Mahindra Lifespace's Q2 Loss Narrows; H1 Pre-Sales Soar 77%

28 Oct 2024 , 01:05 PM

Mahindra Lifespace Developers reported a net loss of ₹14 Crore for Q2 FY25, down from ₹18.9 Crore in Q2 FY24. Revenue from operations dropped significantly by 57.3%, amounting to ₹7.6 Crore in Q2 FY25 compared to ₹17.8 Crore in the same quarter last fiscal.

The first half of FY25 showed strong performance, with pre-sales totaling ₹1,415 Crore, a 77% YoY increase over 1.70 million sq. ft. in saleable area, with ₹397 Crore achieved in Q2 FY25.

Key project additions in H1 FY25 include a society redevelopment project in Sai Baba Nagar, Mumbai, valued at ₹1,800 Crore, and a 2-acre land parcel in Bengaluru near Mahindra Zen, with an estimated GDV of ₹250 Crore.

Collections from residential sales reached ₹999 Crore for H1 FY25, with Q2 contributing ₹459 Crore.

The Industrial Cluster and Integrated Cities (IC&IC) business recorded land leases for 34.9 acres, valued at ₹163.2 Crore, with Q2 contributions of 16.1 acres worth ₹87.1 Crore.

Consolidated total income for Q2 FY25 was ₹16 Crore, down from ₹25.7 Crore in Q2 FY24; however, H1 FY25 saw growth in consolidated income at ₹222.7 Crore, up from ₹135.8 Crore in H1 FY24.

Consolidated loss after non-controlling interest improved to ₹1.3 Crore in H1 FY25, compared to ₹23.2 Crore loss in H1 FY24.