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Mahindra Lifespace Developers Limited (MLDL) reported its Q3 FY25 financial results, highlighting pre-sales of INR 1,749 crore over 9M FY25, covering 2.15 million sq. ft. in saleable area. The company added INR 14,050 crore in Gross Development Value (GDV), driven by a 37-acre Bhandup land acquisition and an 8-acre plot near Bengaluru Airport. Revenue from land leasing in the Industrial and Commercial (IC&IC) business reached INR 208.9 crore, leasing 47.3 acres in FY25. Despite total income rising to INR 408.4 crore, MLDL posted a consolidated loss of INR 23.8 crore due to higher costs. The company remains committed to sustainable, future-ready developments in emerging real estate hubs.
Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure arm of the Mahindra Group, announced its financial results for the quarter ending December 31, 2024. The company recognizes revenues under INDAS 115, following the contract completion method. In terms of residential business, MLDL recorded pre-sales of INR 1,749 crore over 9 months of FY25, covering a saleable area of 2.15 million square feet and RERA carpet area of 1.62 million square feet. Q3 FY25 pre-sales stood at INR 334 crore, with a saleable area of 0.45 million square feet and RERA carpet area of 0.33 million square feet. Although Q3 pre-sales were slower than last year, the company's sustained focus on ongoing projects kept it on track. Advertisement
In a noteworthy achievement, MLDL recorded significant GDV additions, totaling INR 14,050 crore for 9M FY25, compared to INR 2,360 crore in 9M FY24. This growth was propelled by the addition of a 37-acre land parcel in Bhandup for residential, commercial, and retail development, with a GDV potential of INR 12,000 crore. Furthermore, post-quarter, the company acquired an 8-acre land parcel near Bengaluru Airport, with an estimated GDV of INR 1,000 crore.
Collections from residential business reached INR 1,365 crore in 9M FY25, reflecting an increase from INR 973 crore during the same period last year. MLDL also generated INR 208.9 crore in revenue through land leasing in its Industrial and Commercial (IC&IC) business, leasing 47.3 acres of land in FY25. In Q3 FY25, 12.4 acres were leased for INR 45.7 crore. The consolidated total income for the company stood at INR 408.4 crore in 9M FY25, up from INR 224.5 crore in 9M FY24. For Q3 FY25, total income was INR 185.8 crore, showing significant growth from INR 88.8 crore in Q3 FY24 and INR 16 crore in Q2 FY25.
However, despite the growth in income, the company reported a consolidated loss of INR 23.8 crore after non-controlling interest for 9M FY25, compared to a profit of INR 26.8 crore in 9M FY24. The Q3 loss after non-controlling interest was INR 22.5 crore, which is an improvement from a profit of INR 50 crore in Q3 FY24 and a loss of INR 14 crore in Q2 FY25.
In addition to strong financial performance, Mahindra Lifespace Developers remains committed to sustainable and future-ready urban development. The company's strategic land acquisitions in high-demand areas such as near Bengaluru Airport reflect its vision to capitalise on emerging growth hubs. This aligns with Mahindra Group's larger sustainability goals and its efforts to deliver eco-friendly and energy-efficient living spaces, as sustainability becomes an increasingly important consideration for homebuyers and investors alike.
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