Mahindra Lifespaces today announced a consolidated profit of Rs. 154.5 crore in FY22, along with the quarter results for Q4 FY22.

Mahindra Lifespaces^® achieves consolidated profit of Rs. 154.5 crore in FY22 , 50% growth in residential pre-sales to Rs. 1028 crore 

Mumbai, April 27, 2022 (GNI) Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development business of the Mahindra Group, announced its financial results for the quarter ended 31^st Mar 2022 today. 

In accordance with IND AS 115, Company recognizes its revenues on completion of contract method. 

FINANCIAL HIGHLIGHTS  

FOR Q4 FY22: 

• The consolidated total income stood at Rs. 155 crore as against Rs. 33.3 crore in Q3 FY22 and Rs. 58.1 crore in Q4 FY21 
• The consolidated PAT, after non-controlling interest, stood at Rs. 136.8 crore as against Rs. 25.0 crore in Q3 FY22 and a loss of Rs. 27.2 crore in Q4 FY21 

FOR FY22: 

• The consolidated total income stood at Rs. 408.2 crore as against Rs. 187.8 crore in FY21 
• The consolidated PAT, after non-controlling interest, stood at Rs. 154.5 crore as against a loss of Rs. (71.7) crore in FY21 
  
   
• Commenting on the performance, Mr. Arvind Subramanian, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said, “FY22 has been a year of strong growth. Our residential pre-sales grew by almost 50% to Rs 1028 crore while our industrial leasing has grown by 130% to Rs. 298 crore.  Three land acquisitions with a development potential of 3.08 mn square feet and an estimated Gross Development value of around Rs 3800 crore have set us up well for the coming years.  We expect to build on this momentum and remain confident of achieving strong business performance over the coming quarters,” stated in the press release.

HIGHLIGHTS FOR FY22: 

• Finalised 3 land acquisitions having development potential of approximately 3.08 msft with estimated GDV in excess of Rs 3800 crore 
• Achieved sales of Rs. 1028 crore (1.28 msft) in residential business 
• Launched 1.27 msft across 2 new projects and 4 subsequent phases 
• Attained collections of Rs. 1153 crore in residential business 
• Completed 1.30 msft of projects and delivered 925 units to customer across various projects  
• Leased 110.6 acres of land for Rs. 298 crore in Integrated Cities and Industrial Clusters business 
• Consolidated cost of debt stood at 6.52%; standalone cost of debt stood at 5.67%% 

HIGHLIGHTS FOR Q4 FY22: 

• Signed a binding agreement to acquire land of 9.2 acres in Kandivali from M&M Ltd, having development potential of around 1.7 msft with estimated GDV of ~Rs 2400 crore 
• Achieved sales of Rs. 328 crore in residential business  
• Launched new value homes project at Kalyan, Mahindra Happinest Kalyan 2 and further phases across Alcove and Vicino with saleable area of 0.96 msft. 
• Attained collections at Rs. 308 crore in residential business 
• Completed 0.56 msft of projects across Palghar, Centralis and Lakewoods and handed over 229 units 
• Leased 25 acres of land in the industrial parks business for Rs. 70.5 crore  

Notes: 

1. Company uses carpet areas in its customer communication. However, the data in saleable area terms has been presented here to enable continuity of information to investors and shall not be construed to be of any relevance to home buyers / customers. 
2. The operational highlights include the performance of the Company and its subsidiaries / joint ventures / associates. Ends (GNI)