Mahindra Lifespace Developers Ltd (BOM:532313)

Q4 2025 Mahindra Lifespace Developers Ltd Earnings Call Transcript

Apr 28, 2025 / 12:00PM GMT

Release Date Price: ₹307.1 (-0.98%)

Transcript

Key Points

Positve

Mahindra Lifespace Developers Ltd (BOM:532313) has set a bold mission to achieve INR8,000 crore to INR10,000 crore in pre-sales, requiring the development of INR45,000 crores of GDV.
The company has significantly scaled its GDV, adding INR39,000 crore in the last two years, including a major INR18,000 crore addition this year.
Mahindra Lifespace Developers Ltd (BOM:532313) has maintained a healthy debt-to-equity ratio of 0.39, showcasing fiscal prudence.
The company has a strong focus on premium projects, exiting the affordable segment due to lower returns.
The IC business remains a significant contributor to profitability, with potential to generate INR1,500 crores worth of PAT over the next 8 to 10 years.

Negative

The company faces challenges in project execution timelines due to regulatory approval delays, impacting sales and revenue recognition.
Mahindra Lifespace Developers Ltd (BOM:532313) has experienced IRR dilution in past projects, with some projects initially projected at 18% IRR dropping to as low as 3%.
The transition from affordable to premium segments requires significant brand repositioning and customer experience enhancements.
The competitive landscape in key markets like Mumbai and Pune poses challenges in maintaining pricing power and achieving desired IRRs.
The company has not yet transitioned to POCM accounting, which could provide a more accurate reflection of profitability compared to the current completed contract method.

Sriram Kumar

Mahindra Lifespace Developers Ltd - Vice President- FP&A Costing and Investor Relations

Hi. Are you able to hear me? Yes, great. Thanks, everyone. Thanks for coming.

I officially welcome everyone to our Q4 and FY25 earnings update meet. This is the first time actually we are meeting in person post-COVID. So it's good to see everyone live and have a face to face meeting. And at the outset I would like to thank for everyone -- thank everyone for participating in the event. So maybe I'll quickly start with a, to break the ice, a video of ours, recent marketing effort of ours.

And then I'll hand it over to Amit for the business discussion.

(video playing)

I welcome Amit to present about the strategic updates for us.

Amit Sinha

Mahindra Lifespace Developers Ltd - Chief Executive Officer, Managing Director, Director

Can you hear me back there? Just raise your hand if you can hear me, right? Very good. Any of you bought at Vista? I think Sriram bought, so at least he -- bought in Phase 1.

So I'll go

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