Q3 2025 Mahindra Lifespace Developers Ltd Earnings Call Transcript
Key Points
- Mahindra Lifespace Developers Ltd (BOM:532313) reported a 41% growth in presales for the nine-month period of FY25, reaching INR1,749 crores compared to INR1,243 crores in the same period last year.
- The company has successfully completed a GDV addition of INR15,000 crores in the first ten months of FY25, including a significant joint development project in Bhandup.
- The industrial and commercial (IC) business showed strong performance with leasing of 47.3 acres, generating INR209 crores in revenue, with Mahindra World City, Jaipur leading the way.
- Mahindra Lifespace Developers Ltd (BOM:532313) has a healthy pipeline of projects, including major launches planned for Q4 FY25, such as Vista Phase 2 in Kandivali and Zen 2 in Bangalore.
- The company maintains a strong balance sheet with a net debt-to-equity ratio of 0.5, and plans to keep it below 0.6, ensuring financial stability and flexibility for future growth.
- The consolidated PAT for the nine-month period of FY25 showed a loss of INR23.8 crores, compared to a profit of INR26.8 crores in the same period last year, due to delays in obtaining occupancy certificates (OCs).
- Quarter three presales were muted at INR334 crores, down from INR443 crores in Q3 FY24, attributed to approval delays and market conditions.
- The affordable housing segment has seen a decline, dropping from 64%-65% of the market to 59%, impacting overall market dynamics.
- Approval delays, particularly in Mumbai, have affected project launches, with national and state elections contributing to the slowdown.
- The company's debt has increased to INR920 crores, with a gross debt of INR1,500 crores, raising concerns about future funding needs and potential capital raises.
Ladies and gentlemen, good day, and welcome to Mahindra Lifespace Developers Limited Q3 FY25 Earnings Conference Call. (Operator Instructions) Please note that this conference is being recorded. I now hand the conference over to Mr. Amit Kumar Sinha, MD and CEO, Mahindra Lifespace Developers Limited. Thank you, and over to you.
Thank you, Steve, very much appreciate it. Good morning, good day to everyone, and welcome to our quarter three FY25 earnings call. At the outset, I would like to thank everyone for participating in this conference call. I have the benefit of having our CFO, Avinash Bapat also with me; and also have Vimalendra Singh, who is the Chief Business Officer, Residential; and Sriram, who is our VP, Finance, who looks after all the partnerships, FP&A and Investor Relations. So all four of us there on the call, along with my colleague, Simran, who looks after this specific function with Sriram.
So let me just cover a few things very
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