Mahindra Lifespace Sees Turnaround in Financial Performance

Mahindra Lifespace Developers Limited reported a consolidated net loss of Rs 14.01 crore for Q2 of the current fiscal year. Despite lower income compared to the previous year, a net profit of Rs 98.30 crore was recorded for 2023-24. The company is a significant entity in India's real estate industry.

Mahindra Lifespace Developers Limited, a key player in the Indian real estate sector, has revealed a consolidated net loss of Rs 14.01 crore for the second quarter of the current fiscal year, attributed to decreased income.

In the same period last year, the company reported a slightly higher net loss of Rs 18.93 crore. The total income for the July-September quarter fell to Rs 16.96 crore from Rs 26.70 crore in the previous year, based on their latest regulatory filing.

During the first half of this fiscal year, the realty firm recorded a net loss of Rs 1.27 crore, a significant improvement from the Rs 23.20 crore loss in the corresponding period last year. Total income surged to Rs 222.66 crore, up from Rs 136.76 crore. For the year 2023-24, Mahindra Lifespace achieved a net profit of Rs 98.30 crore on income totaling Rs 279.12 crore.

(With inputs from agencies.)