Mahindra Lifespace Targets Rs 8-10K Crore Sales in Housing and Industrial Sectors by FY28
Mahindra Lifespace Developers Ltd, a Mumbai-based real estate firm, plans to significantly boost its annual sales of residential properties and industrial space to between Rs 8,000-10,000 crore by the fiscal year 2027-28. This target comes as demand rises in both sectors.
Strategic Initiatives
In the past fiscal year, Mahindra Lifespace sold residential properties and industrial space worth Rs 2,698 crore, up from Rs 2,268 crore the previous year. The company outlined its ambitious sales goal during an investor presentation, focusing on growth in its residential and industrial park segments.
To achieve this, Mahindra Lifespace is actively acquiring land and forming partnerships for residential development. It has also ventured into the redevelopment of housing societies in Mumbai.
Despite a slight decrease in consolidated net profit to Rs 97.89 crore due to lower income, the company remains optimistic. Total income fell to Rs 279.12 crore from Rs 659.56 crore in the previous fiscal year.
Record Achievements in FY24
Mahindra Lifespace, a part of the Mahindra Group, reported its highest-ever annual sales in FY24 driven by successful project launches. The company achieved record pre-sales of Rs 2,328 crore in its residential business, covering 2.47 million square feet of saleable area.
In its industrial business, Mahindra Lifespace secured land leasing agreements totaling 119.4 acres for Rs 370 crore. The firm has a substantial development footprint across seven Indian cities, with ongoing and forthcoming projects spanning over 5,000 acres.
Established in 1994, Mahindra Lifespace continues to expand its presence in residential and industrial developments, aiming for robust growth in the coming years.
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