Mahindra Lifespace Developers Ltd.'s consolidated net profit rose 46.6% in the third quarter, beating analysts' estimates.
The real estate arm of the Mahindra Group posted a net profit of Rs 50 crore in the quarter ended December, according to an exchange filing on Friday. Analysts tracked by Bloomberg had projected a consensus estimate of Rs 2.3 crore.
Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, today, announced the launch of the second phase of Mahindra Happinest Palghar - 2. Spanning approximately 1.86 acre, the project consists of 260, 1 BHK and 2 BHK apartments, with carpet areas ranging from 390.51 sq. ft. to 542.06 sq. ft. and 47 retail shops. A first-of-its-kind residential project in the Mumbai Metropolitan Region (MMR), Mahindra Happinest Palghar -2 off.
Mahindra Lifespace Developers has decided not to undertake a joint development on a nearly 5-acre land parcel in Mumbais western suburb Dahisar owing to significant delays in fulfilment of certain conditions precedent. The company had finalised the terms for this project in October 2021 and the development was estimated to provide around half a million sq ft of carpet area