Mahindra Lifespace Developers Limited Announces Q1 FY2024 Financial Results

Mahindra Lifespace Reports Q1 FY2024 Financial Performance

Key Highlights from the Board Meeting

Financial Results Approval

On July 24, 2024, Mahindra Lifespace Developers Limited's Board of Directors approved the unaudited standalone and consolidated financial results for the first quarter ending June 30, 2024. The meeting commenced at 11:30 am and concluded at 01:55 pm.

Financial Documents Enclosed

• Unaudited standalone and consolidated Financial Results for Q1 FY2024
• Unmodified Limited Review Report on the unaudited standalone and consolidated Financial Results by M/s. Deloitte Haskins & Sells LLP

The results are available on the stock exchange websites NSE and BSE, as well as on the company's official website.

Standalone Financial Results

Revenue and Expenses

• Revenue from operations: Rs. 18,187 lakhs
• Other income: Rs. 1,966 lakhs
• Total income: Rs. 20,153 lakhs

Major Expenses

• Construction expenses incurred: Rs. 10,876 lakhs
• Employee benefits expense: Rs. 2,589 lakhs
• Finance costs: Rs. 602 lakhs
• Depreciation and amortization expenses: Rs. 429 lakhs
• Other expenses: Rs. 2,602 lakhs

Financial Performance

• Loss before tax: Rs. 3,346 lakhs
• Tax credit: Rs. 971 lakhs
• Loss after tax: Rs. 2,375 lakhs
• Total comprehensive loss: Rs. 2,375 lakhs

Consolidated Financial Results

Revenue and Expenses

• Revenue from operations: Rs. 18,814 lakhs
• Other income: Rs. 1,856 lakhs
• Total income: Rs. 20,670 lakhs

Major Expenses

• Construction expenses incurred: Rs. 11,742 lakhs
• Employee benefits expense: Rs. 2,794 lakhs
• Finance costs: Rs. 602 lakhs
• Depreciation and amortization expenses: Rs. 434 lakhs
• Other expenses: Rs. 2,843 lakhs

Financial Performance

• Profit before tax: Rs. 308 lakhs
• Tax credit: Rs. 1,025 lakhs
• Profit after tax: Rs. 1,274 lakhs
• Total comprehensive income: Rs. 1,274 lakhs

Segment Reporting

Segment Revenue

• Projects, project management, and development: Rs. 18,700 lakhs
• Operating of commercial complexes: Rs. 114 lakhs

Segment Results

• Projects, project management, and development: Rs. 4,365 lakhs
• Operating of commercial complexes: Rs. 1,020 lakhs

External Links and Resources

For more details, visit the NSE and BSE websites, or check the company's official website.