Mahindra Lifespace Developers report 66% fall in Q3 net profit

21 Jan 2013

Mahindra Lifespace Developers (MLDL) has reported results for third quarter ended December 31, 2012.

The company has registered a fall of 65.68% in its net profit at Rs 13.56 crore in Q3FY13 as compared to Rs 39.51 crore in the corresponding quarter previous year. The total income from operation of the company has declined by 60.06% to Rs 61.41 crore for the quarter under review as compared to Rs 153.77 crore in the same quarter last year.

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.

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