Leasing in IC business to be closely watched Mahindra Lifespace Developers (MLD) reported sales volume de-growth by 24.1% YoY to 0.22 msf with sales value of | 120 crore. Standalone net sales de-grew 37.2% YoY to | 83.6 crore and was much lower than our expectation of | 133.0 crore on account of lower-than-expected revenues from projects. MLD reported negative EBITDA margins of -3.6% due to higher un-allocable expenses at | 17.4 crore. Standalone PAT de-grew 36.4% YoY to | 9.7 crore due to sharp topline de-growth sharp contraction...