Buy Mahindra Lifespace Developers; target of Rs 600: Sharekhan

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.

Outlook

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.

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.

Mahindra Lifespace Developers - 06 -02 - 2023 - khan