Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development business of the Mahindra Group, announced its financial results for the quarter ended 31st Mar 2022 today. In accordance with IND AS 115, Company recognizes its revenues on completion of contract method.
The consolidated total income stood at Rs. 155 crore as against Rs. 33.3 crore in Q3 FY22 and Rs. 58.1 crore in Q4 FY21. The consolidated PAT, after non-controlling interest, stood at Rs. 136.8 crore as against Rs. 25.0 crore in Q3 FY22 and a loss of Rs. 27.2 crore in Q4 FY21
The consolidated total income stood at Rs. 408.2 crore as against Rs. 187.8 crore in FY21. The consolidated PAT, after non-controlling interest, stood at Rs. 154.5 crore as against a loss of Rs. (71.7) crore in FY21
Commenting on the performance, Arvind Subramanian, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said, “FY22 has been a year of strong growth. Our residential pre-sales grew by almost 50% to Rs 1028 crore while our industrial leasing has grown by 130% to Rs. 298 crore.
Three land acquisitions with a development potential of 3.08 mn square feet and an estimated Gross Development value of around Rs 3800 crore have set us up well for the coming years. We expect to build on this momentum and remain confident of achieving strong business performance over the coming quarters.”
