Mahindra Lifespace Developers has acquired 7.89 acres of land to develop a residential project in Kanakpura Road, Bengaluru.
The project will offer approximately 5 lakh sq. ft. of carpet area. The launch of the project is planned for FY 2022. Kanakpura Road is a prominent residential hub in Bengaluru and one of the city s relatively greener areas.
Arvind Subramanian, Managing Director and Chief Executive Officer, Mahindra Lifespace Developers., said, Bengaluru is one of the most stable residential real estate markets in India and a priority city for the growth of our residential business.
The announcement was made after market hours yesterday, 25 February 2021. Shares of Mahindra Lifespace Developers gained 4.25% to settle at Rs 510.05 yesterday.
Read more about Siemens Q1 PAT up 10% YoY to Rs 290 cr on Business Standard. Siemens reported 10.4% rise in standalone net profit to Rs 290 crore on a 15.9% increase in net sales to Rs 2858.20 crore in Q1 December 2020 over Q1 December 2019.
Mahindra & Mahindra (M&M) reported 40% jump in net profit to Rs 530.86 crore on a 16% rise in revenues to Rs 14,056.54 crore in Q3 FY21 over Q3 FY20.
The results include the combined earnings of M&M and Mahindra Vehicle Manufacturers (MVML), which is a manufacturing unit of M&M.
The company recorded an exceptional expense of Rs 1213.98 crores for the quarter ended 31 December 2020, which represents impairment provisions for certain long-term assets and other exposures.
Profit before tax in Q3 December 2020 stood at Rs 1025.30 crore, up by 31.1% from Rs 782.08 crore in Q3 December 2019. Tax expense during the quarter increased by 23% year-on-year (YoY) to Rs 494.44 crore.
Read more about Cyient spurts after strong Q3 performance on Business Standard. Cyient surged 11.63% to Rs 566.45 after the IT firm s net profit rose 13.8% to Rs 95.4 crore on a 4.1% increase in revenue to Rs 1044.3 crore in Q3 FY21 over Q2 FY21.
At meeting held on 20 January 2021The Board of HDFC Asset Management Company at its meeting held on 20 January 2021 approved the appointment of Navneet Munot (DIN: 05247228) as the Managing Director and Chief Executive Officer of the Company, effective from 16 February 2021 upto 30 June 2024, subject to approval of the shareholders of the Company. The Board also appointed Rushad Abadan (DIN: 08035538) as an Additional Director (Non-Executive Non-Independent) on the Board of Directors of the Company, liable to retire by rotation, effective from 21 January 2021.
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