Mahindra Lifespaces Q3 Results Review - Progressing Well On The Growth Path: Motilal Oswal

BQ Prime’s special research section collates quality and in-depth equity and economy research reports from across India’s top brokerages, asset managers and research agencies. These reports offer BQ Prime’s subscribers an opportunity to expand their understanding of companies, sectors and the economy. .Motilal Oswal Report.Mahindra Lifespace Developers Ltd. reported bookings of Rs 4.5 billion, up 80% YoY and 13% QoQ, driven by strong response to 1.1 million square feet of launches. For nine months-FY23, pre-sales doubled to Rs 14.5 billion and is already 40% higher than FY22 run-rate. Mahindra Lifespace launched four projects/phases with saleable area of 1.1 msf, including the re-launch of Happinest Kalyan 2. Phase launch of Eden, Kanakpura received strong response with bookings of Rs 2 billion. In totality, new launches contributed Rs 3.5 billion to overall pre-sales (78% of total). Traction in the integrated cities and industrial clusters segment remained steady with leasing of 24acres at an average realisation of Rs 28 million, leading to total lease income of Rs 690 million. The management highlighted that it is in active discussion for another 50 acre of leasing, which is expected to close over the next two quarters. Collections declined 35% on a high base to Rs 3 billion, but was largely in line with Q2 FY23 numbers. Construction spend stood at Rs 0.9 billion for the quarter. Consolidated net debt increased to Rs 3.7 billion from Rs 2.9 billion in Q2 FY23 due to increase in residential segment debt..Click on the attachment to read the full report:.Godrej Properties Q3 Results Review - Strong Business Development To Drive Growth: Motilal Oswal.DISCLAIMERThis report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime..Users have no license to copy, modify, or distribute the content without permission of the Original Owner.

Mahindra Lifespaces Q3 Results Review - Progressing Well On The Growth Path: Motilal Oswal

We believe continued traction in business development will provide further growth visibility in the residential segment.

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