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Mahindra Lifespaces reports pre-sales of Rs 1415 crore and Industrial land leasing of Rs 163 crore for H1 FY25
Mumbai, Oct 25, 2024 – Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development business of the Mahindra Group, announced its financial results for the quarter ended 30th September 2024 today. In accordance with INDAS 115, Company recognizes its revenues on completion of contract method.
Key highlights
H1 FY25 & Q2 FY25:
- Achieved pre-sales of Rs. 1,415 crore, 77% y-o-y growth (saleable area – 1.70 msft, RERA carpet area – 1.29 msft) [Q2 FY25 – Rs. 397 crore (saleable area – 0.53 msft, RERA carpet area – 0.42 msft)] in residential business
- Gross development value additions in H1 FY25: (1) Rs. 1,800 crore society development in Sai Baba Nagar, Borivali (7 societies), our third such project in Mumbai; (2) Rs. 250 Cr GDV potential from 2-acre land parcel adjacent to our Project ‘Mahindra Zen’ in Bengaluru
- Collections at Rs. 999 crore [Rs. 459 crore in Q2 FY25] from the residential business
- Achieved land leasing of 34.9 acres in the IC&IC business for Rs. 163.2 crore [Q2 FY25 – 16.1 acres for Rs. 87.1 crore]
- The consolidated total income stood at Rs. 16.0 crore in Q2 FY25 vs. Rs. 25.7 crore in Q2 FY24 and Rs. 206.7 crore in Q1 FY25
- The consolidated loss, after non-controlling interest, stood at Rs. 14.0 crore in Q2 FY25 as against loss of Rs. 19.0 crore in Q2 FY24 and a profit of Rs. 12.7 crore in Q1 FY25
- The consolidated total income stood at Rs. 222.7 crore in H1 FY25 vs. Rs. 135.8 crore in H1 FY24
- The consolidated loss, after non-controlling interest, stood at Rs. 1.3 crore in H1 FY25 as against loss of Rs. 23.2 crore in H1 FY24
Commenting on the performance, Mr. Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said, “We had a strong H1 FY25 performance driven by our project launches in earlier months, though the quarter was little muted. The real estate industry is witnessing strong tailwinds especially in the mid-premium and premium segments. We have an exciting set of launches planned for the reminder of the year. Our IC&IC business has continued to deliver a strong performance with increasing demand for manufacturing and favourable policy announcements from the Government.”
Notes:
- Company uses carpet areas in its customer communication. However, the data in saleable area terms has been presented here to enable continuity of information to investors and shall not be construed to be of any relevance to home buyers / customers.
- The operational highlights include the performance of the Company and its subsidiaries / joint ventures / associates.
Mahindra Lifespaces reports pre-sales of Rs 1019 crore and Industrial land leasing of Rs 76 crore for Q1 FY 25
Mahindra Lifespaces Expands Further in Pune with Launch of Happinest Tathawade Phase 4
Pune, 30th May 2024: Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, announced the launch of the final phase of its project, Mahindra Happinest Tathawade, a first-of-its-kind ‘Fusion Homes’ residential development in Pune. With most of the inventory in Phases 1, 2, and 3 nearly sold out, this is one of the fastest-selling developments in the micro-market of PCMC. Moreover, with construction of previously launched phases ahead of schedule, possession of apartments is planned from 2025 onwards. The final phase will comprise Tower A of Mahindra Happinest Tathawade, featuring 2 BHK units with carpet areas of 619 sq ft and 701 sq ft, in addition to duplexes available on the top floor.
As part of this phase, Mahindra Lifespaces is also introducing highway-facing offices and shops within the development, ensuring convenience for residents. This will be the most premium tower in the development, located in one of the fastest-selling projects in Tathawade, Pune. The new commercial spaces will offer a diverse range of options, including Shops & offices. Mahindra Lifespaces remains committed to strategically incorporating thoughtful amenities and services that enhance the overall living experience for our customers.
Launched in 2019, Happinest Tathawade offers features and amenities designed considering the limitations that emerged in traditional homes during the COVID lockdown. Hence, the development offers various category-first amenities like pedaling seats with provision for workstations, an organic farm, and numerous outdoor adventure games, aiming to bring the idea of fusion living to customers. Designed for maximum interior space utilization, each apartment offers efficient layouts with larger personal spaces and smaller passages.
Vimalendra Singh, Chief Business Officer (Residential), Mahindra Lifespace Developers Ltd., said, ”Pune continues to be one of the most sought-after residential destinations, driven by strong end-user demand. The city’s impressive growth in social and urban infrastructure, coupled with increasing employment opportunities, has bolstered our commitment to this market. The enthusiastic response to the previous phase of Happinest Tathawade has been immensely gratifying. We are excited to launch the final phase, which includes exclusive 2 BHK units and a duplex, and we are confident that it will be well-received by our discerning customers, thanks to its integrated offering of residential, retail, and commercial spaces.”
Strategically located along the Mumbai-Pune highway, the development is situated in a highly coveted residential area and an educational hub within Pimpri-Chinchwad. It is near the IT hub of Hinjewadi, various multi-speciality hospitals, and the proposed Hinjewadi Junction metro station. The area boasts upcoming developments including a lifestyle mall and the forthcoming 170 km ring road, slated to encircle both Pune and PCMC. The location also offers excellent connectivity to key transit points such as the Old Mumbai-Pune highway, Pune-Dhule-Nasik highway, railway stations (Kasarwadi and Pimpri), bus stop (Pimpri Chowk), and metro station (Sant Tukaram Nagar). Additionally, with the new phase, residents will benefit from proximity to the multi-level car park, health amenities like a fitness centre and play areas for kids and adults, and convenient retail options for everyday needs.
