Sharekhan's research report on Mahindra Lifespace Developers
MLDL reported strong performance in terms of residential sales and IC&IC lease for Q1FY2023. Residential operating loss continued as per expectation. Net earnings boosted by one-off items. The company added Rs. 1700 crore GDV project during Q1FY2023 and has a land deal pipeline of Rs. 5000 crores for balance fiscal. It expects to close Rs. 1000 crore land deals over 2-3 months. The company has strong project launch pipeline of Rs. 1250 crore to Rs. 1500 crore for balance fiscal. It expects to foray into society redevelopment in current fiscal.
We retain a Buy on stock with an unchanged price target of Rs. 485, considering its strong growth potential in both residential and industrial leasing businesses.
For all recommendations report, click here
Disclaimer: The views and investment tips expressed by investment experts/broking houses/rating agencies on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.