Mahindra Lifespace - Stock Goes Ex-Bonus; Remain Constructive: ICICI Direct
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ICICI Direct Report
Mahindra Lifespace Developers Ltd. is the real estate and infrastructure development business of the Mahindra Group.
It has 27.4 million square feet of completed, ongoing and forthcoming residential projects across seven cities and over 5,000 acres of ongoing, forthcoming projects under development at its integrated development/industrial clusters across four locations.
The company has outlined five years plans wherein it aims to achieve sales value of Rs 2500 crore by FY25.
For the same, it is targeting four land transactions every year totalling ~Rs 2,000 crore worth of sales potential.
The Board of Directors of Mahindra Lifespace had in July recommended the bonus issue.
As per the recommendation, shareholders of the company will get two fully paid-up shares of Rs 10 each for every one fully paid-up shares of Rs 10 each.
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