in Q2 FY24 and Rs. 206.7 crore in Q1 FY25. The consolidated loss after non-controlling interest for Q2 FY25 was Rs. 14.0 crore, an improvement from the Rs. 19.0 crore loss in Q2 FY24 but a decline from the Rs. 12.7 crore profit in Q1 FY25.
For the first half of FY25, the consolidated total income was Rs. 222.7 crore, up from Rs. 135.8 crore in H1 FY24. The consolidated loss after non-controlling interest for H1 FY25 was Rs. 1.3 crore, a significant improvement from the Rs. 23.2 crore loss in H1 FY24.
Mahindra Lifespaces continues to focus on strategic growth and development, ensuring sustainable and high-quality projects that meet the evolving needs of the real estate market in India.
Frequently Asked Questions
What is the pre-sales achievement of Mahindra Lifespaces for H1 FY25?
Mahindra Lifespaces reported pre-sales of Rs. 1,415 crore for the first half of FY25, representing a 77% year-on-year growth.
What are the notable GDV additions in H1 FY25 by Mahindra Lifespaces?
Notable GDV additions include a Rs. 1,800 crore society development in Sai Baba Nagar, Borivali, and a 2-acre land parcel with Rs. 250 crore GDV potential adjacent to the 'Mahindra Zen' project in Bengaluru.
How much did Mahindra Lifespaces collect from the residential business in Q2 FY25?
Mahindra Lifespaces collected Rs. 999 crore from the residential business in Q2 FY25, up from Rs. 459 crore in the same quarter of the previous year.
What was the consolidated total income for Q2 FY25?
The consolidated total income for Q2 FY25 was Rs. 16.0 crore, down from Rs. 25.7 crore in Q2 FY24 and Rs. 206.7 crore in Q1 FY25.
What is the consolidated loss after non-controlling interest for H1 FY25?
The consolidated loss after non-controlling interest for H1 FY25 was Rs. 1.3 crore, a significant improvement from the Rs. 23.2 crore loss in H1 FY24.
Related News Articles
Revive Indexation Benefits for Long-Term Capital Gains
The removal of indexation benefits in capital gains calculation has sparked debate. While the government claims it's beneficial, experts argue it will lead to higher tax liabilities for property sellers.
Pune's Mali Mahasangha Protests to Rename Mandai Metro Station After Mahatma Phule
Pune: Mali Mahasangha stages protest demanding Mandai Metro Station be named after Mahatma Phule, Metro administration agrees to discuss issue on October 4
Chhota Rajan: From Dawood Ibrahim’s Sidekick to Deadly Rival
Rajan, originally a protege of the notorious underworld don Dawood Ibrahim, later became his fiercest adversary. Known for his involvement in numerous high-profile crimes, Rajan’s criminal empire spanned decades and crossed international borders.
Bhopal's Real Estate Market Witnesses Turmoil as Property Prices Soar
The recent surge in property prices in Bhopal has failed to resonate well with real estate developers, leading to a turbulent market scenario.
Delhi-NCR Office Rent Soars to Rs 340/Sq Ft, Making It 6th Costliest in Asia-Pacific: Report
Delhi-NCR has emerged as the 6th costliest office market in the Asia-Pacific region, with office rent hitting Rs 340 per square foot, according to a recent report by Knight Frank India. The real estate consultant's latest edition of the Asia-Pacific Offic
Pune Police Arrest Dance Teacher for Alleged Molestation of 11-Year-Old Student
In a shocking incident, Pune Police have arrested a dance teacher for allegedly molesting an 11-year-old student. The arrest has sparked outrage and concerns over child safety in educational institutions.