New Delhi:Realty firm Mahindra Lifespace Developers has reported a fourfold jump in net profit to Rs 51.26 crore for the first quarter of this fiscal year on exceptional gains.Its net profit stood at Rs 12.74 crore in the year-ago period.
Total income plunged to Rs 40.61 crore in April-June 2025-26 from Rs 206.70 crore in the corresponding period of the preceding year.In its notes of accounts to the financial statement, the company said in June quarter, Mahindra Industrial Park Pvt Ltd (MIPPL) modified the terms of non-convertible debentures (NCDs) resulting in an exceptional gain of Rs 24.52 crore (net of tax).
Similarly, Mahindra World City Jaipur Ltd (MWCJL) redeemed its non-convertible debentures (NCDs) at a mutually agreed price. This resulted in an exceptional gain of Rs 18.66 crore (net of tax).Mahindra Lifespace development footprint spans 49.26 million square feet (saleable area) of completed, ongoing and forthcoming residential projects across seven cities.
The company also has over 5,000 acres of ongoing and forthcoming projects under development / management at its integrated developments / industrial clusters across four locations.
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