Mahindra Lifespace Developers inches up on aiming 2.5-fold jump in sales bookings in next three years
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Mahindra Lifespace Developers is currently trading at Rs. 519.70, up by 0.15 points or 0.03% from its previous closing of Rs. 519.55 on the BSE.
The scrip opened at Rs. 527.95 and has touched a high and low of Rs. 529.20 and Rs. 518.05 respectively. So far 9002 shares were traded on the counter.
The BSE group 'A' stock of face value Rs. 10 has touched a 52 week high of Rs. 533.00 on 26-Aug-2022 and a 52 week low of Rs. 218.65 on 27-Dec-2021.
Last one week high and low of the scrip stood at Rs. 529.70 and Rs. 512.25 respectively. The current market cap of the company is Rs. 8031.74 crore.
The promoters holding in the company stood at 51.33%, while Institutions and Non-Institutions held 29.52% and 19.15% respectively.
Mahindra Lifespace Developers is aiming 2.5-fold jump in its annual sales bookings to Rs 2,500 crore in the next three years on better housing demand. The company had achieved sales bookings of Rs 1,028 crore in the last financial year. The company clocked Rs 600 crore of residential sales during the April-June quarter of the 2022-23 fiscal year against Rs 1,000 crore in the full previous year.
The collections from customers were also healthy at about Rs 270 crore, while industrial leasing was worth Rs 118 crore in the June quarter. The company achieved sales bookings of Rs 600 crore in the first quarter of this fiscal on successful launches of two housing projects, but it does not expect similar performances in every quarter.
Mahindra Lifespace Developers is the real estate and infrastructure development company and a pioneer of sustainable urbanization in India.
