Business & Investment

Mahindra Lifespace Developers Q3 Results: Posted Net Loss of Rs 11.19cr

real-estate company Mahindra Life Space Developer Ltd reported a consolidated net loss of Rs 11.19 on Saturday due to low income in the third quarter of the year.

The company posted a net profit of Rs 1.81 in the same period last year.

The company said in a regulatory filing that total revenue for the October-December quarter of fiscal 2020-21 fell from Rs 85 to Rs 70.19 in the year-ago quarter.

“Housing demand is strong across the market and we amount of sales And collections. In fact, third-quarter sales and paybacks were above the overall first half of 2009. ” Arvind Subramanian, Managing director Chief Executive Officer of Mahindra Life Space Developer.

In the housing sector, he said, with significant project launches planned and several land acquisition contracts expected to be signed, this quarter will be exciting.

“Our industrial park business has seen a significant increase in inquiries and we expect leasing volumes to increase in the coming quarters,” said Subramanian.

Founded in 1994, Mahindra Lifespace Developers is a US $ 19.4 billion real estate and infrastructure development business. Mahindra Group..

The company’s development footprint spans 25.7 million square feet of completed, ongoing and upcoming housing projects in seven cities in India. It also has a four-location integrated development / industrial cluster that develops and manages over 5,000 acres of ongoing and upcoming projects.



Mahindra Lifespace Developers Q3 Results: Posted Net Loss of Rs 11.19cr

https://economictimes.indiatimes.com/markets/stocks/earnings/mahindra-lifespace-developers-q3-results-posts-net-loss-of-rs-11-19-cr/articleshow/80421693.cms Mahindra Lifespace Developers Q3 Results: Posted Net Loss of Rs 11.19cr

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