Mahindra Lifespace Developers Ltd. share price target

Mahindra Lifespace Developers (MAHLIFE) continues to see steady progress in its business development and launches.

Its IC&IC business is expected to generate revenues of 5000-6000 crore and PAT of 1500 crore (company's share) over long term. Q 1F Y2 7 performance : Mahindra Lifespace Developers reported healthy residential pre-sales of 925 crore (up 106% YoY, - 43% QoQ) and IC&IC sales of 41 crore (down 67% YoY, 89% QoQ) for Q1FY27. Resi-presales driven by launch of Rainforest, Beacon Hill in MMR and Citadel Phase 3, in Pune. Additionally, sustenance sales contributed 42% from Blossom, Vista, Marina 64 and IvyLush. Consolidated revenues stood at 962 crore for Q1FY27 as against 32 crore/ ...

In FY26, MLIFE had unveiled a strategy to reach INR 95–100bn of annual residential sales bookings by FY30, or 4x in five years (FY25–30). A key trigger to achieve this was the addition of new land parcels.

Mahindra Lifespaces (MLDL) posted record pre-sales of INR9.2b (+106% YoY) in 1QFY27, 15% ahead of our expectations.

FY27 pre-sales guidance retained on strong launch pipeline: The company retained its pre-sales guidance of 4500-5000 crore for FY27 while it upped its launch guidance for FY27 to 10,000 crore (earlier 5000-7000 crore). It plans to launch Beacon Hill, Mahalaxmi ( 1650 crore GDV) and Citadel phase 3 ( 970 crore) during Q1FY27. Additionally, it targets to launch Mahalunge, Pune ( 3500 crore), Navrat ph I&II, Bengaluru ( 2100 crore) and Saibaba ph I, Borivali (ph I out of 1800 crore GDV) during FY27. Sustenance sales from already launched projects...

Mahindra Lifespaces (MLDL) added seven projects in FY26, offering INR105b GDV as a part of the business development activity. The development plan for Thane land was approved by the authority in FY26, which added INR75b to the GDV addition.

Its IC&IC business is expected to generate revenues of 5000-6000 crore and PAT of 1500 crore (company's share) over long term. Q3FY26 Performance: Mahindra Lifespace Developers reported consolidated revenues of 459 crore (up 174% YoY, up 26x QoQ) for Q3FY26, led by revenue recognition from residential projects (Eden phase I, Nestalgia phase I and Happinest Chennai phase 2) along with strong leasing in IC&IC business at 134 crore (up 91% YoY, up 35% QoQ). Consolidated EBITDA stood at 30 crore (Vs losses of 25 crore/ 53 crore in Q3FY25/ Q2FY26) owing to recognition of margins from residential...

Mahindra Lifespaces (MLDL) achieved bookings of INR5.7b, +71% YoY / - 24% QoQ (46% below estimates due to lack of material launches). In 9MFY26, presales stood at INR17.7b, up 1% YoY.

New project additions since FY24 is 3x of FY17-FY23 period: The company has aggressively scaled up in terms of new business developments adding ~ 32000 crore since FY24 till date, which is 3x of ~ 10,200 crore added during FY17-FY23. Consequently, its cumulative Gross development value (GDV) stands robust at 46,250 crore. Including (Bhandup/Thane (Mumbai Metropolitan Region) have GDV of - 12,400 crore/ 7500 crore). The same provides it multi-year pre-sales growth visibility. The company is exiting affordable projects (a drag on...

Mahindra Lifespaces (MLDL) achieved bookings of INR7.5b, rising 89% YoY and 67% QoQ (in line with estimates). In 1HFY26, presales stood at INR12b, declining 15% YoY.

In May’23, MLIFE had unveiled a strategy of reaching INR 80–100bn of annual residential plus industrial cluster sales by CY28, or 5x in five years (CY23–28E).

In May’23, MLIFE had unveiled a strategy of reaching INR 80-100bn of annual residential plus industrial cluster sales by CY28 or 5x in 5 years (CY23-28). While it has achieved FY25 sales bookings of INR 28.0bn, with a healthy launch pipeline having GDV of over INR 390bn as of Mar’25, we estimate FY26/27E sales bookings of INR 36bn/INR 41bn, respectively.

Pre-sales: MLDL achieved bookings of INR10.5b in 4QFY25, down 3% YoY and up 3x QoQ (53% above estimates). FY25 bookings stood at INR28b, up 20% YoY (15% beat).

Mahindra Lifespaces (MLDL) clocked bookings of INR3.3b in 3QFY25 (44% miss), down 25% YoY, as volumes declined 15% YoY to 0.5msf.

We retain a Buy on Mahindra Lifespace Developers Limited (MLDL) with a revised PT of Rs. 644, removing NAV premium due to slower-than-anticipated new project additions and higher leverage.

Mahindra Lifespaces (MLDL) achieved bookings of INR10.2b, up 195% YoY (in line) in 1QFY25, driven by a strong response in the new projects in Pune and Bengaluru.

Mahindra Lifespace Developers Limited (MLDL) reported yet another strong quarter breaching Rs.
1000 crore pre-sales mark (Rs. 1019 crore, up 3x y-o-y) in Q1FY2025 led by key project launches during March 2024.