Mahindra Lifespace Developers (NSE:MAHLIFE) Beneish M-Score: -0.17 (As of Jul. 09, 2026)

What is Mahindra Lifespace Developers Beneish M-Score?

Mahindra Lifespace Developers NSE:MAHLIFE +2.49% 70 Beneish M-Score is -0.17 as of Jul. 09, 2026. GuruFocus rates NSE:MAHLIFE with a GF Score™ of 70/100 and a GF Value™ of ₹1,120.57 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 1,683 Real Estate companies, Mahindra Lifespace Developers ranks worse than 89.72% on this metric.

The zones of discrimination for M-Score is as such:

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator.
An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Warning Sign:

Beneish M-Score -0.17 higher than -1.78, which implies that the company might have manipulated its financial results.

The historical rank and industry rank for Mahindra Lifespace Developers's Beneish M-Score or its related term are showing as below:

NSE:MAHLIFE' s Beneish M-Score Range Over the Past 10 Years
Min: -3.23 Med: -2.02 Max: -0.17
Current: -0.17

During the past 13 years, the highest Beneish M-Score of Mahindra Lifespace Developers was -0.17. The lowest was -3.23. And the median was -2.02.

Mahindra Lifespace Developers Beneish M-Score Related Terms

Mahindra Lifespace Developers Beneish M-Score Historical Data

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The historical data trend for Mahindra Lifespace Developers's Beneish M-Score can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Mahindra Lifespace Developers Beneish M-Score Chart

Mahindra Lifespace Developers Annual Data

Trend

Mar17

Mar18

Mar19

Mar20

Mar21

Mar22

Mar23

Mar24

Mar25

Mar26

Beneish M-Score

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-1.23

-2.09

-1.11

-1.94

-0.17

Mahindra Lifespace Developers Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
Beneish M-Score	Get a 7-Day Free Trial															-1.94	0.00	0.00	0.00	-0.17

Mahindra Lifespace Developers Beneish M-Score Competitor Comparison

For the Real Estate - Development subindustry, Mahindra Lifespace Developers's Beneish M-Score, along with its competitors' market caps and Beneish M-Score data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.

Mahindra Lifespace Developers Beneish M-Score vs Real Estate Industry

For the Real Estate industry and Real Estate sector, Mahindra Lifespace Developers's Beneish M-Score distribution charts can be found below:

* The bar in red indicates where Mahindra Lifespace Developers's Beneish M-Score falls into.

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70GF Score

Mahindra Lifespace Developers Ltd NSE:MAHLIFE

Beneish M-Score is just one metric. See GF Score™, valuation, warning signs, and more.

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Mahindra Lifespace Developers Beneish M-Score Calculation

The M-score was created by Professor Messod Beneish. Instead of measuring the bankruptcy risk (Altman Z-Score) or business trend (Piotroski F-Score), M-score can be used to detect the risk of earnings manipulation. This is the original research paper on M-score.

The M-Score Variables:

The M-score of Mahindra Lifespace Developers for today is based on a combination of the following eight different indices:

-4.84

0.92 * DSRI

0.528 * GMI

0.404 * AQI

0.892 * SGI

0.115 * DEPI

-4.84

0.92 * 0.5246

0.528 * 1.3057

0.404 * 1.0356

0.892 * 3.1652

0.115 * 0.9431

0.172 * SGAI

4.679 * TATA

0.327 * LVGI

0.172 * 0.3769

4.679 * 0.101636

0.327 * 0.7974

-0.17

This Year (Mar26) TTM:

Last Year (Mar25) TTM:

Total Receivables was ₹2,526 Mil.
Revenue was ₹11,783 Mil.
Gross Profit was ₹1,355 Mil.
Total Current Assets was ₹66,227 Mil.
Total Assets was ₹82,948 Mil.
Property, Plant and Equipment(Net PPE) was ₹366 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹239 Mil.
Selling, General, & Admin. Expense(SGA) was ₹927 Mil.
Total Current Liabilities was ₹46,440 Mil.
Long-Term Debt & Capital Lease Obligation was ₹60 Mil.
Net Income was ₹2,981 Mil.
Gross Profit was ₹0 Mil.
Cash Flow from Operations was ₹-5,449 Mil.

Total Receivables was ₹1,521 Mil.
Revenue was ₹3,723 Mil.
Gross Profit was ₹559 Mil.
Total Current Assets was ₹51,682 Mil.
Total Assets was ₹64,208 Mil.
Property, Plant and Equipment(Net PPE) was ₹300 Mil.
Depreciation, Depletion and Amortization(DDA) was ₹178 Mil.
Selling, General, & Admin. Expense(SGA) was ₹777 Mil.
Total Current Liabilities was ₹35,906 Mil.
Long-Term Debt & Capital Lease Obligation was ₹9,232 Mil.

1. DSRI = Days Sales in Receivables Index

Measured as the ratio of Revenue in Total Receivables in year t to year t-1.

A large increase in DSR could be indicative of revenue inflation.

DSRI	=	(Receivables_t / Revenue_t)	/	(Receivables_t-1 / Revenue_t-1)
	=	(2525.967 / 11783.144)	/	(1521.228 / 3722.721)
	=	0.214371	/	0.408633
	=	0.5246

2. GMI = Gross Margin Index

Measured as the ratio of gross margin in year t-1 to gross margin in year t.

Gross margin has deteriorated when this index is above 1. A firm with poorer prospects is more likely to manipulate earnings.

GMI	=	GrossMargin_t-1	/	GrossMargin_t
	=	(GrossProfit_t-1 / Revenue_t-1)	/	(GrossProfit_t / Revenue_t)
	=	(558.89 / 3722.721)	/	(1354.807 / 11783.144)
	=	0.150129	/	0.114978
	=	1.3057

3. AQI = Asset Quality Index

AQI is the ratio of asset quality in year t to year t-1.

Asset quality is measured as the ratio of non-current assets other than Property, Plant and Equipment to Total Assets.

AQI	=	(1 - (CurrentAssets_t + PPE_t) / TotalAssets_t)	/	(1 - (CurrentAssets_t-1 + PPE_t-1) / TotalAssets_t-1)
	=	(1 - (66226.76 + 365.86) / 82948.271)	/	(1 - (51682.366 + 300.165) / 64207.715)
	=	0.197179	/	0.190401
	=	1.0356

4. SGI = Sales Growth Index

Ratio of Revenue in year t to sales in year t-1.

Sales growth is not itself a measure of manipulation. However, growth companies are likely to find themselves under pressure to manipulate in order to keep up appearances.

SGI	=	Sales_t	/	Sales_t-1
	=	Revenue_t	/	Revenue_t-1
	=	11783.144	/	3722.721
	=	3.1652

5. DEPI = Depreciation Index

Measured as the ratio of the rate of Depreciation, Depletion and Amortization in year t-1 to the corresponding rate in year t.

DEPI greater than 1 indicates that assets are being depreciated at a slower rate. This suggests that the firm might be revising useful asset life assumptions upwards, or adopting a new method that is income friendly.

DEPI	=	(Depreciation_t-1 / (Depreciaton_t-1 + PPE_t-1))	/	(Depreciation_t / (Depreciaton_t + PPE_t))
	=	(178.066 / (178.066 + 300.165))	/	(238.667 / (238.667 + 365.86))
	=	0.372343	/	0.3948
	=	0.9431

Note: If the Depreciation, Depletion and Amortization data is not available, we assume that the depreciation rate is constant and set the Depreciation Index to 1.

6. SGAI = Sales, General and Administrative expenses Index

The ratio of Selling, General, & Admin. Expense(SGA) to Sales in year t relative to year t-1.

SGA expenses index > 1 means that the company is becoming less efficient in generate sales.

SGAI	=	(SGA_t / Sales_t)	/	(SGA_t-1 /Sales_t-1)
	=	(926.617 / 11783.144)	/	(776.682 / 3722.721)
	=	0.078639	/	0.208633
	=	0.3769

7. LVGI = Leverage Index

The ratio of total debt to Total Assets in year t relative to yeat t-1.

An LVGI > 1 indicates an increase in leverage

LVGI	=	((LTD_t + CurrentLiabilities_t) / TotalAssets_t)	/	((LTD_t-1 + CurrentLiabilities_t-1) / TotalAssets_t-1)
	=	((59.66 + 46439.938) / 82948.271)	/	((9232.196 + 35905.955) / 64207.715)
	=	0.560586	/	0.703002
	=	0.7974

8. TATA = Total Accruals to Total Assets

Total accruals calculated as the change in working capital accounts other than cash less depreciation.

TATA	=	(IncomefromContinuingOperations_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(NetIncome_t - NonOperatingIncome_t	-	CashFlowsfromOperations_t)	/	TotalAssets_t
	=	(2981.267 - 0	-	-5449.282)	/	82948.271
	=	0.101636

An M-Score of equal or less than -1.78 suggests that the company is unlikely to be a manipulator. An M-Score of greater than -1.78 signals that the company is likely to be a manipulator.

Mahindra Lifespace Developers has a M-score of -0.17 signals that the company is likely to be a manipulator.

Frequently Asked Questions Learn more about Beneish M-Score →

What does a Beneish M-Score of -0.17 mean?

Mahindra Lifespace Developers (NSE:MAHLIFE) has a Beneish M-Score of -0.17 as of Jul. 09, 2026. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mahindra Lifespace Developers and its competitors. According to the industry distribution chart, Mahindra Lifespace Developers ranks #1510 out of 1683 companies in the Real Estate industry, placing it in the top 89.7%.

Is Mahindra Lifespace Developers' Beneish M-Score too high?

Mahindra Lifespace Developers' current Beneish M-Score is -0.17. Based on the distribution chart, Mahindra Lifespace Developers ranks #1510 out of 1683 companies in the Real Estate industry, which is in the bottom quartile relative to peers. Overall, Mahindra Lifespace Developers has a GF Score™ of 70/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.

How does Mahindra Lifespace Developers' Beneish M-Score compare to competitors?

According to the Real Estate industry distribution chart, Mahindra Lifespace Developers ranks #1510 out of 1683 companies for Beneish M-Score. This places Mahindra Lifespace Developers in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.

What is a good Beneish M-Score for a Real Estate company?

A good Beneish M-Score depends on the Real Estate industry context. However, Beneish M-Score should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.

What does a high Beneish M-Score mean?

A high Beneish M-Score can signal that a stock is expensive relative to its fundamentals. The Beneish M-score measures the likelihood of earnings manipulation. View historical data on Mahindra Lifespace Developers and its competitors. Mahindra Lifespace Developers's current Beneish M-Score is -0.17. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.

Is Mahindra Lifespace Developers stock overvalued right now?

Based on GuruFocus' analysis, Mahindra Lifespace Developers (NSE:MAHLIFE) is currently considered Possible Value Trap. The stock's GF Value™ is ₹1,120.57, compared to a current price of ₹368.00 — trading 67.2% below its estimated fair value. The current Beneish M-Score is -0.17. Mahindra Lifespace Developers' overall GF Score™ is 70/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is Beneish M-Score calculated?

Beneish M-Score is calculated from a company's financial statements. For Mahindra Lifespace Developers (NSE:MAHLIFE), the current Beneish M-Score is -0.17 as of Jul. 09, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Mahindra Lifespace Developers (NSE:MAHLIFE) Overvalued in 2026?

Based on GuruFocus' analysis, Mahindra Lifespace Developers stock appears to be undervalued. The current stock price of ₹368.00 is trading 67.2% below its estimated GF Value™ of ₹1,120.57. GuruFocus considers Mahindra Lifespace Developers to be Possible Value Trap.

Key valuation signals for NSE:MAHLIFE:

Beneish M-Score: -0.17
GF Value™: ₹1,120.57 vs. price of ₹368.00 (67.2% below fair value)
GF Score™: 70/100 with 4 warning signs

No single metric tells the full story. See the NSE:MAHLIFE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Mahindra Lifespace Developers Business Description

Industry Real Estate Real Estate

Comparable Companies BOM:544008 NSE:KALPATARU BOM:526367 NSE:DBREALTY NSE:IBULLSLTD BOM:532891 BOM:543669 BOM:543990 BOM:512179 BOM:539042 HKSE:00016 DFM:EMAAR HKSE:01109 STC:VHM HKSE:01113 ADX:ALDAR TSE:1925 HKSE:00688 BOM:532868 DFM:EMAARDEV

Other Exchanges 532313:India

Address Dr. G. M. Bhosale Marg, Mahindra Towers, 5th Floor, Worli, Mumbai, MH, IND, 400 018

Website https://www.mahindralifespaces.com

Mahindra Lifespace Developers Ltd is an India-based real estate development company. The firm, along with its subsidiary companies, is engaged in the development of residential projects and integrated large-format development. Its residential offering comprises mid-premium segment housing as well as affordable housing. It operates in a single business segment, construction and development of real estate projects.

70GF Score

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Beneish M-Score is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

₹368.00

Price

₹1,120.57

GF Value

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