Mahindra Lifespace Developers Ltd.

BSE: MAHLIFE532313ISIN INE813A01018

Consumer Discretionary
Residential, Commercial Projects
BSE 1000

Share price

₹315.00+7.60 (+2.47%)

as of 4 Nov 2026

Prices adjusted for splits and bonuses; cash dividends excluded. Volume shows actual shares traded. Earlier history is omitted pending corporate-action verification.

52W high: ₹428.35
52W low: ₹288.00
Off 52W high: -26.46%
1M return: -10.36%
3M return: -17.36%
6M return: -6.35%
1Y return: -22.90%
20D avg volume: 17,640
50 DMA: ₹349.82
200 DMA: ₹353.27

Key ratios Consolidated

Market cap: ₹6,723 Cr
Current price: ₹315.00
52W high / low: ₹428.35 / ₹288.00
Face value: ₹10.00
P/E: 22.34
P/B: 1.84
EPS (TTM): ₹14.10
Book value / share: ₹171.51
ROE: —
ROCE: -0.90%
Operating margin: —
Net margin: —
Debt / equity: 0.18
Net debt: ₹565.91 Cr
Interest cover: -2.93
Dividend yield: 1.11%
Dividend / share (TTM): ₹3.50
Payout: 24.82%
Cash conversion cycle: 1,523.9 days

Financials

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	32.42	962.13	669.62	459.16	17.56	31.97	9.24	167.28	7.61	188.14	14.29	81.99
	71.60	15.41	53.59	9.92	15.50	8.64	46.20	18.49	8.35	18.56	40.31	6.78
	104.02	977.54	723.21	469.08	33.06	40.61	55.44	185.77	15.96	206.70	54.60	88.77
	97.41	875.09	722.45	436.81	78.39	97.03	72.04	200.88	66.33	240.08	74.82	125.12
	826.22	897.27	672.76	840.89	275.34	405.83	593.92	404.20	249.50	117.42	827.52	348.10
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	33.93	33.57	36.97	32.00	30.27	28.02	26.24	28.01	29.44	27.94	18.17	23.69
	5.43	2.40	3.34	1.77	1.85	3.95	2.12	4.23	7.01	6.02	2.61	0.33
	4.54	5.04	5.60	5.67	6.51	6.09	5.50	3.97	4.00	4.34	3.82	3.82
	39.50	69.18	70.81	38.84	24.91	31.18	39.53	22.80	23.37	28.43	37.26	24.88
	6.61	102.45	0.76	32.27	-45.33	-56.42	-16.60	-15.11	-50.37	-33.38	-20.22	-36.35
	0.00	0.00	0.00	25.83	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	6.61	102.45	0.76	58.10	-45.33	-56.42	-16.60	-15.11	-50.37	-33.38	-20.22	-36.35
	33.16	25.45	5.88	20.56	2.83	-9.66	1.47	17.32	0.02	9.66	12.90	10.93
	16.34	85.55	90.12	108.88	47.91	51.26	85.09	-22.47	-14.01	12.74	71.48	50.02
	0.77	4.01	4.42	5.43	2.47	2.93	5.49	-1.45	-0.90	0.82	4.62	3.23
Key metrics
	16.58	109.89	9.70	65.54	-36.97	-46.38	-8.98	-6.91	-39.36	-23.02	-13.79	-32.20
	51.10%	11.40%	1.40%	14.30%	-210.50%	-145.10%	-97.20%	-4.10%	-517.20%	-12.20%	-96.50%	-39.30%
	50.40%	8.90%	13.50%	23.70%	272.80%	160.30%	920.90%	-13.40%	-184.10%	6.80%	500.20%	61.00%
	0.30%	—	0.10%	—	-1.30%	—	-0.50%	—	—	—	—	—
	84.60%	2,909.50%	7,147.00%	174.50%	130.70%	-83.00%	-35.30%	104.00%	—	—	—	—
	-65.90%	66.90%	5.90%	584.60%	442.00%	302.40%	19.00%	-144.90%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	2,123	1,178	372.27	212.09	606.61	393.55	166.25	610.94	592.83	566.19	762.15
	150.52	87.65	91.60	67.03	52.95	14.69	21.57	34.98	61.04	77.94	68.87
	2,274	1,266	463.87	279.12	659.56	408.24	187.82	645.92	653.87	644.13	831.02
	2,132	1,335	579.33	404.31	739.83	496.06	277.71	683.09	583.25	554.31	736.65
	3,237	2,195	1,365	1,464	513.78	—	—	—	—	—	—
	0.00	0.00	0.00	—	—	—	—	—	—	—	—
	136.47	127.26	111.63	84.07	79.17	83.60	75.71	82.17	73.98	66.03	—
	12.94	10.91	19.38	7.39	10.91	6.51	10.97	7.63	12.49	41.29	20.21
	20.85	23.87	17.81	13.73	12.20	6.51	6.99	7.71	3.77	—	4.62
	218.33	165.74	130.90	107.59	123.77	96.30	66.75	102.53	65.32	49.12	—
	142.09	-68.72	-115.46	-125.19	-80.27	-87.82	-89.89	-37.17	70.62	89.82	94.37
	25.83	25.83	0.00	0.00	67.80	96.84	0.00	-134.59	0.00	0.00	0.00
	167.92	-42.89	-115.46	-125.19	-12.47	9.02	-89.89	-171.76	70.62	89.82	94.37
	85.05	7.85	9.15	44.01	2.83	62.43	6.33	1.69	24.59	31.18	33.01
	300.89	298.17	61.35	98.30	102.83	161.71	-71.45	-194.55	118.67	103.36	105.89
	14.63	14.64	3.95	6.34	6.56	10.48	-13.96	-37.66	23.32	—	0.00
Key metrics
	201.71	-8.11	-78.27	-104.07	10.64	22.04	-71.93	-156.42	86.88	131.11	119.20
	9.50%	-0.70%	-21.00%	-49.10%	1.80%	5.60%	-43.30%	-25.60%	14.70%	23.20%	15.60%
	14.17%	25.30%	16.50%	46.30%	17.00%	41.10%	-43.00%	-31.80%	20.00%	18.30%	13.90%
	—	-0.90%	-3.40%	—	—	—	—	—	—	—	—
	839.32%	216.50%	75.50%	-65.00%	54.10%	136.70%	-72.80%	3.10%	4.70%	-25.70%	—
	85.98%	386.00%	-37.60%	-4.40%	-36.40%	326.30%	63.30%	-263.90%	14.80%	-2.40%	—
	—	-563.07	-556.63	—	—	—	—	—	—	—	—
	—	-1.83	-8.84	—	—	—	—	—	—	—	—
	—	0.18	0.76	—	—	—	—	—	—	—	—
	—	565.91	1,194	—	—	—	—	—	—	—	—
	—	1,523.9	4,282.4	—	—	—	—	—	—	—	—
Balance sheet
	—	8,295	6,421	—	—	—	—	—	—	—	—
	—	6,623	5,168	—	—	—	—	—	—	—	—
	—	79.34	237.85	—	—	—	—	—	—	—	—
	—	228.11	138.74	—	—	—	—	—	—	—	—
	—	5,175	4,462	—	—	—	—	—	—	—	—
	—	566.16	234.09	—	—	—	—	—	—	—	—
	—	26.48	25.22	—	—	—	—	—	—	—	—
	—	483.96	233.19	—	—	—	—	—	—	—	—
	—	4,644	3,591	—	—	—	—	—	—	—	—
	—	645.25	1,432	—	—	—	—	—	—	—	—
	—	645.25	514.08	—	—	—	—	—	—	—	—
	—	0.00	917.66	—	—	—	—	—	—	—	—
	—	3,627	1,896	—	—	—	—	—	—	—	—
Cash flow
	—	-544.93	-542.09	—	—	—	—	—	—	—	—
	—	-144.88	272.70	—	—	—	—	—	—	—	—
	—	531.30	416.18	—	—	—	—	—	—	—	—
	—	18.14	14.54	—	—	—	—	—	—	—	—

Metric	Q2 FY27	Q1 FY27	Q4 FY26	Q3 FY26	Q2 FY26	Q1 FY26	Q4 FY25	Q3 FY25	Q2 FY25	Q1 FY25	Q4 FY24	Q3 FY24
Income statement
	15.73	331.24	550.36	272.46	11.97	25.53	3.69	161.70	2.06	181.87	2.55	2.06
	231.40	65.72	110.78	128.47	45.10	32.99	100.62	101.58	61.41	19.66	41.50	8.09
	247.13	396.96	661.14	400.93	57.07	58.52	104.31	263.28	63.47	201.53	44.05	10.15
	82.36	284.00	629.19	279.38	76.04	101.44	74.89	197.06	64.18	234.99	62.62	48.68
	797.15	257.64	322.70	252.93	212.03	169.34	269.44	305.83	210.40	108.76	803.66	324.22
	0.00	0.00	0.00	0.00	0.00	0.00	0.00	—	—	—	—	—
	29.78	31.04	34.73	29.85	28.18	25.94	24.24	25.96	27.41	25.89	15.96	21.67
	5.05	1.87	2.72	1.50	3.84	12.92	10.58	4.23	7.01	6.02	2.62	0.31
	3.81	4.68	5.53	5.61	6.46	6.04	5.45	3.91	3.94	4.29	3.77	3.75
	32.59	32.48	65.06	31.27	22.71	29.22	35.96	21.08	23.33	26.02	34.19	22.48
	164.77	112.96	31.95	121.55	-18.97	-42.92	29.42	66.22	-0.71	-33.46	-18.57	-38.53
	0.00	0.00	0.00	-3.60	0.00	0.00	0.00	—	—	—	—	—
	164.77	112.96	31.95	117.95	-18.97	-42.92	29.42	66.22	-0.71	-33.46	-18.57	-38.53
	37.34	22.83	2.39	17.08	5.54	9.10	1.46	18.49	0.12	9.71	12.55	9.70
	127.43	90.13	29.56	100.87	-24.51	-33.82	27.96	47.73	-0.59	-23.75	-6.02	-28.83
	5.97	4.22	1.45	5.03	-1.26	-1.94	1.80	3.08	-0.04	-1.53	-0.39	-1.86
Key metrics
	173.63	119.51	40.20	125.06	-8.67	-23.96	45.45	74.36	10.24	-23.15	-12.18	-34.47
	1,103.80%	36.10%	7.30%	45.90%	-72.40%	-93.90%	1,231.70%	46.00%	497.10%	-12.70%	-477.60%	-1,673.30%
	810.10%	27.20%	5.40%	37.00%	-204.80%	-132.50%	757.70%	29.50%	-28.60%	-13.10%	-236.10%	-1,399.50%
	5.30%	—	1.10%	—	-0.50%	—	1.60%	—	—	—	—	—
	31.40%	1,197.50%	14,814.90%	68.50%	481.10%	-86.00%	44.70%	7,749.50%	—	—	—	—
	619.90%	366.50%	5.70%	111.30%	-4,054.20%	-42.40%	564.50%	265.60%	—	—	—	—

Metric	TTM	FY26	FY25	FY24	FY23	FY22	FY21	FY20	FY19	FY18	FY17
Income statement
	1,170	860.32	349.32	18.69	471.91	252.81	89.64	439.88	486.03	475.00	680.55
	536.37	317.34	283.27	104.74	156.21	53.69	46.75	80.81	68.81	82.22	72.65
	1,706	1,178	632.59	123.43	628.12	306.50	136.39	520.69	554.84	557.22	753.20
	1,275	1,086	571.12	216.45	601.93	388.12	206.06	513.21	470.26	478.29	682.65
	1,630	957.00	894.43	1,386	415.24	—	—	—	—	—	—
	0.00	0.00	0.00	—	—	—	—	—	—	—	—
	125.40	118.70	103.50	75.92	69.22	72.55	65.31	71.62	66.34	59.58	—
	11.14	20.98	27.84	7.02	8.51	4.74	3.67	1.84	5.48	35.41	31.97
	19.63	23.64	17.59	12.54	9.66	6.18	6.65	7.26	3.06	3.96	—
	161.40	148.26	123.16	95.77	99.30	75.44	49.11	76.21	39.12	34.66	—
	431.23	91.61	61.47	-93.02	26.19	-81.62	-69.67	7.48	84.58	78.93	70.55
	-3.60	-3.60	0.00	22.91	124.37	104.12	—	-237.31	—	—	—
	427.63	88.01	61.47	-70.11	150.56	22.50	-69.67	-229.83	84.58	78.93	70.55
	79.64	15.91	10.12	31.29	0.69	20.39	17.42	3.82	25.99	25.81	21.61
	347.99	72.10	51.35	-38.82	151.25	42.89	-52.25	-226.01	58.59	53.12	48.94
	16.67	3.54	3.31	-2.51	9.78	2.78	-10.17	-44.01	11.41	—	11.92
Key metrics
	458.40	132.63	106.90	-50.55	168.73	33.42	-59.35	-220.73	93.12	118.30	102.52
	39.19%	15.40%	30.60%	-270.50%	35.80%	13.20%	-66.20%	-50.20%	19.20%	24.90%	15.10%
	29.75%	8.40%	14.70%	-207.70%	32.10%	17.00%	-58.30%	-51.40%	12.10%	11.20%	7.20%
	—	3.50%	3.60%	—	—	—	—	—	—	—	—
	476.56%	146.30%	1,769.00%	-96.00%	86.70%	182.00%	-79.60%	-9.50%	2.30%	-30.20%	—
	1,904.55%	40.40%	232.30%	-125.70%	252.60%	182.10%	76.90%	-485.70%	10.30%	8.50%	—
	—	-267.73	-111.39	—	—	—	—	—	—	—	—
	—	-3.57	-1.89	—	—	—	—	—	—	—	—
	—	0.20	0.92	—	—	—	—	—	—	—	—
	—	588.45	1,198	—	—	—	—	—	—	—	—
	—	1,402.5	3,881.5	—	—	—	—	—	—	—	—
Balance sheet
	—	6,921	5,827	—	—	—	—	—	—	—	—
	—	4,609	4,451	—	—	—	—	—	—	—	—
	—	36.55	233.72	—	—	—	—	—	—	—	—
	—	184.30	126.26	—	—	—	—	—	—	—	—
	—	3,500	3,795	—	—	—	—	—	—	—	—
	—	—	204.73	—	—	—	—	—	—	—	—
	—	25.66	24.72	—	—	—	—	—	—	—	—
	—	378.60	206.46	—	—	—	—	—	—	—	—
	—	3,839	3,339	—	—	—	—	—	—	—	—
	—	625.00	1,431	—	—	—	—	—	—	—	—
	—	625.00	513.83	—	—	—	—	—	—	—	—
	—	0.00	917.66	—	—	—	—	—	—	—	—
	—	3,061	1,556	—	—	—	—	—	—	—	—
Cash flow
	—	-257.21	-96.88	—	—	—	—	—	—	—	—
	—	-482.39	-175.44	—	—	—	—	—	—	—	—
	—	542.43	421.18	—	—	—	—	—	—	—	—
	—	10.52	14.51	—	—	—	—	—	—	—	—

Compounded growth

Standalone

Sales CAGR 3Y: +22.16%
Sales CAGR 5Y: +57.19%
Profit CAGR 3Y: -21.88%
Profit CAGR 5Y: —
Sales YoY (TTM): +476.56%
Profit YoY (TTM): +1,904.55%

Consolidated

Sales CAGR 3Y: +24.77%
Sales CAGR 5Y: +47.94%
Profit CAGR 3Y: +42.60%
Profit CAGR 5Y: —
Sales YoY (TTM): +839.32%
Profit YoY (TTM): +85.98%

Compounded from reported annual figures. We publish no share-price CAGR: our prices are as-traded, so one would be wrong across every split and bonus issue.

Coverage

INFORMED coverage

Mahindra Lifespace Q1 FY27 Revenue Surges 30x to Rs 962 Crore

Shareholding as of 30 Sep 2026

Promoter holding: 52.40%

Quarter	30 Sep 2026	September 2026	June 2026	December 2025
Promoter %	52.40%	52.40%	52.41%	52.41%

Holder	Type	Holding	Previous	Change
MAHINDRA AND MAHINDRA LIMITED	Promoter	52.40%	52.40%	0.00%
SBI ELSS TAX SAVER FUND AND ITS SUB ACCOUNTS	Public	6.54%	6.54%	0.00%
KOTAK LARGE CAP FUND AND ITS SUB ACCOUNTS	Public	4.92%	4.92%	0.00%
ICICI PRUDENTIAL ELSS - TAX SAVER FUND A/C AND ITS SUB ACCOUNTS	Public	3.53%	3.53%	0.00%
BANDHAN MULTI CAP FUND AND ITS SUB ACCOUNTS	Public	2.92%	2.92%	0.00%
AXIS MUTUAL FUND TRUSTEE LIMITED A/C AXIS MUTUAL FUND A/C AXIS SMALL CAP FUND	Public	2.01%	2.01%	0.00%
KOTAK FUNDS - INDIA MIDCAP FUND	Public	1.57%	1.57%	0.00%
HDFC LIFE INSURANCE COMPANY LIMITED AND ITS SHAREHOLDERS’ SOLVENCY MARGIN ACCOUNT	Public	1.33%	1.33%	0.00%
Mahindra Investment Company Mauritius Ltd (Formerly known as Mahindra-BT Investment Company (Mauritius) Limited)	Promoter Group	0.00%	0.00%	0.00%
BANKS	Public	0.00%	0.00%	0.00%
Mahindra Manulife Investment Management Private Limited (formerly known as Mahindra Asset Management Company Private Limited)	Promoter Group	0.00%	0.00%	0.00%
Mahindra Agri Solutions Limited (Formerly known as Mahindra Shubhlabh Services Limited)	Promoter Group	0.00%	0.00%	0.00%
Martial Solren Private Limited	Promoter Group	0.00%	0.00%	0.00%
Mahindra Accelo Limited (Formerly known as Mahindra Intertrade Limited)	Promoter Group	0.00%	0.00%	0.00%
Holiday Club Resorts Oy	Promoter Group	0.00%	0.00%	0.00%

Public shareholders are disclosed individually only above 1%.

Peer comparison

Company	Mkt cap (₹ Cr)	Price (₹)	P/E	ROCE	Sales YoY	Profit YoY	1Y return
DLF LIMITED	1,78,037	719.25	38.98	6.40%	-29.29% TTM	+6.62% TTM	-7.08%
Lodha Developers Limited	1,11,937	1,120.00	25.72	18.00%	+20.85% TTM	+30.60% TTM	-8.38%
The Phoenix Mills Ltd.	74,091	2,071.45	44.28	11.80%	+12.86% TTM	+19.04% TTM	+17.13%
Prestige Estates Projects Limited	67,971	1,578.05	53.72	13.00%	+67.46% TTM	+103.62% TTM	-9.58%
OBEROI REALTY LIMITED	61,938	1,703.45	23.54	16.70%	+16.64% TTM	+17.82% TTM	-4.40%
Godrej Properties Limited	52,394	1,739.35	39.27	12.00%	+49.99% TTM	-13.26% TTM	-24.13%
Brigade Enterprises Limited	17,657	541.20	21.22	9.90%	-4.37% TTM	+2.36% TTM	-29.23%
Anant Raj Limited	16,572	460.50	27.68	10.40%	+12.31% TTM	+21.36% TTM	-28.62%
Horizon Industrial Parks Limited	12,843	44.55	—	—	—	—	—
Sobha Limited	12,687	1,186.45	66.41	7.60%	+9.57% TTM	+28.50% TTM	-26.67%
ADITYA BIRLA REAL ESTATE LIMITED	11,861	1,061.90	16.98	-4.80%	-26.16% TTM	+413.97% TTM	-42.89%
Sri Lotus Developers and Realty Limited	11,331	231.85	37.10	16.70%	—	—	+30.55%
SIGNATUREGLOBAL (INDIA) LIMITED	9,954	707.50	9.54	36.30%	-22.98% TTM	+709.93% TTM	-34.25%
Max Estates Limited	8,424	515.00	695.54	1.20%	+16.57% TTM	-69.99% TTM	+7.89%
EMBASSY DEVELOPMENTS LIMITED	7,222	51.93	-6.80	-2.20%	-54.57% TTM	-514.70% TTM	-43.97%
Mahindra Lifespace Developers Ltd.	6,723	315.00	22.34	-0.90%	+839.32% TTM	+85.98% TTM	-22.90%
GANESH HOUSING LIMITED	5,278	632.95	23.57	17.80%	-29.50% TTM	-57.50% TTM	-24.55%
Kalpataru Limited	4,947	240.25	182.43	2.40%	—	—	-36.32%
Puravankara Limited	4,775	201.35	17.22	35.70%	+119.51% TTM	+194.89% TTM	-24.56%
VALOR ESTATE LIMITED	4,664	85.98	389.58	4.40%	-54.40% TTM	+113.15% TTM	-41.85%
Keystone Realtors Limited	4,546	359.90	34.71	5.30%	—	—	-35.90%
MAN INFRACONSTRUCTION LIMITED	4,331	107.30	19.63	11.80%	-9.75% TTM	-26.33% TTM	-25.90%
Sunteck Realty Ltd	4,306	293.25	19.69	6.70%	+47.87% TTM	+24.77% TTM	-36.07%
Kolte-Patil Developers Ltd	4,167	469.90	29.28	-0.80%	+37.11% TTM	+120.28% TTM	+8.63%
KESAR INDIA LIMITED	3,920	1,205.00	—	16.60%	—	—	+41.76%

Some figures use IPO-document inputs. Growth periods are shown per value; FY means annual.

Filings & corporate actions

Recent announcements

Detailed Disclosure Attached4 Nov 2026 · Company Update / Newspaper Publication
Transcript of Earnings Conference Call28 Oct 2026 · Company Update / Earnings Call Transcript
Detailed Disclosure Attached27 Oct 2026 · Company Update / Press Release / Media Release
Detailed Disclosure Attached26 Oct 2026 · Company Update / General
Detailed Disclosure Attached23 Oct 2026 · Company Update / Newspaper Publication
Detailed disclosure attached22 Oct 2026 · Company Update / Analyst / Investor Meet
Detailed Disclosure Attached22 Oct 2026 · Company Update / Investor Presentation
Detailed Disclosure Attached22 Oct 2026 · Company Update / Change in Management
Detailed Disclosure Attached22 Oct 2026 · Company Update / Allotment of ESOP / ESPS
Detailed Disclosure Attached22 Oct 2026 · Company Update / Press Release / Media Release
Outcome of Board Meeting22 Oct 2026 · Board Meeting / Outcome of Board Meeting
Detailed Disclosure Attached22 Oct 2026 · Result / Financial Results
Detailed Disclosure Attached.15 Oct 2026 · Company Update / Analyst / Investor Meet
Detailed Disclosure Attached9 Oct 2026 · Company Update / Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018
Mahindra Lifespaces launches Mahindra Rivenza in Baner Annex Pune6 Oct 2026 · Company Update / Press Release / Media Release
Intimation of Product Launch1 Oct 2026 · Company Update / General
Intimation of Allotment of ESOPs.1 Oct 2026 · Company Update / Allotment of ESOP / ESPS
Detailed Press Release Attached30 Sep 2026 · Company Update / Press Release / Media Release
Intimation of Closure of Trading Window29 Sep 2026 · Insider Trading / SAST / Closure of Trading Window
Mahindra Lifespace Developers Ltdhas informed BSE that the meeting of the Board of Directors of the Company is scheduled on 22/10/2026 ,inter alia, to consider and approve The Unaudited ....29 Sep 2026 · Board Meeting / Board Meeting
Please refer attached file15 Sep 2026 · Company Update / General
Detailed Disclosure Attached8 Sep 2026 · Company Update / General
Detailed Disclosure Attached.7 Sep 2026 · Company Update / Newspaper Publication
Detailed Disclosure Attached27 Aug 2026 · Company Update / Diversification / Disinvestment
Detailed Disclosure Attached21 Aug 2026 · Company Update / General
Detailed Press Release Attached10 Aug 2026 · Company Update / Press Release / Media Release
ESG Ratings Received from CRISIL ESG Ratings & Analytics Limited5 Aug 2026 · Company Update / Credit Rating
Transcript of Earnings Conference Call30 Jul 2026 · Company Update / Analyst / Investor Meet
Intimation of Credit Rating25 Jul 2026 · Company Update / Credit Rating
Detailed Disclosure Attached24 Jul 2026 · Company Update / Analyst / Investor Meet
Detailed Disclosure Attached24 Jul 2026 · Company Update / Newspaper Publication
Disclosure of Voting Results at the 27th Annual General Meeting of the Company and Scrutinizers Report23 Jul 2026 · AGM/EGM / AGM
Outcome and Proceedings of 27th Annual General Meeting held through video conferencing.23 Jul 2026 · AGM/EGM / AGM
Earnings Presentation for the First Quarter Ended 30 June 202623 Jul 2026 · Company Update / Investor Presentation
Detailed Disclosure attached herewith23 Jul 2026 · Company Update / General
Detailed Disclosure attached herewith23 Jul 2026 · Company Update / General
Detailed Disclosure attached herewith23 Jul 2026 · Company Update / General
Detailed Disclosure attached herewith23 Jul 2026 · Company Update / Allotment of ESOP / ESPS
Detailed disclosure attached herewith23 Jul 2026 · Company Update / Press Release / Media Release
Detailed disclosure attached herewith23 Jul 2026 · Board Meeting / Outcome of Board Meeting

Corporate actions

Purpose	Ex date	Record date	Payment date
Final Dividend - Rs. - 3.5000	3 Jul 2026	3 Jul 2026	—
Final Dividend - Rs. - 2.8000	18 Jul 2025	18 Jul 2025	—
Right Issue of Equity Shares	23 May 2025	23 May 2025	—
Final Dividend - Rs. - 2.6500	12 Jul 2024	—	—

Board meetings

22 Oct 2026 Board Meeting - Financial Results
23 Jul 2026 Board Meeting - Financial Results

Mahindra Lifespace Q1 FY27 Revenue Surges 30x to Rs 962 Crore

INFORMED Newsroom · 2026-07-23

Mahindra Lifespace Developers, the real estate arm of the Mahindra Group that builds homes and industrial towns across India’s top cities, reported its unaudited consolidated results for the first quarter of FY27 (April–June 2026). Revenue from operations leapt to Rs 962.13 crore — a 30-fold jump from the Rs 31.97 crore recorded in the same quarter a year ago . The quarter delivered a consolidated profit after tax of Rs 85.55 crore, recovering from a pre-tax loss in the comparable period .

The Revenue Spike: Two Occupancy Certificates Arrived Right After March 31

The dramatic top-line recovery is not a surprise; it was flagged by management on the Q4 FY26 earnings call in April 2026. Mahindra Lifespace follows the Completed Contracts Method under Ind AS 115, which means revenue — and profit — from a residential project is recognised only when the builder receives the Occupation Certificate (OC) and hands over possession, not as construction progresses .

CFO Sriram Kumar had told analysts that two OCs that arrived just after the March 31 year-end cut-off would be booked in Q1 FY27. “Eden Phase 2, we received the OC on 1st of April. So, we couldn't recognise obviously the revenues by 31st March, so that is already in the bag. Similarly, Luminare in NCR — that OC we actually received on 31st of March but we couldn't send the demand letters on time. So, again, that will come to be recognised in Q1 of FY27,” he had said . The Q1 revenue figure — Rs 962.13 crore — reflects these catch-up completions, making Q1 FY26’s Rs 31.97 crore an unusually low base for comparison .

Quarter	Consolidated Revenue from Operations (Rs crore)
Q1 FY25	188.14
Q2 FY25	7.61
Q3 FY25	167.28
Q4 FY25	9.24
Q1 FY26	31.97
Q2 FY26	17.56
Q3 FY26	459.16
Q4 FY26	669.62
Q1 FY27	962.13

The table underscores the lumpiness inherent in the Completed Contracts Model. A quarter can swing from Rs 7.6 crore to Rs 962 crore based purely on the timing of OC receipts, not on underlying sales momentum .

Joint Venture Income Dries Up: The One-Off Gains Are Behind

While the top line and own-project profitability surged, the line that had propped up the bottom line in earlier quarters — “Share of profit of joint ventures and associates” — fell off a cliff. The company booked only Rs 8.55 crore from JVs and associates in Q1 FY27, a 91% drop from Rs 98.02 crore in Q1 FY26 .

This normalisation was expected. In the previous financial year (FY26), the JV/associate income line contained material one-off gains that inflated the figure. Notes to the FY26 annual accounts disclose that Mahindra Industrial Park Private Limited (MIPPL) modified the terms of its non-convertible debentures, resulting in an exceptional gain of Rs 24.52 crore (net of tax) . Separately, Mahindra World City Jaipur Limited redeemed its NCDs at a mutually agreed price, yielding a one-time gain of Rs 18.66 crore (net of tax) . Both were routed through the JV/associate profit share line.

Where the Profit Is Coming From Now: Own Projects Start Delivering

The Q1 FY27 P&L shows a structural shift. The company’s own operations — that is, profit before share of JVs and associates — swung from a loss of Rs 56.42 crore in Q1 FY26 to a profit of Rs 102.45 crore in Q1 FY27 . This was driven by the completion of Eden Phase 2 and Luminare, both of which had material unsold inventory in earlier quarters .

Component (Rs crore)	Q1 FY26	Q1 FY27
Profit/(loss) before JV share & tax	-56.42	102.45
Share of JV & associate profit	98.02	8.55
Profit before tax	41.6	111.00
Profit after tax	51.26	85.55

The table makes the pivot clear: in Q1 FY26, JV income bailed out an operating loss; in Q1 FY27, the company’s own projects generated all the profit and then some, with JV contributions becoming a minor top-up .

The Delivery Pipeline For FY27: Eight OCs Planned

Management has guided for eight occupancy certificates in FY27. Two — Eden Phase 2 and Luminare — were already in hand and recognised in this Q1. That leaves six more completions planned through the rest of the year: four in the premium segment and two in the affordable segment .

MD & CEO Amit Sinha had said on the Q4 FY26 call: “We have 8 OCs planned for this year. 2 of them have already happened… and the 6 remaining will happen. Of the 6, 2 are on the affordable, 4 are — including the 2 that we have got in — in the premium segment. So, 4 premium, 2 affordable and 2 already premium received. It should give a healthy growth over the current year portfolio” .

The Q1 result bears the mark of that plan beginning to unfold. But with JV income normalising, the sustainability of quarterly profits now depends squarely on whether the remaining six OCs — and the fresh pre-sales and launches behind them — arrive on schedule.

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