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Buy Mahindra Lifespace Developers; target of Rs 485: Sharekhan

Sharekhan is bullish on Mahindra Lifespace Developers has recommended buy rating on the stock with a target price of Rs 485 in its research report dated June 16, 2022.

June 17, 2022 / 02:54 PM IST
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Sharekhan's research report on Mahindra Lifespace Developers

MLDL launched almost a million square feet across regions with an estimated sales value of over Rs. 1100 crore during Q1FY2023 till date and is believed to have evinced strong buyers’ response. The recently launched projects at high gross margins are expected to provide a fillip to operational profitability aided by a recent correction in commodity prices and expected price rise in future phase launches. The project pipeline for the next twelve to eighteen months remains strong with launches expected in Pune, Chennai and Kandivali.


We retain a Buy on the stock with a revised price target of Rs. 485, factoring higher sales run-rate led by strong project sales bookings.

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At 14:25 hrs Mahindra Lifespace Developers was quoting at Rs 394.45, down Rs 10.30, or 2.54 percent.

It has touched an intraday high of Rs 408.45 and an intraday low of Rs 380.65.

It was trading with volumes of 17,433 shares, compared to its thirty day average of 21,994 shares, a decrease of -20.74 percent.

In the previous trading session, the share closed up 0.16 percent or Rs 0.65 at Rs 404.75.

The share touched its 52-week high Rs 435.00 and 52-week low Rs 190.02 on 13 June, 2022 and 21 June, 2021, respectively.

Currently, it is trading 9.32 percent below its 52-week high and 107.58 percent above its 52-week low.

Market capitalisation stands at Rs 6,095.58 crore.

For all recommendations report, click here

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Broker Research
first published: Jun 17, 2022 02:54 pm
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