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economictimes.indiatimes.com / 1 year ago
economictimes.indiatimes.com / 1 year ago
Goldman Sachs offloads Rs 28 crore worth stake in Mahindra Lifespace through block deal
Mahindra Lifespace Developers on Wednesday by selling over 8.45 lakh shares via a block deal. The shares were sold at a price of Rs 330.31 per share taking the share sale value to approximately Rs 28 crore.
Goldman Sachs held 22,97,645 shares representing 1.48% equity in the company as on December 31, 2024.
Mahindra Lifespace stock witnessed another block deal wherein Graviton Research Capital LLP sold 10.77 lakh shares worth Rs 36.38 crore. The shares were sold at price of Rs 337.5 apiece.
Shares of Mahindra Lifespace Developers ended today's session at Rs 327.30 on the BSE, gaining by Rs 15.65 or 5.02% over the Tuesday closing price.
The selling comes amid a prolonged underperformance seen in the counter. The stock has gone down by 40% in the past 12 months while declining 29% in 2025, so far. On the other hand, Sensex has gained by 5% in the past 1 year while reporting a 4% loss in 2025 on the year-to-date basis.
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The stock has slipped below its 50-day and 200-day simple moving averages (SMAs) of Rs 371 and Rs 500, respectively according to Trendline data.
Mahindra Lifespace Developers reported a consolidated loss of Rs 22.5 crore in the December ended quarter versus a net profit of Rs 50 crore in the year ago period. However, the consolidated revenue grew to Rs 185.8 crore in Q3FY25 versus Rs 88.8 crore in the corresponding quarter of the previous financial year. This translates into a 109% YoY jump.
Mahindra Lifespace Developers is a real estate company of the Mahindra Group. It boasts of 53
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