Sharekhan's research report on Mahindra Lifespace Developers
MLDL reported strong residential pre-sales of Rs. 451 crore, aided by the back-ended launch of four new projects. IC&IC leasing and residential collections saw sequential improvement. Post Q3, it added Rs. 900 crore GDV projects, taking total of Rs. 2,600 crore GDV additions YTD. The current BD pipeline remains strong at Rs. 5,500 crore. The company continues to have a strong residential launch pipeline till early FY2025, while healthy industrial leasing is expected to sustain.
We retain Buy on stock with an unchanged PT of Rs. 600, considering favourable valuation and healthy growth outlook in both residential and industrial leasing verticals.
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