Comments
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.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.