Q1FY22 Company Update - Mahindra Lifespace Developers - ICICI Direct

MLD reported muted Q1FY22 results.

- Sales volume, value was up 1.25x, 2.7x YoY on depressed base at 0.18 msf, Rs. 145 crore, respectively. QoQ, sales value declined 58%, with second wave impact & no new launches. Collections at Rs. 204 crore were up 1.8x YoY

- On the financial front, revenues were up 9.2x YoY at Rs. 148.2 crore on superior recognition in residential segment. Losses were at Rs. 13.9 crore

Key triggers for future price performance

- Robust launch pipeline and unsold inventory with Rs. 2,593 crore of potential cash flow

- Huge captive land bank and expansion plans to spend Rs. 500 crore each year on land having potential to generate annual sales of ~Rs. 2,000 crore

- Recent management changes lend diverse expertise and scale

- IC & IC business to benefit from PLI/manufacturing push

- Borrowing cost lowest among peers- a huge competitive advantage

For details, click on the link below: Link to the report

Shares of Mahindra Lifespace Developers Ltd. was last trading in BSE at Rs. 792.55 as compared to the previous close of Rs. 806.2. The total number of shares traded during the day was 16915 in over 1857 trades.

The stock hit an intraday high of Rs. 821.8 and intraday low of 781. The net turnover during the day was Rs. 13633666.

Source : Equity Bulls

Keywords