NEW DELHI: Mahindra Lifespace Developers (MLDL), the real estate and infrastructure development business of the Mahindra Group, has reported net consolidated loss after tax of Rs 22.47 crore during the quarter ended December 31, 2024. It had registered profit after tax of Rs 50.02 crore in the corresponding quarter of the previous fiscal, the company said in a BSE filing.
The company’s net consolidated total income stood at Rs 185.77 crore in Q3 FY25, a growth of 109.27 per cent from Rs 88.77 crore it recorded in the similar quarter last year.
Amit Kumar Sinha, managing director & CEO of the company said, “We recorded our highest ever GDV additions during Q3, setting us up very well to achieve 5x growth target. Q3 FY25 pre-sales was primarily driven by sustenance, though it was slow compared to last year.”
As on December 31, 2024, its net worth stood at Rs 1,810.58 crore, debt-equity ratio was 0.68, current liability ratio was 0.76, total debts to total assets was 0.21, operating margin was (15.18%) and net profit margin was (13.43%).
The board of directors of the company have approved the appointment of Vikram Goel as chief business officer
– industrial of the company categorised as senior management personnel with effect from March 10, 2025.
The company achieved pre-sales of Rs 1,749 crore in the residential business (saleable area – 2.15 million sq ft). In Q3 FY25, it recorded pre-sales of Rs 334 crore (saleable area – 0.45 million sq ft).
Gross development value (GDV) additions in 9M FY25 were Rs 14,050 crore as against Rs 2,360 crore in 9M FY24. Additions during the quarter include 37-acre land parcel (JDA) at Bhandup (planned for residential, commercial and retail) with a GDV potential of Rs 12,000 crore. Post the end of the quarter, we acquired an 8-acre land parcel near Bengaluru airport with a GDV potential of Rs 1,000 crore.
Collections stood at Rs 1,365 crore for the 9M FY25 from the residential business as compared to Rs 973 crore for 9M FY24.
