Real estate company Mahindra Lifespace Developers Ltd. has set an ambitious goal to significantly boost its annual sales of residential and commercial space. The Mumbai-based company plans to achieve sales of Rs 80-10 billion by the fiscal year 2027-2028, up from the Rs 2,698 crore it sold in the most recent fiscal year.
In its recent presentation at an investor meeting, Mahindra Lifespace highlighted two key verticals: an industrial park and a residential area. These verticals are expected to generate revenues between Rs 80 and Rs 10 billion in the fiscal year 2027-2028.
Bolstering Land Acquisition and Collaboration for Residential Properties: To fuel its growth plans, Mahindra Lifespace is actively pursuing aggressive land acquisition strategies and collaborating with landlords to develop residential properties. The company recognizes the growing demand in the real estate market and aims to meet it by expanding its development footprint.
Focusing on Mumbai Housing Societies Renovations: In addition to its land acquisition efforts, Mahindra Lifespace has commenced renovation projects in Mumbai’s housing societies. This strategic move allows the company to tap into the existing infrastructure and cater to the needs of urban dwellers.
Slight Decrease in Net Profit despite Decreased Revenue: Despite a decrease in revenue, Mahindra Lifespace saw a slight dip in its consolidated net profit for the previous fiscal year. The net profit went from Rs 1.01 billion to Rs 0.97 billion. However, the company’s leadership remains positive about its overall performance and future growth potential.
Record-Breaking Sales Achieved: Amit Sinha, the Managing Director and CEO of Mahindra Lifespace Developers, expressed satisfaction with the company’s performance during the previous fiscal year. He mentioned that Mahindra Lifespace achieved its highest ever annual sales, driven by successful project launches throughout the year. On the operational front, the company reached new milestones. The residential business achieved its highest ever pre-sales of Rs 23 billion during the last fiscal year, covering a saleable area of 2.47 million square feet and a RERA carpet area of 1.84 million square feet. Moreover, Mahindra Lifespace secured land leasing of 119.4 acres in the industrial business, amounting to Rs 3.70 billion.
Growing Development Footprint: Established in 1994, Mahindra Lifespace has established an extensive development footprint to cater to the increasing demands of the market. To date, the company has completed, ongoing, and forthcoming residential projects spanning 37.33 million square feet across seven Indian cities. Additionally, Mahindra Lifespace has over 5,000 acres of ongoing and forthcoming projects under development or management. These projects are spread across its integrated developments and industrial clusters located in four different locations. As Mahindra Lifespace looks to the future, the company’s focus on aggressive growth, strategic collaborations, and expanding its development footprint positions it to capture the evolving real estate market and meet the growing needs of consumers in India’s rapidly expanding urban areas.
