Mahindra Lifespace Developers Limited Reports Earnings Results for the Third Quarter and Nine Months Ended December 31, 2023
February 02, 2024 at 07:56 am EST
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Mahindra Lifespace Developers Limited reported earnings results for the third quarter and nine months ended December 31, 2023. For the third quarter, the company reported sales was INR 819.9 million compared to INR 1,869 million a year ago. Revenue was INR 887.7 million compared to INR 1,981.4 million a year ago. Net income was INR 499.8 million compared to INR 332.1 million a year ago. Basic earnings per share from continuing operations was INR 3.23 compared to INR 2.15 a year ago. Diluted earnings per share from continuing operations was INR 3.22 compared to INR 2.14 a year ago.
For the nine months, sales was INR 1,978 million compared to INR 3,512.4 million a year ago. Revenue was INR 2,245.2 million compared to INR 3,893 million a year ago. Net income was INR 267.6 million compared to INR 1,008.8 million a year ago. Basic earnings per share from continuing operations was INR 1.73 compared to INR 6.53 a year ago. Diluted earnings per share from continuing operations was INR 1.73 compared to INR 6.49 a year ago.
Mahindra Lifespace Developers Limited is an India-based real estate development company. The Company is engaged in developing residential projects in the premium and value housing segments, as well as integrated cities and industrial clusters. Its segments include Projects, Project Management and Development, and Operating of Commercial Complexes. Projects, Project Management & Development segment of the business includes income from sale of residential units across projects, project management and development in India. Operating of Commercial Complexes segment of the business includes rental income from commercial properties at Delhi. Its projects include Roots, Vicino, Alcove, Meridian, Happinest Palghar 1, Happinest Palghar 2, Happinest Kalyan 1, Happinest Kalyan 2, Centralis, Happinest Tathawade, Bloomdale, Luminare, Aqualily, Lakewoods, Happinest Avadi, Happinest MWC and others.