Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
Stock Report

| More

Mahindra Lifespaces achieves residential sales of Rs. 115 crores in Q2FY21

Posted On: 2020-10-30 02:37:37


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 Sep 2020 today.

In accordance with IND AS 115, Company recognizes its revenues on completion of contract method.

FINANCIAL PERFORMANCE FOR Q2 FY21 vs Q1 FY21

- The consolidated total income stood at Rs. 37 crores as against Rs. 22 crores in Q1 FY21

- The consolidated PAT, post minority interest, stood at Rs. (13) crores as against Rs. (20) crores in Q1 FY21

Commenting on the performance, Mr. Arvind Subramanian, Managing Director & Chief Executive Officer, Mahindra Lifespace Developers Ltd., said, "We have done industry's first zero‐touch digital launch of our next project in Palghar in the MMR area. We have been overwhelmed by the customer response. Across our portfolio, sales momentum has picked up in Q2 as unlocks have been announced. Even in integrated cities and industrial clusters business, we have seen few land leases and improvement in lead pipeline. As the momentum continues to improve further, we are getting ready for further new project launchesin H2 and hope to see continued momentum in sales."

KEY HIGHLIGHTS FOR Q2FY21

- Launch of new affordable housing project at Palghar comprising 485 units
- Achieved sales of Rs. 115 crores (0.16 msft) in residential business.
- Attained collections of Rs. 134 crores in residential business.
- Leased 8.1 acres for Rs. 21.3 crores in Integrated Cities and Industrial Clusters business.
- Consolidated cost of debt stood at 7.35%; standalone cost of debt stood at 6.5%.

Notes:

1. 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.

2. The operational highlights include the performance of the Company and its subsidiaries / joint ventures / associates.

Shares of MAHINDRA LIFESPACE DEVELOPERS LTD. was last trading in BSE at Rs.269.55 as compared to the previous close of Rs. 261.95. The total number of shares traded during the day was 328 in over 54 trades.

The stock hit an intraday high of Rs. 270 and intraday low of 257.45. The net turnover during the day was Rs. 85687.


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com






Other Headlines:

Spandana Sphoorty Financial Limited raises Rs. 100 crore through NCD issue

Agra Etawah Bypass BOT Project receives Completion Certificate

Thomas Cook India launches India's first Virtual Holiday Store

Bank of Baroda files insolvency application against Kesar Terminals & Infrastructure Ltd and subsidiary

Lasa Supergenerics Ltd receives further Injunction from Hon'ble High Court, Bombay restraining its competitor from Manufacturing albendazole

Indinfravit Trust declares distribution of Rs. 2.1598

Kirloskar Electric Company Ltd has laid off balance workmen at Uni5-15

Fire incident at The Ruby Mills Ltd's Dhamni Factory

ICRA updates on ratings of Dixon Technologies (India) Ltd

Gayatri Projects Limited receives Rs. 208 crore arbitral award

Datamatics enters into a buy-back arrangement with Cignex to divest its stake

Shahlon Silk Industries has sold land to reduce debt

Prakash Pipes Limited to issue 35 lakh shares on preferential basis

V2 Retail Ltd opens 2 new retail stores in Bihar and UP

XacBank Mongolia Selects Infosys Finacle to Power its Digital Transformation

Maruti Suzuki Subscribe expands to Mumbai, Chennai, Ahmedabad and Gandhinagar

Newgen Positioned as a Visionary in Gartner Magic Quadrant for Content Services Platforms

Gillanders Arbuthnot and Company Limited enters into MoU for sale of Tengapani Tea Estate

Steel Strips Wheels Ltd receives export orders of nearly 62,000 wheels

EPL Ltd to raise Rs. 50 crore through commercial papers

Infibeam Avenues Collaborates with Bank Muscat, Oman's biggest bank, to offer high-end PG services to merchants in Oman

Wintac Ltd promoters accept discovered price of Rs. 350 for delisting offer

Äbhayam (Abhaya) Project Inaugurated

GMR Kamalanga Energy Ltd ordered to pay Rs. 1005 crore to SEPCO Electric Power Construction Corporation

Jio Platforms Limited receives subscription amount of Rs. 33,737 crore from Google

Central Bank of India Supported to install Police Station at Marine Drive

UN extends contract of Trigyn Technologies Inc for providing IT staffing support service to OICT

Jubilant Industries Limited to sell its portable liquor license to manufacture IMFL

Open Offer to acquire shares of Timex Group India Ltd at Rs. 24.26 per share

Exide Industries Limited raises stake in Exide Leclanche Energy Pvt Ltd to 80.15%

NMDC bags CSR Excellence Awards

Central Bank of India organized Road Show and distributed MASKS

NIIT Earns Two Coveted Learning Technologies 2020 awards jointly with MetLife

Suyog Telematics Limited awarded as Asia's 200 Best under A Billion 2020 by Forbes

Burgan Bank deploys iGTB's Digital Transaction Banking platform with powerful channel capabilities to power its corporate banking expansion strategy

Airtel and Vedantu empower millions of school children with affordable access to quality education on their home TV screens

Biocon Limited to acquire 26% stake in Hinduja Renewables Two Private Limited

Ircon International Ltd bags orders of Rs. 723 crore

Radio City launches the 12th Season of 'Radio City Super Singer'

Recently published data on Favipiravir as treatment for mild to moderate COVID-19 demonstrates significant improvement in time to clinical cure

ICRA reaffirms longterm rating of BEML Limited

Hester Biosciences Nepal launches a Live Thermo-tolerant PPR Vaccine

Sukhjit Starch & Chemicals Ltd's subsidiary to inaugurate Mega Food Park project on Nov 24, 2020

TCS OmniStore™ Named the POS Technology of the Year at the Retail Systems Awards 2020

Strides Pharma Global Pte. Ltd. receives USFDA approval for Prednisone Tablets

Mindtree Partners with the Nordex Group to Drive Forward the Company's Digital Transformation Journey

Vivimed Labs Limited receives product approvals for 3 ophthalmic products, 3 oral liquid suspension products

Max Estate starts construction of commercial realty project Max Square in Noida at Rs 400 crore cost, with New York Life Insurance Company as financial partner

Praj Industries Ltd signs MoU with Petroleum Ministry to facilitate setting up of CGB plants

SREI Infrastructure Finance Ltd plunges on RBI audit



Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2019