Mahindra Lifespace Developers (MLIFE) clocked Q4FY23 sales bookings worth Rs3.6bn (I-sec estimate of Rs3.7bn) led by two new launches across existing/new projects. MLIFE has clocked FY23 sales bookings of Rs18.1bn (up 76% YoY) and with the company having nine planned launches in FY24 having a GDV of Rs35-40bn (including high value Kandivali, Mumbai project in H1FY24), we estimate FY24E and FY25E sales bookings of Rs23.4bn and Rs27.1bn, respectively.