Company Update - Mahindra Lifespace Developers - ICICI Direct

MLD reported decent Q4FY22 results.

- Residential sales volume, value was up ~25%, ~31% QoQ at 0.4 msf and Rs. 328 crore, respectively. Collections at Rs. 308 crore were up ~20.8% YoY. For FY22, sales volume, value was up ~20%, ~48% YoY at 1.28 msf and Rs. 1028 crore, respectively

On financial front, revenues were up by 1.9x YoY at Rs. 161.8 crore on a benign base. PAT at Rs. 137.7 crore, was aided by one-time reversal of impairment of a subsidiary of Rs. 96.8 crore. On adjusted basis, PAT at Rs. 41 crore was led by profitability in industrial cluster segment (part of profit from associates/JV) wherein profit was ~Rs. 24 crore, while residential segment had reported loss of ~Rs. 16 crore

Key triggers for future price performance

- Robust launch pipeline and unsold inventory with Rs. 3,180 crore of potential cash flow coupled with huge captive land bank and expansion plans to add land every year having potential to generate annual sales of ~Rs. 2,000 crore

- IC& IC business to benefit from PLI/manufacturing push

- Borrowing cost lowest amongst the peers - a huge competitive advantage

For details, click on the link below: Link to the report

Shares of Mahindra Lifespace Developers Limited was last trading in BSE at Rs. 378.65 as compared to the previous close of Rs. 369.80. The total number of shares traded during the day was 50124 in over 2388 trades.

The stock hit an intraday high of Rs. 389.55 and intraday low of 369.10. The net turnover during the day was Rs. 19163294.00.

Source : Equity Bulls

Keywords

MahindraLifespaceDevelopers INE813A01018 Q4FY22 ResultUpdate ICICIDirect