Mahindra Lifespace buys land in Maharashtra to develop housing project

NEW DELHI: Realty firm Mahindra Lifespace Developers Ltd today said it has bought a land parcel in Maharashtra to develop a housing project.

In a filing to the BSE, the company informed that it has "acquired a land parcel in district Palghar, Maharashtra, admeasuring 85,000 square meters for Residential Development".

The company recently reported 36 per cent decline in consolidated net profit at Rs 15.11 crore for the quarter ended September.

Its net profit stood at Rs 23.47 crore in the year-ago period.

Income from operations also fell by 9 per cent to Rs 164.55 crore during the second quarter of this fiscal from Rs 181.61 crore in the corresponding period of the previous year.