Mumbai, January 31, 2025 – Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, has announced its financial results for the quarter ending December 31, 2024. The company recognizes its revenues based on the completion of contracts, as per INDAS 115.
Key Financial Highlights: 9M FY25 & Q3 FY25
- The company recorded pre-sales of Rs 1,749 crore in its residential business, covering a saleable area of 2.15 million square feet (msft) and a RERA carpet area of 1.62 msft. For Q3 FY25, pre-sales stood at Rs 334 crore (saleable area: 0.45 msft, RERA carpet area: 0.33 msft).
- The gross development value (GDV) additions reached Rs 14,050 crore for 9M FY25, a significant increase from Rs 2,360 crore in 9M FY24.
- The company acquired a 37-acre joint development agreement (JDA) land parcel in Bhandup, planned for residential, commercial, and retail development, with a GDV potential of Rs 12,000 crore.
- Post-Q3, Mahindra Lifespaces secured an 8-acre land parcel near Bengaluru airport, with a GDV potential of Rs 1,000 crore.
- Collections from the residential business stood at Rs 1,365 crore for 9M FY25, compared to Rs 973 crore in 9M FY24.
- Revenue from industrial land leasing in the Integrated Cities & Industrial Clusters (IC&IC) business amounted to Rs 208.9 crore for 9M FY25, covering 47.3 acres. In Q3 FY25, 12.4 acres were leased for Rs 45.7 crore.
- Consolidated total income reached Rs 408.4 crore in 9M FY25, up from Rs 224.5 crore in 9M FY24. In Q3 FY25, total income stood at Rs 185.8 crore, a rise from Rs 88.8 crore in Q3 FY24 and Rs 16.0 crore in Q2 FY25.
- The company reported a consolidated loss of Rs 23.8 crore in 9M FY25, compared to a profit of Rs 26.8 crore in 9M FY24. The Q3 FY25 consolidated loss stood at Rs 22.5 crore, against a profit of Rs 50.0 crore in Q3 FY24 and a loss of Rs 14.0 crore in Q2 FY25.
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Management Commentary
Amit Kumar Sinha, Managing Director & CEO of Mahindra Lifespaces, highlighted the company’s progress, stating, “We achieved our highest-ever GDV additions in Q3, positioning us well for our target of 5x growth. While Q3 FY25 pre-sales were primarily driven by sustenance sales and were slower than last year, our new project IvyLush has received a positive response. We are preparing for planned launches in Q4 FY25 across key markets. Our IC&IC business continues to benefit from strong macroeconomic trends.”
About Mahindra Lifespace Developers Ltd.
Established in 1994, Mahindra Lifespaces is the real estate and infrastructure development arm of the Mahindra Group. The company has a development footprint spanning 39.44 million square feet of completed, ongoing, and upcoming residential projects across seven cities in India. Additionally, it manages over 5,000 acres of integrated developments and industrial clusters across four locations.
Mahindra Lifespaces’ portfolio includes premium residential projects, value homes under the ‘Mahindra Happinest®’ brand, and industrial clusters under ‘Mahindra World City’ and ‘Origins by Mahindra.’ Committed to sustainability, the company has maintained a 100% green-certified portfolio since 2014 and aims for carbon neutrality by 2040. It also pioneered Net Zero Energy homes in India and has launched three Net Zero residential developments.
For more information, visit www.mahindralifespaces.com.
