Mahindra Lifespaces residential sales grow by 67%

Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development business of the Mahindra Group, announced its financial results for the quarter ended 31st March 2019.

FINANCIAL PERFORMANCE

With effect from 1st April 2018, the Company has adopted IND AS 115 and opted for modified retrospective method pertaining to recognition of revenue based on satisfaction of performance obligation (at a point in time). The financials of the prior reporting periods have not been restated. Hence, financials of FY19 are not comparable with previous reporting periods.

For Annual FY 2019:

- The consolidated total income stood at Rs. 654 crores against Rs. 644 crores in FY18.

- The EBITDA* stood at Rs. 160 crores against Rs. 180 crores in FY18, share of profit from associates has been Rs. 73 crores against Rs. 45 crores in FY18.

- The consolidated PAT, post minority interest, stood at Rs. 120 crores against Rs. 101 crores in FY18.

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