Mahindra Lifespace Developers, real estate unit of Mahindra Group, announced that the company has been awarded an order to redevelop three residential projects in Mumbai. The project has an estimated project value of ₹950 Crore.
The company stated in its filing with the bourses that the redevelopment project is located in Lokhandwala Complex, Andheri West, Mumbai. The real estate business stated that the Gross Development Value (GDV) of the project is nearly ₹950 Crore.
The company has announced its results for the quarter ended December 2024 and reported a net loss of ₹23 Crore. In its previous corresponding quarter ended December 2023, the company logged a net profit of ₹50 Crore.
Despite a decline in profit for the quarter, the real estate business logged a growth of 103.65% y-o-y to ₹167 Crore in Q3FY25. In Q3YF24, the company reported revenue from operations of ₹82 Crore.
The developer also stated in its filing that its residential sales declined to ₹334 Crore in the quarter under review as compared to ₹443 Crore in the previous comparable quarter.
In terms of stock performance, the stock has slipped about 34% in the last six months, and about 30.18% in the previous one year.
For feedback and suggestions, write to us at editorial@iifl.com
Related Tags
Invest wise with Expert advice
IIFL Customer Care Number
(Gold/NCD/NBFC/Insurance/NPS)
1860-267-3000 / 7039-050-000
IIFL Capital Services Support WhatsApp Number
+91 9892691696
IIFL Securities Limited - Stock Broker SEBI Regn. No: INZ000164132, PMS SEBI Regn. No: INP000002213,IA SEBI Regn. No: INA000000623, SEBI RA Regn. No: INH000000248
This Certificate Demonstrates That IIFL As An Organization Has Defined And Put In Place Best-Practice Information Security Processes.