Mahindra Lifespaces Q2 profit flat

Our Bureau Mumbai | Updated on October 19, 2012 Published on October 19, 2012

Rising raw material costs have erased gains for Mahindra Lifespaces Developers in the second quarter ended September 2012, with the company reporting a flat net profit.

The company’s profit after tax for the second quarter fell marginally to Rs 31.41 crore against Rs 31.44 crore in the year-ago period.

Its net sales also saw a decline of almost 11 per cent to Rs 83.83 crore against Rs 93.77 crore in the year-ago period.

The highlights of the company in this quarter included launch of phase one of Antheia project in Pune.

The company also commenced construction in phase-II of Iris Court at Chennai, promoted by the company’s subsidiary, Mahindra Integrated Township.

During the quarter, the company also acquired a land parcel in Alibaug under joint development basis to develop villas.

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Published on October 19, 2012
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