Mahindra Lifespaces Q1 pre-sales Rs 345 crore, industrial land leasing Rs 14 crore

economictimes.indiatimes.com:

Mahindra Lifespace Developers, the real estate and infrastructure development business of the Mahindra Group, has clocked pre-sales of Rs 345 crore and industrial land leasing worth Rs 14 crore during the quarter ended June. The company has reported a net loss of Rs 4.3 crore In the June quarter against a profit of Rs 75.4 crore a year ago.

The developer has sold 4.2 lakh sq ft residential area and collections Its collections in residential business stood at Rs 276 crore. “We are optimistic about the launches lined up in upcoming quarters.

We are gearing up for a 5X growth in our business over the next 5 years. We have a strong commitment from Mahindra Group to support this aspiration.

We have built a strong business development and launch pipeline, which gives us multi-year benefits,” said Amit Sinha, MD & CEO, Mahindra Lifespace Developers. According to him, the industrial leasing pipeline for the rest of the year is looking robust, primarily driven by multiple initiatives by the central and the state governments and the company expects to deliver strong performance in the coming quarters.