Mahindra Lifespace Developers Limited Reports Earnings Results for the Second Quarter and Six Months Ended September 30, 2023
October 27, 2023 at 05:44 am EDT
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Mahindra Lifespace Developers Limited reported earnings results for the second quarter and six months ended September 30, 2023. For the second quarter, the company reported sales was INR 177.7 million compared to INR 697.9 million a year ago. Revenue was INR 257 million compared to INR 738.2 million a year ago. Net loss was INR 189.5 million compared to INR 77.4 million a year ago. Basic loss per share from continuing operations was INR 1.22 compared to INR 0.5 a year ago. Diluted loss per share from continuing operations was INR 1.22 compared to INR 0.5 a year ago.
For the six months, sales was INR 1,158.1 million compared to INR 1,643.4 million a year ago. Revenue was INR 1,357.5 million compared to INR 1,911.6 million a year ago. Net loss was INR 232.4 million compared to net income of INR 676.7 million a year ago. Basic loss per share from continuing operations was INR 1.5 compared to basic earnings per share from continuing operations of INR 4.38 a year ago. Diluted loss per share from continuing operations was INR 1.5 compared to diluted earnings per share from continuing operations of INR 4.35 a year ago.
Mahindra Lifespace Developers Limited is an India-based real estate development company. The Company is engaged in developing residential projects in the premium and value housing segments, as well as integrated cities and industrial clusters. Its segments include Projects, Project Management and Development, and Operating of Commercial Complexes. Projects, Project Management & Development segment of the business includes income from sale of residential units across projects, project management and development in India. Operating of Commercial Complexes segment of the business includes rental income from commercial properties at Delhi. Its projects include Roots, Vicino, Alcove, Meridian, Happinest Palghar 1, Happinest Palghar 2, Happinest Kalyan 1, Happinest Kalyan 2, Centralis, Happinest Tathawade, Bloomdale, Luminare, Aqualily, Lakewoods, Happinest Avadi, Happinest MWC and others.