Mahindra Lifespaces Q2 profit flat

| Updated on: Oct 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.

Published on October 19, 2012

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