Mahindra Lifespace Developers, has finalised terms for a joint development on a 4.8-acre land parcel in Dahisar East, Mumbai, the company said in a BSE filing.This is company’s first project in Dahisar and will offer approximately 5 lakh sq. ft. of carpet area.
“Our foray into Dahisar is in line with our focus on high performing micro-markets with strong demand for projects by trusted brands. We have seen success with this strategy and will continue to expand our residential business in well-established suburbs with a track record of quick absorption,” said Arvind Subramanian, MD & CEO of the company.
The company recently reported a consolidated net profit of Rs 13.23 crore for the quarter ended September 2021. Its net consolidated total income stood at Rs 65.70 crore in Q2 FY22, a growth of 75 per cent from Rs 37.42 crore it registered in the similar quarter last year.
Consolidated cost of debt stood at 6.7% while standalone cost of debt stood at 5.7%. The company has market capitalisation of Rs 4,258 crore as of September 30, 2021.
Mahindra Lifespaces to jointly develop 4.8-acre land parcel in Dahisar East
The project will offer approximately 5 lakh sq. ft. of carpet area. Mahindra Lifespaces recently reported a consolidated net profit of Rs 13.23 crore for the quarter ended September 2021.
