Mahindra Lifespace Developers, the real estate and infrastructure development business of the Mahindra Group, has reported a growth of 37.17 per cent in its net consolidated profit during the quarter ended December 31, 2022. Its profit after tax (PAT) stood at Rs 34.10 crore in Q3 FY23 as against Rs 24.86 crore it registered in the corresponding quarter of the previous year, the company said in a BSE filing.
The company’s net consolidated income stood at Rs 198.14 crore in Q3 FY23, a growth of 494.66 per cent from Rs 33.32 crore it recorded in the similar quarter last year.
Arvind Subramanian, managing director & CEO of the company said, “Residential presales continues to be strong at Rs 451 crore for the quarter taking us to Rs 1,452 crore for the nine-month period. Our industrial leasing clocked Rs 69 crore for the quarter and Rs 255 crore for nine months, underlining the rebound of manufacturing investments in the country.”
The company achieved sales of Rs 1,452 crore with saleable area of about 1.73 million sq ft in residential business during 9M FY23. Its collections stood at Rs 861 crore during the said period.
