Mahindra Lifespaces Developers, the real estate and infrastructure development arm of the Mahindra Group, has posted a 14 per cent rise in net profit at Rs 33 crore (Rs 29 crore) for the quarter ended December 31, 2014.
Total income was up 66 per cent at Rs 239 crore against Rs 144 crore.
Anita Arjundas, MD & CEO, said, “Mahindra World City Jaipur added five new customers this quarter. Lowering of interest rates has sent out positive market signals and we continue to be optimistic about the long-term prospects for all our business segments.”
Jayantt Manmadkar, CFO, said price realisation in both residential and Mahindra World City businesses has also seen year-on-year increase.
The company scrip ended up by 1.86 per cent at Rs 515 on the BSE.