Mahindra Lifespace Developers (532313) Q4 04/05 earnings summary

Executive summary

• FY05 standalone PBT rose to ₹1,334 lakh from ₹769 lakh; PAT reached ₹785 lakh vs ₹636 lakh, while total income declined ~5% as rental and other income fell.

• Project revenue mix increased to 81% of total revenue from 51%; launches in Pune sold rapidly, and operations began in Chennai.

Financial highlights

• Standalone operating income was ₹9,145.94 lakh vs ₹7,139.01 lakh; total income was ₹9,494.75 lakh vs ₹10,067.01 lakh.

• Standalone operating expenses were ₹8,160.72 lakh vs ₹9,297.82 lakh; interest and finance charges fell to ₹613.65 lakh from ₹1,453.52 lakh.

• Standalone PAT was ₹785.49 lakh vs ₹636.45 lakh; EPS was ₹2.53 vs ₹1.78.

• Consolidated operating income was ₹12,334.79 lakh and total income ₹12,700.09 lakh; consolidated net profit was ₹34.99 lakh, with EPS of ₹0.11.

Outlook and guidance

• FY06 priorities include residential launches, broader geographic reach and expansion into smaller metros and emerging urban centres.

• Management expected buoyant real estate markets, with growth supported by innovative residential and commercial products.

• A Chennai residential development at Mahindra World City was planned, comprising apartments, row houses and bungalows.