Buy Mahindra Lifespace Developers, target price Rs 622: HDFC Securities

Mahindra Lifespace Developers Ltd., incorporated in the year 1999, is a Small Cap company (having a market cap of Rs 7653.74 Crore) operating in Real Estate sector.

By ETMarkets.com | Updated: Nov 01, 2023, 10.33 AM IST

Promoters held 51.19 per cent stake in the company as of 30-Sep-2023, while FIIs owned 11.87 per cent, DIIs 20.17 per cent.

HDFC Securities has buy call on Mahindra Lifespace Developers with a target price of Rs 622. The current market price of Mahindra Lifespace Developers Ltd. is Rs 488.05.
Mahindra Lifespace Developers Ltd., incorporated in the year 1999, is a Small Cap company (having a market cap of Rs 7653.74 Crore) operating in Real Estate sector.

Mahindra Lifespace Developers Ltd. key Products/Revenue Segments include Income from Project Development, Income from Sale of Commercial Flats, Shops & Plots and Project Management Fees for the year ending 31-Mar-2023.

Financials
For the quarter ended 30-09-2023, the company reported a Consolidated Total Income of Rs 25.70 Crore, down -76.65 % from last quarter Total Income of Rs 110.05 Crore and down -65.19 % from last year same quarter Total Income of Rs 73.82 Crore. Company reported net profit after tax of Rs -19.50 Crore in latest quarter.

Promoter/FII Holdings
Promoters held 51.19 per cent stake in the company as of 30-Sep-2023, while FIIs owned 11.87 per cent, DIIs 20.17 per cent.

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