Mahindra Lifespace Developers Q4FY22 result : Profit recovered to ₹154 Cr from loss YoY| Dividend declared of ₹2

Recommended dividend of ₹2 (i.e., 20%) per share on the equity shares of ₹10 each for the financial year ended on March 31, 2022

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Mahindra Lifespace Developers Ltd. is an Indian real estate and infrastructure development company headquartered in Mumbai, India. The company is engaged in residential developments under the Mahindra Lifespaces and Happinest brands; and integrated cities and industrial clusters under the ‘Mahindra World City’ and ‘ORIGINS by Mahindra World City’ brands.

In 2001, GESCO Corporation and Mahindra Realty & Infrastructure Developers Ltd (MRIDL) demerged the realty and infrastructure divisions of MRIDL and merged it into GESCO.[6] In 2007, the Company name was changed from Mahindra GESCO Developers Limited to Mahindra Lifespace Developers Ltd. (MLDL), and the company has posted its Q4FY22 and year ended financial results today, the details are as below :

(I) Audited Consolidated Financial Results for Quarter Ended (YoY comparison):

The company has reported, a consolidated Total Income of ₹155.02 crore in the quarter ended on March 31, 2022 as against ₹58.12 crore in the corresponding quarter ended last year on Mar 31, 2021, increased by 166.72%.

The company has posted a consolidated Net Profit of ₹137.09 crore in the quarter ended on March 31, 2022 as against Loss of ₹(27.61) crore in the corresponding quarter ended in last year on Mar 31, 2021. The PAT recovered by 596.52%.

The status of the EPS of the company stood at ₹8.88 as on March 31, 2022 compared to the previous quarter ended on Mar 31, 2021 which was ₹(1.80), recovered by 593.34%.

₹*Mar 31, 2022 (Q4FY22)Dec 31, 21 (Q3FY22)Mar 31, 21 (Q4)
Total Income155.0233.3258.12
Total Expenses201.2266.2196.62
PBT /(Loss)77.9516.88(33.62)
Total Tax /(credit)(59.71)(7.98)(5.83)
PAT /(Loss)137.0925.02(27.61)
*figures are in Crores

(II) Audited Consolidated Financial Result details for the Year Ended :

The company has reported, a consolidated Total Income of ₹408.24 crore in the financial year ended on March 31, 2022 as against ₹187.82 crore for the financial year ended on Mar 31, 2021, increased by 117.35%.

The company has posted a consolidated Net Profit of ₹154.76 crore in the financial year ended on March 31, 2022 as against Loss of ₹(71.72) crore for the financial year ended on March 31, 2021. The PAT recovered by 315.78%.

The status of the EPS of the company stood at ₹10.43 as on March 31, 2022 compared to the previous year ended on March 31, 2021 which was ₹(4.64), recovered by 324.78%.

₹*Mar 31, 2022 (FY22)Mar 31, 2021 (FY21)
Total Income408.24187.82
Total Expenses496.06277.71
PBT /(Loss)99.28(77.78)
Total Tax /(credit)(62.43)(6.33)
PAT /(Loss)154.76(71.72)
*figures are in Crores
Market Times

(III) Key Highlights about the Performance :

  • Dividend : Recommended dividend of ₹2 (i.e., 20%) per share on the equity shares of ₹10 each for the financial year ended on March 31, 2022. The dividend on Equity Shares, if declared at the ensuing Annual General Meeting(“AGM”), will be credited/ dispatched within five working days from the date of AGM;

HIGHLIGHTS FOR FY22:
• Finalised 3 land acquisitions having development potential of approximately 3.08 msft with estimated GOV in excess of Rs 3800 crore
• Achieved sales of Rs. 1028 crore (1.28 msft) in residential business
• Launched 1.27 msft across 2 new projects and 4 subsequent phases
• Attained collections of Rs. 1153 crore in residential business
• Completed 1.30 msft of projects and delivered 925 units to customer across various projects
• Leased 110.6 acres of land for Rs. 298 crore In Integrated Cities and Industrial Clusters business
• Consolidated cost of debt stood at 6.52%; standalone cost of debt stood at 5.67%%

HIGHLIGHTS FOR Q4 FY22:
• Signed a binding agreement to acquire land of 9.2 acres in Kand1vali from M&M ltd, having development potential of around 1.7 msft with estimated GOV of ~Rs 2400 crore
• Achieved sales of Rs. 328 crore in residential business
• Launched new value homes project at Kalyan, Mahindra Happinest Kalyan 2 and further phases across Alcove and Vicino with saleable area of 0.96 msft.
• Attained collections at Rs. 308 crore in residential business
• Completed 0.56 msft of projects across Palghar, Centralis and Lakewoods and handed over 229 units
• Leased 25 acres of land in the industrial parks business for Rs. 70.5 crore

The stock of Mahindra Lifespace Developers last hit in BSE,

  • Intraday High of ₹ 379.00
  • Intraday low of ₹ 364.35