Broker's call: Mahindra Lifespaces (Buy)
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Updated on
CMP: ₹494.60
Mahindra Lifespaces Developers Ltd (MLDL) reported operationally strong quarter with pre-sales value/volume growing 77 per cent/67 per cent sequentially to ₹350 crore, driven by four new launches. For FY21, MLDL registered de-growth in pre-sales value/volume of 15 per cent/25 per cent as H1-FY21 was impacted due to Covid-19.
Labour availability has reduced to 60 per cent and is expected to ramp up by Q1-FY22 end as Covid-19 impact reduces. Over last 9M, MLDL has added 3 land parcels with nearly ₹1,500 crore pre-sales potential and is in advance stages of negotiation on land parcels with preslaes potential of ₹4,500 crore.