Mahindra Lifespace Developers’ shares were up 6.85 per cent as the company is aiming for a five-time increase in business over the next five years. Under new CEO Amit Sinha, the company is targeting sales of Rs 10,000 crore by FY28, up from the current Rs 2,268 crore.
According to a report by ICICI Securities, the real estate developer has seen significant sales growth in recent years, rising from Rs 695 crore in FY21 to Rs 1,812 crore in FY23. They plan to launch 8–9 projects in FY24, with a combined gross development value of Rs 3,500–4,000 crore, anticipating a 1.5 times increase in sales value to around Rs 2,800 crore in FY25.
The company is building a project pipeline to support this growth, already securing projects with a revenue potential of Rs 40,000–50,000 crore over the next four years. The company’s integrated cities and industrial clusters (IC&IC) business remains stable, with an inventory of around 1,400 acres and a total sales value of approximately Rs 5,000 crore, targeting sales of Rs 500 crore.
Investor interest has risen as it pursues its growth objectives, increasing the company’s share price. MLD is positioning itself as a significant player in India’s real estate and infrastructure development sectors.
At 12:15 pm the shares were up 5.37 per cent at Rs 536.40 on the BSE.