Buy Mahindra Lifespace Developers; target of Rs 600: Sharekhan

Sharekhan's research report on Mahindra Lifespace Developers

Our interaction with the management indicate adherence of timeline with respect to new project launches and new phases in existing projects in Q3FY2023. It remains on track for Q4FY2023 launches. The company remain confident of achieving its pre-sales, collections and new business development targets for H2FY2023. It executed its JV agreement with Actis for an SPV which would be developing 2msf of rental assets. The proceeds from land sales would be utilized for its equity share.

Outlook

We retain a Buy on the stock with an unchanged price target of Rs. 600, considering the strong growth potential in its residential and IC&IC business.

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Mahindra Lifespace Developers - 29 -11-2022 - khan