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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BQ Blue’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 BloombergQuint’s subscribers an opportunity to expand their understanding of companies, sectors and the economy.

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.

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ICICI Direct Mahindra Lifespace Developers Update.pdf

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