Mahindra Lifespaces Q1 net profit at Rs 13.8 crore

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For the quarter ended June 30, Mahindra Lifespaces registered net profit  at Rs 13.8 crore, while total income stood at Rs. 148.7 crores.

The net profit was down by 49%. For the quarter, the company raised Rs. 300 crore.

In Q1, the company sold 255 units worth Rs. 138 crores in the residential space. The Company has handed over 360 units across 8 projects in the first quarter including at its affordable housing project, Happinest in Boisar, Mumbai. For nearly six projects, the Company is currently awaiting approvals and will launch after relevant approvals.

Anita Arjundas, Managing Director, Mahindra Lifespace Developers Ltd., said, “For the quarter, there was some impact on because of regulatory changes. The changes will remain positive for the medium to long term period to grow its business across segments. ”

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