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Corporate Results
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Real Estate & Construction
Mahindra Lifespace Q1 net down
Mumbai, July 28
Mahindra Lifespace Developers Ltd, the real estate
and infrastructure development arm of the
Mahindra Group, reported a 20 per cent drop in net profit
to Rs 9.75 crore during the first quarter of the current
financial year. The profit after tax of Rs 12.20 crore, for
the corresponding period last year included Rs 4.87 crore
on account of one time profit on sale of investments. After
excluding this one time profit, the profit for the current
quarter, on a comparable basis, is higher than the profit
for the year-ago period by 33 per cent, said a company
release here. The company has shown a 14 per cent rise in
its total income at Rs 53.96 crore in the first quarter of the
financial year 2009, against Rs 47.41 crore in the first
quarter of the financial year 2008. - Our Bureau
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