India · Delayed Price · Currency is INR Mahindra Lifespace Developers Earnings Call Transcripts
Fiscal Year 2026
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Strong FY 2026 performance with INR 3,400 crore residential pre-sales and INR 298 crore PAT, supported by robust launches, strategic partnerships, and a healthy balance sheet. FY 2027 guidance targets INR 4,500-5,000 crore pre-sales and continued growth in both residential and industrial segments.
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Q3 saw strong residential and IC sales, with nine-month PAT at INR 208 crore and robust project launches. The company maintains a healthy balance sheet, targets INR 4,500–5,000 crore pre-sales for FY 2027, and continues to focus on mid-premium and premium segments.
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Strong H1 sales and profit growth were driven by robust residential and IC performance, with a healthy balance sheet and major launches planned for H2. Regulatory approvals and execution remain key priorities, while the company targets INR 4,500–5,000 crore pre-sales in FY27.
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Q1 FY 2026 delivered strong GDV additions, robust IC leasing, and a successful rights issue, resulting in a debt-free position and negative net debt-to-equity. Regulatory delays in Mumbai impact launches, but the launch pipeline and market demand remain healthy, supporting a 25%-30% annual growth outlook.
Fiscal Year 2025
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FY25 saw record GDV addition, strong pre-sales, and robust cash flows, with a strategic pivot to premium housing and a healthy IRR profile. Rights issue proceeds will reduce debt and support selective growth, while the outlook targets ₹8,000–10,000 crore pre-sales by FY2030.
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Strong GDV additions and 41% pre-sales growth highlight robust business momentum, though Q3 was muted due to approval delays. Focus is shifting to execution, with a healthy launch pipeline and prudent capital management, targeting IRRs above 18% and net debt/equity below 0.6.
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H1 FY25 saw strong pre-sales and operating cash flow growth, with robust industrial leasing and a healthy launch pipeline for H2. Conservative leverage and a focus on mid-premium/premium segments support future growth, despite some project approval delays.
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Q1 FY25 saw a 3x jump in pre-sales to INR 1,019 crore, driven by new launches and strong market demand, with significant GDV additions and improved profitability. Net debt and cost of debt declined, and a robust launch pipeline is set for FY25.