Mahindra Lifespace Shares Rally Nearly 8 Pc, After Earnings Announcement

Shares of Mahindra Lifespace Developers Ltd jumped nearly 8 per cent in morning trade on Thursday, after the company reported a consolidated net profit of Rs 154.5 crore for the last fiscal.

The stock gained 6.17 per cent to Rs 392.60 on the BSE. At the NSE, it rallied 7.66 per cent to Rs 398.20. It had reported a net loss of Rs 71.7 crore in FY21. Its consolidated total income stood at Rs 408.2 crore in the last fiscal, against Rs 187.8 crore FY21, according to a regulatory filing. Arvind Subramanian, Managing Director and CEO, Mahindra Lifespace Developers Ltd, said, "FY22 has been a year of strong growth. Our residential pre-sales grew by almost 50 per cent to Rs 1,028 crore, while our industrial leasing has grown by 130 per cent to Rs 298 crore".

(PTI)