Mahindra Lifespace gains despite reporting 66% fall in Q3 net profit

21 Jan 2013

Mahindra Lifespace Developers is currently trading at Rs. 407.00, up by 1.95 points or 0.48% from its previous closing of Rs. 405.05 on the BSE.

The scrip opened at Rs. 400.00 and has touched a high and low of Rs. 409.95 and Rs. 390.65 respectively. So far 4207 shares were traded on the counter.

The BSE group 'B' stock of face value Rs. 10 has touched a 52 week high of Rs. 452.00 on 19-Nov-2012 and a 52 week low of Rs. 249.10 on 25-Jan-2012.

Last one week high and low of the scrip stood at Rs. 414.60 and Rs. 395.20 respectively. The current market cap of the company is Rs. 1674.04 crore.

The promoters holding in the company stood at 51.05% while Institutions and Non-Institutions held 31.42% and 17.32% respectively.

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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