Mahindra Lifespace Developers logo

Mahindra Lifespace Developers

MAHLIFE NSE

Key Fundamentals

MicrocapResidential Commercial ProjectsRealty
Market Cap
₹7,549 Cr
Volatility
Moderate
P/E Ratio
22.66
EBITDA
₹-33.90 Cr
Return on Equity
8.22%
Debt to Equity
0.18
Book Value
₹169.98
EPS
₹7.43
52W High
₹427.05
52W Low
₹286.8

Tapetide Score

Data-driven rating, 0–100. How it works →

Key Insights

Strengths

4
  • Company has reduced debt.
  • Company has delivered good profit growth of 42.2% CAGR over last 5 years
  • Company has been maintaining a healthy dividend payout of 45.9%
  • Debtor days have improved from 130 to 70.7 days.

Weaknesses

3
  • Tax rate seems low
  • Company has a low return on equity of 6.18% over last 3 years.
  • Earnings include an other income of Rs.380 Cr.

Growth Rate

Revenue Growth
173% higher than 3Y
Net Income Growth
386% higher than 3Y
Cash Flow Change
-0.52% lower than 3Y
ROE
154% higher than 3Y
ROCE
173% lower than 3Y
EBITDA Margin (Avg.)
-84.11% higher than 3Y

AI Analysis — Bull vs Bear

Anthropic anthropic claude-opus-4.6 44d ago
AI opinion · based on fundamentals
Risk high

Mahindra Lifespace Developers, with a market cap of ~₹8,298 Cr, is in a high-growth phase — FY26 consolidated PAT jumped to ₹298 Cr from ₹61 Cr in FY25, and residential pre-sales grew 21% YoY to ₹3,405 Cr. However, the stock trades at a P/E of 24.8x despite a modest 3-year ROE of ~6%, and a significant portion of earnings includes other income of ₹380 Cr, raising questions about core operating profitability.

Bull Case 8
  • FY26 consolidated PAT surged nearly 5x to ₹298 Cr from ₹61 Cr in FY25, showing a sharp earnings recovery
  • Residential pre-sales grew 21% YoY to ₹3,405 Cr in FY26, with IC&IC segment sales up 44% YoY to ₹713 Cr
  • Company has moved to a net cash position with net debt-to-equity improving to -0.27 in FY26 from 0.39 in FY25
  • 5-year compounded profit CAGR of 42% demonstrates a sustained earnings growth trajectory
  • Debtor days improved from 130 to 70.7 days, signalling better working capital efficiency
  • Aggressive land bank with projects worth ₹50,000 Cr GDV secured as of June 2026, targeting ₹9,500-10,000 Cr annual pre-sales by FY30
  • Q1 FY27 pre-sales more than doubled YoY to ₹925 Cr with PAT up 67% YoY to ₹86 Cr, maintaining momentum
  • Healthy dividend payout ratio of 45.9% provides income to shareholders, with current yield at 0.91%
Bear Case 8
  • 3-year average ROE remains low at ~6.18%, well below the realty sector median, indicating weak capital efficiency
  • Earnings include other income of ₹380 Cr, which is larger than the core operating profit in some periods, questioning sustainability
  • TTM revenue growth of 876% is distorted by the project completion accounting method (Ind AS 115), making revenue recognition lumpy and unpredictable
  • P/B ratio of 2.27x is elevated for a company with sub-10% ROE, implying the market is pricing in future growth that may not materialise
  • Stock CAGR of -6% over 3 years shows the market has not rewarded shareholders despite the profit growth narrative
  • Tax rate appears low, suggesting profits may be inflated by non-recurring items or deductions that may not persist
  • 10-year compounded sales CAGR of only 7% highlights historically sluggish top-line growth despite aggressive targets
  • Execution risk is high as ₹50,000 Cr GDV pipeline requires significant capital deployment, regulatory approvals, and sustained housing demand across multiple cities

This is AI-generated analysis, not financial advice. Do your own due diligence.

AI News Digest

Anthropic anthropic claude-opus-4.6 42d ago
Positives 5
  • Q1 profit surges 67% YoY Jul 24

    Consolidated net profit rose 67% YoY to ₹856 crore in Q1FY27, with residential pre-sales doubling (+106%) to ₹925 crore and EBITDA turning positive at ₹95 crore.

  • Ambitious GDV target set Jul 27

    Company targets GDV of ₹10,000–20,000 crore this year with ₹5,600 crore already locked in from the Kandivali deal, and FY27 pre-sales guidance of ₹4,500–5,000 crore supported by ~₹10,000 crore inventory.

  • ₹3.50 dividend declared at AGM Jul 23

    Shareholders approved a ₹3.50 per share dividend at the 27th AGM held July 23, 2026.

  • Sumitomo JV expansion in Chennai Jul 23

    Signed Second Supplemental Agreement on July 22 with Sumitomo Corporation to develop Phase 2B of Origins by Mahindra industrial park in Chennai, extending the 2015 JV.

  • Strong Q2 FY27 pipeline flagged Jul 23

    Co-MD highlighted a strong launch pipeline for Q2 FY27, signalling continued operational momentum heading into the next quarter.

Neutral 3
  • Cost auditor appointed for FY27 Jul 23

    Board approved CMA Vaibhav Prabhakar Joshi as Cost Auditor for FY 2026-27 on July 23, 2026.

  • Q1 FY27 earnings call hosted Jul 15

    Earnings conference call scheduled and held on July 24 at 3:30 PM IST to discuss Q1 FY27 results.

  • Residential price growth moderating Jul 27

    Management expects residential price growth to moderate to 4%–6%, down from earlier cycles, though volume targets remain elevated.

TL;DR: Mahindra Lifespace delivered a standout Q1FY27 with profit up 67% and pre-sales doubling, backed by aggressive GDV targets and a healthy inventory pipeline. The Sumitomo partnership extension and dividend declaration reinforce confidence. No material headwinds emerged, though management itself guided for moderating price growth at 4%–6%. The trend is clearly improving, with execution on the Kandivali project and Q2 pipeline being key near-term catalysts to watch.

Quarterly Results

Particulars Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales
98
18
82
14
188
8
167
9
32
18
459
670
962
Expenses
141
53
121
68
230
55
193
64
87
70
429
714
868
Operating Profit
-43
-35
-39
-54
-42
-48
-25
-55
-55
-52
30
-44
94
OPM %
-44%
-196%
-48%
-379%
-22%
-627%
-15%
-597%
-172%
-299%
6%
-7%
10%
Other Income
37
8
82
119
55
45
28
149
107
112
107
137
24
Interest
4
0
0
3
6
7
4
2
4
2
2
3
2
Depreciation
3
3
4
4
4
4
4
6
6
7
6
6
5
PBT
-14
-30
39
59
3
-14
-5
87
42
51
129
84
111
Tax %
-69%
-36%
-28%
-22%
-314%
0%
336%
2%
-23%
6%
16%
-7%
23%
Net Profit
-4
-19
50
71
13
-14
-22
85
51
48
109
90
86
EPS in Rs
-0.2
-0.89
2.35
3.36
0.6
-0.66
-1.05
3.99
2.4
2.25
5.1
4.22
4.01
Figures in ₹ Crores

Profit & Loss

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales
1,086
593
762
566
593
611
166
394
607
212
372
1,178
2,108
Expenses
662
508
712
509
567
692
260
481
717
383
542
1,300
2,081
Operating Profit
424
86
50
57
26
-81
-94
-88
-110
-171
-170
-121
28
OPM %
39%
14%
7%
10%
4.4%
-13%
-56%
-22%
-18%
-81%
-46%
-10%
1.3%
Other Income
61
92
113
123
134
-100
34
200
239
246
277
462
380
Interest
51
36
20
41
12
8
11
7
11
7
19
11
9
Depreciation
13
4
5
4
4
8
7
7
12
14
18
24
23
PBT
421
138
139
135
143
-196
-78
99
106
54
70
306
375
Tax %
33%
31%
24%
23%
17%
-1%
-8%
-63%
3%
-81%
13%
3%
—
Net Profit
283
95
106
103
119
-195
-71
162
103
98
61
298
332
EPS in Rs
12.59
4.34
4.83
4.77
5.65
-9.13
-3.38
7.27
4.77
4.61
2.87
13.97
15.58
Div. Payout %
18%
27%
24%
30%
26%
0%
0%
20%
35%
42%
71%
25%
—
Figures in ₹ Crores

Balance Sheet

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Equity Capital
41
41
41
51
51
51
51
155
155
155
155
213
Reserves
1,434
1,589
1,659
2,008
1,878
1,650
1,580
1,634
1,651
1,718
1,741
3,414
Borrowings
1,238
784
652
459
228
237
245
286
268
877
1,439
662
Other Liabilities
896
596
535
481
836
603
697
963
1,537
2,199
3,085
4,006
Total Liabilities
3,609
3,010
2,886
2,998
2,994
2,542
2,573
3,037
3,611
4,949
6,421
8,295
Fixed Assets
354
77
100
95
95
98
91
103
37
24
26
27
CWIP
8
1
8
9
10
12
15
3
5
5
5
10
Investments
222
816
742
926
688
548
558
622
905
914
904
1,269
Other Assets
3,026
2,116
2,036
1,967
2,201
1,883
1,909
2,308
2,664
4,006
5,486
6,988
Total Assets
3,609
3,010
2,886
2,998
2,994
2,542
2,573
3,037
3,611
4,949
6,421
8,295
Figures in ₹ Crores

Cash Flow

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Operating
300
-174
70
194
168
-63
-68
-52
-148
-661
-542
-545
Investing
42
106
141
-180
288
88
110
123
26
214
273
-145
Financing
-336
139
-255
-40
-370
-67
-20
12
-27
489
416
531
Net Cash Flow
6
72
-44
-25
85
-42
23
83
-149
42
147
-159
Free Cash Flow
250
-177
58
193
164
-66
-71
-53
-162
-677
-556
-563
CFO/OP
101
-145
172
369
753
61
59
39
124
384
298
415
Figures in ₹ Crores

Ratios

Particulars Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Debtor Days
16
39
36
94
85
68
124
85
78
184
136
71
Cash Conversion Cycle
16
39
36
94
85
68
124
85
78
184
136
71
Working Capital Days
714
696
514
630
547
569
1,939
724
394
2,238
1,237
420
ROCE %
17%
7%
7%
7%
6%
-3%
-3%
1%
2%
2%
2%
8%

Insights

Beta

AI-extracted from concalls & annual reports · figures as reported, with sources

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Shareholding Pattern

Others3.58%Promot.52.41%FIIs7.38%Public13.87%DIIs22.76%As ofJun 2026

Documents

Frequently Asked Questions about Mahindra Lifespace Developers

What does Mahindra Lifespace Developers Ltd do?
Mahindra Lifespace Developers Ltd was incorporated in 1999, it is engaged in the business of development of the real estate, residential facilities, commercial complexes and through its subsidiary companies is involved in various infrastructure projects including the development of SEZs and Indus...
Where is Mahindra Lifespace Developers Ltd (MAHLIFE) listed?
Mahindra Lifespace Developers Ltd trades as MAHLIFE on the NSE and under code 532313 on the BSE.
Which sector does Mahindra Lifespace Developers Ltd belong to?
Mahindra Lifespace Developers Ltd is classified under the Realty sector, in the Residential Commercial Projects industry.
What is the market capitalisation of Mahindra Lifespace Developers Ltd?
Mahindra Lifespace Developers Ltd has a market capitalisation of ₹7,549 Cr, which places it in the Mid Cap band.
What is the PE ratio of Mahindra Lifespace Developers Ltd?
Mahindra Lifespace Developers Ltd trades at a PE ratio of 22.66, on earnings per share of ₹7.43, against a book value of ₹169.98 per share.
What is the 52-week high and low of Mahindra Lifespace Developers Ltd?
Over the last 52 weeks Mahindra Lifespace Developers Ltd has traded between ₹286.8 and ₹427.05.
Does Mahindra Lifespace Developers Ltd pay dividends?
Mahindra Lifespace Developers Ltd has a dividend yield of 0.97%.
What is the Return on Equity (ROE) of Mahindra Lifespace Developers Ltd?
Mahindra Lifespace Developers Ltd reported a return on equity of 8.22%. Its debt-to-equity ratio is 0.18.

Company Information

Mahindra Lifespace Developers Ltd was incorporated in 1999, it is engaged in the business of development of the real estate, residential facilities, commercial complexes and through its subsidiary companies is involved in various infrastructure projects including the development of SEZs and Industrial Clusters. [1][2]

Website mahindralifespaces.com
CEO Mr. Amit Kumar Sinha
Listed 2000-05-10
Face Value ₹ 10
Issued Size 21,33,14,253

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