Mahindra Lifespace posts Rs 109 cr profit in Q3

Realty firm Mahindra Lifespace Developers Ltd on Monday reported a consolidated net profit of Rs 108.88 crore for the December quarter on higher income and exceptional gains. The company, which is part of Mahindra Group, had posed a net loss of Rs 22.47 crore in the year-ago period. Total income rose to Rs 469.08 crore during the October-December period of this fiscal year from Rs 185.77 crore in the corresponding period of the preceding year, according to a regulatory filing. The company reported around Rs 96 crore as exceptional gains and share of profit from joint ventures and associates. During the third quarter of this fiscal, the company's sales bookings rose to Rs 572 crore as compared to Rs 334 crore in the year-ago period. Mahindra Lifespace Developers Ltd's development footprint spans 53.65 million sq ft (saleable area) of completed, ongoing and forthcoming residential projects across seven Indian cities. It has over 5,000 acres of ongoing and forthcoming projects under development/ management at its integrated developments/ industrial clusters across four locations.