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Key Conference Call Highlights

Operations:

* Sustainable pre-sales significantly contributed to MAHLIFE’s pre-sales this quarter and the financial year (40% contribution)

* MAHLIFE launched Mahindra Blossom (Bengaluru) this quarter, achieving 60% sales within a week of its launch

* Mahindra Rainforest (Phase 1) has received RERA approval; the total project GDV is over INR 120 Bn

* Project Beacon Hill and Citadel Phase 3 in Pune are at the final last stage of being approved by RERA approval. MAHLIFE should be able to launch them in Q1FY27

* The company plans to launch projects worth INR 100 Bn in FY27 (including project Rainforest in Bengaluru), which is expected to support pre-sales guidance of INR 45–50 Bn

* A strategic multi-project tie-up is under way with initial capital infused, as Mitsui Fudosan acquires a 49% stake in Blossom – its first residential partnership and a key milestone for MAHLIFE

* The company successfully received 8 Occupancy Certificates (OCs) in FY26, demonstrating improved efficiency in project delivery

Product Development:

* Gross Development Value (GDV) addition for the year exceeded INR 180 Bn bringing the total portfolio GDV to more than INR 450 Bn

* Thane Project: MAHLIFE plans a mixed-use development of approximately 6.5 msf (including 4 msf of residential and 2 msf of commercial) with an estimated GDV of INR 75 Bn

* The company is expanding its presence in Mumbai, Pune and Bengaluru, with Mumbai expected to account for nearly 60% of business development

* The management confirmed continued focus on premium and mid-premium segments while exiting the affordable housing segment so as to improve overall portfolio margin

* Geographic mix targeted at ~60% Mumbai, 20% Pune and 20% Bengaluru, balancing concentration risk while capitalising on strong markets

IC&IC Business:

* Leasing Momentum: The industrial segment saw a strong performance, with INR 3,600 Mn of new lease revenue in Q4, particularly in Jaipur and Chennai

* Approvals are in place for Origins Ahmedabad and the company is looking for the first set of anchor clients, while land aggregation continues for Origins Pune

Guidance:

* Management maintained its FY27 pre-sales guidance of INR 45–50 Bn

* The company aims for INR 80–100 Bn in annual pre-sales in the next 2–3 years

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