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Buy Mahindra Lifespace Developers; target of Rs 430: ICICI Direct

ICICI Direct is bullish on Mahindra Lifespace Developers has recommended buy rating on the stock with a target price of Rs 430 in its research report dated April 29, 2022.

April 30, 2022 / 12:24 PM IST
 
 
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ICICI Direct's research report on Mahindra Lifespace Developers


Mahindra Lifespace Developers (MLD) is the real estate and infrastructure development business of the Mahindra Group. It has 30 msf of completed, ongoing and forthcoming residential projects across seven cities and over 5,000 acres of ongoing and forthcoming projects under development at its integrated developments / industrial clusters across four locations. The company has outlined medium term guidance to achieve sales value of Rs 2500 crore by FY25. For the same, it is targeting four land transactions every year totalling ~Rs 2,000 crores worth of sales potential.



Outlook


We maintain our BUY rating on the company. We value MLD at Rs 430/share.

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first published: Apr 30, 2022 12:24 pm
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