Choice's research report on Mahindra Lifespace
The Thane and Bhandup projects GDV is INR 70-80Bn and INR 120Bn respectively, accounting for 45% of its total GDV (gross development value) of INR 450 Bn. Thane and Bhandup markets are a sweet spot for MLIFE due to its mid-premium to premium preference. These projects will be a mix of Commercial and Residential projects and will be launched in multiple phases over time. Bhandup project is in the final stage of approval and is expected to be launched in Q4FY26.
Outlook
Based on the SOTP valuation approach, we arrive at a target price of INR 500, factoring in the Residential Business, Integrated Cities & Industrial Clusters & (IC&IC), Operations & Maintenance (O&M) segments, as well as the company’s historical land bank.
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