Mahindra Lifespace Developers Limited has informed the Exchange regarding Outcome of Board Meeting held on July 25, 2025.
MAHLIFE · price
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Mahindra Lifespace Developers reported Q1 FY26 (quarter ended June 30, 2025) results. On a consolidated basis, profit after tax jumped to Rs 51.3 crore versus Rs 12.7 crore in Q1 FY25, with EPS rising to Rs 2.93 from Rs 0.75. Consolidated revenue from operations fell sharply to Rs 32 crore from Rs 188 crore, as the company books revenue only on project completion under Ind AS 115. Standalone results showed a loss after tax of Rs 33.8 crore versus a Rs 23.8 crore loss a year ago. The company completed a Rs 1,494.5 crore rights issue at Rs 257 per share during the quarter, using proceeds to repay debt, acquire land, and fund working capital. The consolidated net debt-to-equity ratio turned negative at -0.23 (net cash), down from 0.45 a year earlier. Operational highlights included GDV additions of Rs 3,500 crore (2.5x year-ago) and IC&IC business revenue growth of 17%, though residential pre-sales dropped to Rs 449 crore from Rs 1,019 crore due to pending approvals. Exceptional gains of about Rs 43 crore (net of tax) from NCD modifications/redemptions in joint ventures (MIPPL and MWC Jaipur) boosted share of profit from associates and JVs to Rs 98 crore. Auditor Deloitte Haskins & Sells LLP issued an unmodified (clean) limited review report.
The Rs 1,494 crore rights issue has meaningfully strengthened the balance sheet, pushing the company into a net cash position, which is positive for future land acquisitions and project execution. Consolidated PAT growth looks strong but is partly supported by one-time exceptional gains in JVs; underlying standalone operations remain in loss, typical for real estate firms using the completed-contract method. Investors should watch for residential launches in coming quarters to confirm whether the lower Q1 pre-sales reverse, while continued IC&IC momentum and strong GDV pipeline support a constructive medium-term outlook.