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Indian Market
Mahindra Lifespace Developers: Impressive Q4 FY2024 Net Profit Surge Amid Revenue Decline
Tanushree Jaiswal
29th April 2024 - 09:39 am
Key Highlights
- Mahindra Lifespace Developers reported a total income of ₹279.15 cr for FY2024.
- Consolidated Net profit was marked at ₹97.89 cr for FY2024 against ₹101.43 cr in FY2023, down by 3.49%.
- The company achieved the highest pre-sales in FY2024.
Business Highlights
- Mahindra Lifespace Developers reported an 1193.64% increase in net profit for Q4 FY2024 at ₹71.15 cr from ₹55 lakh in Q4 FY2023.
- Its revenue for FY2024 was Rs 279.12 cr against ₹659.56 cr in FY2023, down by 57.68%.
- Its revenue for Q4 FY2024 was ₹54.60 cr compared to ₹270.26 cr in Q4 FY2023, down by almost 80%.
- For FY2024, its GDV (gross development value) for its business development segment was ₹4400 cr.
- The company also achieved the highest pre-sales in FY2024 at ₹2328 cr.
Commenting on the results, Amit Sinha, Managing Director & CEO, Mahindra Lifespace Developers, said, “We closed FY24 with our highest ever annual sales driven by successful launches throughout the year.” He added, “The company closed 2023-24 fiscal year with over Rs 4,400 crore of GDV (gross development value) in its business development.”
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