ICICI Direct: Mahindra Lifespace Developers Q2 Update- Big Plans; Execution To Be Key
A worker throws a rope while sitting on the roof bracing on a construction site in Mumbai. (Photographer: Dhiraj Singh/Bloomberg)

ICICI Direct: Mahindra Lifespace Developers Q2 Update- Big Plans; Execution To Be Key


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ICICI Direct Report

Mahindra Lifespace Developers Ltd. reported a weak H1 FY21 performance.

H1 FY21 sales volume saw de-growth of ~41% YoY to 0.24 million square feet (~16% decline in Q2 at 0.16 msf) with sales of Rs 154 crore, down ~32% YoY (~8% YoY growth in Q2 at Rs 115 crore), with Covid-19 led impact on execution, labour availability.

H1 FY21 residential revenues de-grew 87.4% YoY to Rs 69.1 crore with Ebitda loss of Rs 42 crore.

Integrated Cites & Industrial Clusters segment revenues declined 24.9% YoY to Rs 61.6 crore with Ebitda of Rs 34 crore, down 12.8% YoY.

Click on the attachment to read the full report:

ICICI Direct Mahindra Lifespace Developers Update.pdf


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