BQ Prime's special research section collates quality and in-depth equity and economy research reports from across India's top brokerages, asset managers and research agencies. These reports offer BQ Prime's subscribers an opportunity to expand their understanding of companies, sectors and the economy.
ICICI Direct Report
Mahindra Lifespace Developers Ltd. reported strong Q1 FY23 results. Residential sales volume, value was up by ~63%, ~84% QoQ at 0.65 million square feet and Rs 602 crore, respectively, led by strong new launches of ~1.05 million square feet during the quarter across Pune, Bengaluru and Gurugram.
Collections at Rs 308 crore was up ~33% YoY.
On financial front, Mahindra Lifespace Developers' revenues were down 36% YoY at Rs 94.6 crore. Profit after tax at Rs 75.4 crore, was aided by one-time reversal of impairment of a subsidiary of Rs 33.8 crore and higher other income.
On segment wise, industrial cluster segment (part of profit from associates/joint venture) profit was ~Rs 48 crore, while residential segment had reported adjusted loss of ~Rs 7 crore.
Click on the attachment to read the full report:
DISCLAIMER
This report is authored by an external party. BQ Prime does not vouch for the accuracy of its contents nor is responsible for them in any way. The contents of this section do not constitute investment advice. For that you must always consult an expert based on your individual needs. The views expressed in the report are that of the author entity and do not represent the views of BQ Prime.
Users have no license to copy, modify, or distribute the content without permission of the Original Owner.
Essential Business Intelligence, Continuous LIVE TV, Sharp Market Insights, Practical Personal Finance Advice and Latest Stories — On NDTV Profit.
