Mahindra Lifespaces Q3 Results Review - Key Launches To Materialize In Q4: Motilal Oswal

"NDTV Profit’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 NDTV Profit’s subscribers an opportunity to expand their understanding of companies, sectors and the economy..Motilal Oswal Report.Mahindra Lifespace Developers Ltd.'s achieved bookings of Rs 4.4 billion, flat YoY/QoQ (13% lower than our estimate). Sales volume stood at 0.5msf, down 13% YoY. Bookings for 9M FY24 stood at Rs 12 billion, down 14% YoY. During this period, the share of sustenance sales increased 3 times to Rs 9 billion versus Rs 3.3 billion in 9MFY23.Integrated cities and Industrial clusters segment – The leasing traction in the IC segment picked up sequentially as Mahindra Lifespace achieves the highest ever leasing of 77 acres across Jaipur and Chennai. Realisation was steady at Rs 29 million/acre.Cash flows – The company collected Rs 4 billion during the quarter and spent Rs 1 billion on construction. In 9M FY24, it generated surplus operating cash flows of Rs 3.8 billion. Net debt (Residential plus IC&IC) stood at Rs 3.1 billion versus Rs 2.3 billion in Q2 FY24.P&L performance – Mahindra Lifespace revenue declined 56% YoY, but was up 4 times QoQ to Rs 0.8 billion (versus our estimate of Rs 0.3 billion). It reported an Ebitda loss of Rs 0.4 billion. However, profit after tax came in at Rs 0.5 billion, aided by Rs 0.75 billion contribution from JV projects and IC business..Click on the attachment to read the full report:.Jupiter Wagons Q3 Results Review- A Perfect Train With Engine, Coaches, Guard; Maintain Buy: Systematix.DISCLAIMERThis report is authored by an external party. NDTV Profit 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 NDTV Profit..Users have no license to copy, modify, or distribute the content without permission of the Original Owner."

Mahindra Lifespaces Q3 Results Review - Key Launches To Materialize In Q4: Motilal Oswal

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