Mahindra Lifespace Q3 PAT up 20% at Rs 33.4 cr

Mahindra Lifespace has reported profit after tax of Rs 33.4 crore for the quarter ended December 2010, up 20% as compared to Rs 27.9 crore in same quarter the previous year.

Revenues went up by 43% at Rs 155.8 crore from Rs 108.9 crore (YoY). Numbers were better-than-expectations. CNBC-TV18 expected PAT at Rs 25.4 crore and revenues at Rs 126.2 crore. However, EBITDA margin declined at 27.5% versus 28%. Tax provision was up by 65.2% at Rs 15.2 crore versus Rs 9.2 crore on year-on-year basis. Total expenditure went up by 44% at Rs 113.6 crore from Rs 78.9 crore. Highlights * Revenues growth on account of Aura, Gurgaon project reaching revenue completion threshold * Expect MLL to recognize incremental revenue from its residential projects Mahindra Splendor(Bhandup), Eminente phase-2 and 3 (Goregaon), Rayale (Pune) and Chloris and Aura (NCR)