Mahindra Lifespace Developers on Saturday announced a 29 per cent jump in its stand alone profit after tax at Rs 30.49 crore in Q4 FY 11 from Rs 23.69 crore in the same period a year ago

The real estate and infrastructure development arm of the Mahindra Group reported an operating income of Rs 163.83 crore for Q4 FY 11, an increase of 62 per cent compared to Rs 100.96 crore in the same period last year.

For the year ended March 31, the real estate developer clocked a 30 per cent jump in its profit after tax at Rs 103.05 crore as compared to Rs 79.38 crore last year.

The company reported an operating income of Rs 476.56 crore for the year, an increase of 49 per cent as compared to Rs 320.05 crore the year before.

“We have achieved a significant growth in the March quarter. The Board of Directors recommended a dividend of 50 per cent on the equity capital share,” Mahindra Lifespace’s Chief Executive, Ms Anita Arjundas, told reporters here.

“We have also started acquiring land for our second World City in Chennai,” she said.

(This article was published on April 23, 2011)
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