Mahindra Lifespaces' consolidated Annual Operating income increases by 15%

Standalone Q4 PAT increases by 5%

Board declares 60% dividend

 

Mumbai, April 27, 2012: Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, announced their audited results for the year ended 31st March 2012 today. The Board of Directors recommended a dividend of 60% on the Equity Share Capital.

 

Consolidated Results - F12

 The consolidated Operating income for the year is Rs. 701.27 Crores as against Rs. 611.93 crores in the previous year registering an increase of 15%. The consolidated PAT, after minority interest, for the year ended March, 2012 is at Rs. 119.08 crores, registering an increase of 10% as compared to Rs. 108.17 crores for the year ended March, 2011.

 

Stand-alone results - F12

On a stand alone basis, the Operating income for the year ended March 2012 is at Rs. 468.95 crores as compared to Rs. 476.56 crores for the year ended March, 2011. The PAT for the year ended March, 2012 is at Rs. 120.17 crores registering an increase of 17% as compared to Rs. 103.05 crores for the year ended March, 2011.

 

Stand-alone results - Q4 F12

The Company reported an Operating income  of Rs.139.96 crores for the quarter as compared to  Rs. 163.83 crores in Q4 F11 and Rs 153.77 crores in Q3 F12. The PAT for the quarter, is at  Rs.32.12 crores, as compared to Rs. 30.49 crores in Q4 F11 and  Rs.39.51 crores in Q3 F12.

 

Operations

The Company's projects, Aura in NCR and Bloomdale (Mahindra Bebenco Developers Ltd.)  at Nagpur met with an excellent response with the units launched at Aura being completely taken up and Bloomdale recording impressive sales within 45 days of formal launch. Execution across locations maintained a brisk pace especially at Aura, NCR and Eminente, Mumbai. The first phase of Aqualily villas (Mahindra Residential Developers Ltd.), Chennai was completed during the quarter. Handover of units, to customers, of the last phase of Royale, Pune is almost complete and hand-over of Splendour Phase I, Mumbai is underway.

 

The Company is awaiting approvals for its new projects at Pune and Hyderabad and for subsequent phases of Iris Court (Mahindra Integrated Township Ltd.) at Chennai, which will enable it to launch the same at the earliest.

 

At Mahindra World City, Chennai, the integrated business city promoted by the Company through its subsidiary, Mahindra World City Developers Ltd., the total number of customers as of Q4 F12 was at 60, of which 39 campuses / facilities are operational. Exports by companies at Mahindra World City, Chennai was around Rs. 4500 crores for the year ended 31st March 2012. During the year, Mahindra World City, Chennai signed MoUs with 5 industrial customers for space in the Domestic Tariff Area (DTA). It also added one more critical element of social infrastructure during the quarter by signing up JSP Hospitals who will establish a 30 bed hospital at Mahindra World City. During the year, Mahindra World City Developers Ltd., continued with the land procurement process for its next project at Chennai.

 

?At Mahindra World City, Jaipur, the 2nd such project promoted by the Company, through its subsidiary, Mahindra World City Jaipur Ltd., the total number of customers is at 37 of which 8 customer campuses / facilities are operational and another 11 customers have initiated development. During the year, Mahindra World City, Jaipur obtained notification for its 2nd IT SEZ and for a Gems & Jewellery SEZ, from the Ministry of Commerce, taking the total number of notified SEZs within Mahindra World City to 5. Over 3000 persons are directly employed by the companies at Mahindra World City, Jaipur and exports by companies was around Rs. 300 crores during the year ended 31st March 2012. During the quarter, the Company added a large, multinational OEM to its Domestic Tariff Area (DTA) at Mahindra World City, Jaipur and signed 2 MoUs, one with the same customer for space in the Engineering SEZ and the other with a leading, international manufacturing company for space in the DTA. The total number of MoUs are at 5.

 

About Mahindra Lifespace Developers Ltd.

 Mahindra Lifespace Developers Ltd has been at the forefront of urban development in the country. A part of the US $14.4 billion Mahindra Group, the company has pioneered the development of integrated business cities in India. Mahindra Lifespaces delivers quality living spaces to its customers for healthy living through consistent focus on thoughtful, eco-friendly master-planning and sustainable development. It also offers the comfort of fair and transparent dealings backed by the trust and credibility of the Mahindra Group.

 

The Company has completed development of over 7 million square feet of premium residential and commercial properties in Mumbai, Pune, NCR, Chennai and has another 4 million square feet under development as also the Mahindra World Cities at Chennai and Jaipur. In tandem with the increasing footprint, the brand is also gaining recognition and has been rated as one of India’s Top 10 Builders, by the CONSTRUCTION WORLD for the 2nd successive year.

For further information, please visit www.mahindralifespaces.com Connect with us on https://www.facebook.com/MahindraLifespaces

 

About the Mahindra Group 

The Mahindra Group focuses on enabling people to rise. Mahindra operates in the key industries that drive economic growth, enjoying a leadership position in tractors, utility vehicles, information technology and vacation ownership. Mahindra has a presence in the automotive industry, agribusiness, aerospace, components, consulting services, defence, energy, financial services, industrial equipment, logistics, real estate, retail, steel and two wheelers. A USD 14.4 billion multinational group based in Mumbai, India, Mahindra employs more than 144,000 people in over 100 countries.

 

In 2011, Mahindra featured on the Forbes Global 2000 list, a listing of the biggest and most powerful listed companies in the world. Dun & Bradstreet also ranked Mahindra at No. 1 in the automobile sector in its list of India’s Top 500 Companies. In 2010, Mahindra featured in the Credit Suisse Great Brands of Tomorrow. In 2011, Mahindra acquired a majority stake in Korea’s SsangYong Motor Company.

 

For further information, please visit www.mahindra.com Connect with us on www.facebook.com/mahindragroup

 

For further enquiries, please contact:

Ms. Roma Balwani                                       

Senior Vice President and Group Head, Corporate Communications

Mahindra & Mahindra Ltd                              

Tel: (91-22) 24975176                                     

Email: balwani.roma@mahindra.com