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Business Standard

Mahindra Lifespaces Q4 results: Net profit grows 19% to Rs 85 crore

The realty arm of the Mahindra Group, Mahindra Lifespace Developers' profit for the fourth quarter of the financial year 2024-25 (Q4FY25) grew by 19.02 per cent year-on-year (Y-o-Y) to Rs 85.1 crore, missing Bloomberg estimates of Rs 103.03 crore. Further, the company's revenue from operations dipped by 35.4 per cent Y-o-Y to Rs 9.24 crore, far behind the estimate of Rs 367.5 crore. Its total expenses stood at Rs 72.04 crore, down by 3.72 per cent Y-o-Y amid construction expenses incurred by the company. The company's pre-sales for the quarter stood at Rs 1,055 crore, down by 2.9 per cent Y-o-Y. It added projects with a gross development value (GDV) of Rs 3,650 crore in Q4FY25 as against Rs 2,040 crore in Q4FY24. The company's revenue from operations for FY25 stood at Rs 463.9 crore, up by about 66.2 per cent, while its profit declined by 37.6 per cent to Rs 61.3 crore. The company's residential pre-sales for FY25 stood at Rs 2,804 crore, up 20.4 per cent Y-o-Y, amid launches of projects – Vista Ph2, IvyLush, Zen, and Green Estates. Across the year, the company added projects with a GDV of Rs 18,100 crore, four times more than the FY24 additions. Amit Kumar Sinha, managing director and chief executive officer, Mahindra Lifespace Developers, said, 'Our IC&IC business also had a strong year with marquee transactions closed during the year. This positions us well to achieve our stated target of Rs 8,000–10,000 crore sales in five years. Further, our balance sheet remains strong with the highest ever operating cash flows and well-controlled net debt to equity.' Sequentially, the company's revenue was down by 94.5 per cent, while it had incurred a loss of Rs 22.5 crore in Q3FY25. The company's net debt-to-equity ratio remained at 0.39 in FY25. Additionally, the company announced a dividend on equity shares at Rs 2.8 per share.