New Delhi: Realty firm Mahindra Lifespaces Developers Ltd is targeting a sharp growth of Rs 8,000-10,000 crore in its annual sales of housing properties and industrial space by financial year 2027-28 due to rising demand.
Mumbai-based Mahindra Lifespaces sold residential properties and industrial space worth Rs 2,698 crore in the last financial year, while the figure stood at Rs 2,268 crore in the 2022-23 financial year.
According to the latest presentation at an investor meet, Mahindra Lifespaces has mentioned a target of achieving sales of Rs 8,000-10,000 crore in its two segments - residential and industrial parks - in financial year 2027-28.
Mahindra Lifespaces is actively purchasing land and also partnering with landlords to develop residential properties. It has also forayed into redevelopment of housing societies in Mumbai.During the last financial year, Mahindra Lifespaces reported a marginal decline in consolidated net profit at Rs 97.89 crore due to lower income.
Its net profit last year was Rs 101.43 crore.
The company's total income fell from Rs 659.56 crore in 2022-23 to Rs 279.12 crore in the last financial year.
Mahindra Lifespaces is the real estate and infrastructure development business of the Mahindra Group.
Amit Sinha, Managing Director and CEO, Mahindra Lifespace Developers, had said, “We closed FY2014 with our highest ever annual sales due to successful launches throughout the year.,
On the operational front, Mahindra Lifespaces achieved the highest ever pre-sales of Rs 2,328 crore (salable area – 2.47 million sq ft, rare carpet area 1.84 million sq ft) in the residential business during the last financial year.
The company also acquired lease of 119.4 acres of land for industrial business for Rs 370 crore.
Established in 1994, Mahindra Lifespaces' development footprint spans 37.33 million square feet of completed, ongoing and upcoming residential projects across seven Indian cities.
It also has over 5,000 acres of ongoing and upcoming projects under development/management in integrated development/industrial clusters at four locations.
Mumbai-based Mahindra Lifespaces sold residential properties and industrial space worth Rs 2,698 crore in the last financial year, while the figure stood at Rs 2,268 crore in the 2022-23 financial year.
According to the latest presentation at an investor meet, Mahindra Lifespaces has mentioned a target of achieving sales of Rs 8,000-10,000 crore in its two segments - residential and industrial parks - in financial year 2027-28.
Mahindra Lifespaces is actively purchasing land and also partnering with landlords to develop residential properties. It has also forayed into redevelopment of housing societies in Mumbai.During the last financial year, Mahindra Lifespaces reported a marginal decline in consolidated net profit at Rs 97.89 crore due to lower income.
Its net profit last year was Rs 101.43 crore.
The company's total income fell from Rs 659.56 crore in 2022-23 to Rs 279.12 crore in the last financial year.
Mahindra Lifespaces is the real estate and infrastructure development business of the Mahindra Group.
Amit Sinha, Managing Director and CEO, Mahindra Lifespace Developers, had said, “We closed FY2014 with our highest ever annual sales due to successful launches throughout the year.,
On the operational front, Mahindra Lifespaces achieved the highest ever pre-sales of Rs 2,328 crore (salable area – 2.47 million sq ft, rare carpet area 1.84 million sq ft) in the residential business during the last financial year.
The company also acquired lease of 119.4 acres of land for industrial business for Rs 370 crore.
Established in 1994, Mahindra Lifespaces' development footprint spans 37.33 million square feet of completed, ongoing and upcoming residential projects across seven Indian cities.
It also has over 5,000 acres of ongoing and upcoming projects under development/management in integrated development/industrial clusters at four locations.
