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Shares of Mahindra Lifespace Developers hit a record high of Rs 439.85 and surged 6 per cent on the BSE in Monday’s intra-day trade, on expectation of favourable demand situation in India’s real estate sector.
The stock of Mahindra Group company surpassed its previous high of Rs 435 that it had touched on June 13, 2022. So far in 2022, the market price of the realty company has zoomed 81 per cent, as compared to 9 per cent decline in the S&P BSE Sensex.
Analysts believe that Mahindra Lifespace is well placed to leverage this environment, in order to grow further, with strong additions in land bank for residential projects and plug-and-play infrastructure across multiple corridors in the industrial business. That said, it also has a strong balance sheet and the ability to raise capital at competitive terms to fund its growth aspirations.
“The success in deploying technology and innovative construction techniques to drive efficiencies; focus on sustainability and creating differentiated offerings; and its ability to build motivated teams and a high-performance organisation sets the company apart among its peers — and signals its inherent potential to move to a higher growth trajectory. Therefore, we remain optimistic about the company’s outlook for 2022-23,” the company said.
That apart, though demand for residential developments were dented in the first quarter of FY22, it recovered post lockdown and covid-19 curbs were lifted. As the year progressed, the company saw strong demand in the latter half of the year.
The development footprint of Mahindra Lifespace spans 29.9 million sq. ft. (2.78 million sq. m.) of completed, ongoing and forthcoming residential projects across six Indian cities. Mahindra Lifespaces’ development portfolio comprises of premium residential projects; value homes under the ‘Mahindra Happinest®’ brand; and integrated cities and industrial clusters under the ‘Mahindra World City’ and ‘Origins by Mahindra’ brands, respectively.
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