Mahindra Lifespace Developers has reported results for the first quarter ended June 30, 2012.
On standalone basis, the company has posted a rise of 71.50% in its net profit at Rs 29.31 crore for the quarter ended June 30, 2012 as compared to Rs 17.09 crore for the same quarter in the previous year. Total income has increased by 27.84% at Rs 104.13 crore for quarter under review as compared to Rs 81.45 crore for the quarter ended June 30, 2011.
Mahindra Lifespace Developers (MLDL) is the real estate and infrastructure development subsidiary of Mahindra & Mahindra (M&M). At present, M&M holds 51% of the equity share capital of MLDL. MLDL has two main lines of businesses - standalone real estate development and development of integrated business cities.