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Mahindra Lifespace shares drop 1% lower, wipes out early gains

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Mahindra Lifespace shares drop 1% lower, wipes out early gains

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The company had reported a net loss of Rs 71.7 crore in FY21. Its consolidated total income stood at Rs 408.2 crore in the last fiscal, against Rs 187.8 crore in FY21, according to a regulatory filing.

Mahindra Lifespace shares drop 1% lower, wipes out early gains
Shares of Mahindra Lifespace Developers Ltd on Thursday pared all its early gains and ended nearly 1 percent lower. In early trade, it had jumped nearly 8 percent after the company reported a consolidated net profit of Rs 154.5 crore for the last fiscal.
The stock had gained 6.17 percent to Rs 392.60 during the day on the BSE. But, it gave up all the gains during the fag-end trading to end at Rs 367, lower by 0.74 percent. At the NSE, it ended at Rs 367, down 0.77 percent after rallying 7.66 percent to Rs 398.20 during the day.
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The company had reported a net loss of Rs 71.7 crore in FY21. Its consolidated total income stood at Rs 408.2 crore in the last fiscal, against Rs 187.8 crore in FY21, according to a regulatory filing.
Arvind Subramanian, Managing Director and CEO, Mahindra Lifespace Developers Ltd, said, "FY22 has been a year of strong growth. Our residential pre-sales grew by almost 50 per cent to Rs 1,028 crore, while our industrial leasing has grown by 130 percent to Rs 298 crore".
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