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Mahindra Lifespace Sales Surge 66% Amidst Housing Demand
29 Oct
Summary
- Sales bookings rose 66% to Rs 1,988 crore in the first half.
- Second quarter bookings increased to Rs 1,063 crore from Rs 752 crore.
- Net profit for September quarter was Rs 16.34 crore despite higher tax.
Mahindra Lifespace Developers Ltd has reported a substantial 66% increase in sales bookings, reaching Rs 1,988 crore for the first half of the current fiscal year. This growth is attributed to enhanced housing demand across the country.
During the second quarter of the fiscal year, the company's sales bookings grew to Rs 1,063 crore, a significant rise from Rs 752 crore recorded in the same period last year. This upward trend indicates strong market performance.
In the September quarter, Mahindra Lifespace's net profit stood at Rs 16.34 crore. While tax expenses saw an increase to approximately Rs 33 crore from Rs 3 crore in the prior year, the total income for the quarter surged to Rs 104.02 crore from Rs 33.06 crore.
For the first six months of this fiscal year, the company's net profit grew to Rs 101.89 crore from Rs 99.17 crore in the year-ago period. Concurrently, total income saw a dramatic jump to Rs 1,081.56 crore from Rs 73.67 crore.
