Mahindra Lifespace Developers: From Loss to Profit in One Year

Mahindra Lifespace Developers Ltd posted a consolidated net profit of Rs 47.91 crore in Q2, reversing a Rs 14.01 crore loss from the previous year. The company's total income increased to Rs 33.06 crore. Mahindra Lifespace currently operates across seven cities with projects spanning 53.30 million sq ft.

In a significant financial turnaround, Mahindra Lifespace Developers Ltd announced a consolidated net profit of Rs 47.91 crore for the second quarter of the current fiscal year. This marks a stark contrast to the Rs 14.01 crore net loss reported in the corresponding period last year.

The company's total income also saw a substantial rise, hitting Rs 33.06 crore during the July-September period, up from Rs 15.96 crore in the same timeframe the previous year, according to a regulatory filing released on Friday.

As the real estate arm of Mahindra Group, Mahindra Lifespace boasts a sprawling development footprint, covering 53.30 million sq ft in saleable area across seven Indian cities and managing over 5,000 acres in integrated developments and industrial clusters.

(With inputs from agencies.)