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New Delhi, Realty firm <keyword id="143494" type="General" weightage="20" keywordseo="Mahindra-Lifespace" source="Orion">Mahindra Lifespace</keyword> Developers Ltd on Friday reported a consolidated net loss of Rs 18.93 crore for the second quarter ended September on lower income. Its net loss stood at Rs 7.51 crore in the year-ago period. Total income declined to Rs 25.7 crore during the July-September period of the 2023-24 financial year from Rs 73.82 crore in the corresponding period of the previous year, according to a regulatory filing. Mahindra Lifespace is the real estate and infrastructure development arm of the business conglomerate Mahindra Group. On the operational front, the company said it achieved pre-sales of Rs 455 crore in residential business. It launched 0.47 million square feet of saleable area at Tathawade Phase 3 in Pune. The company collected Rs 311 crore in residential business. Mahindra Lifespace achieved land leasing of 9.9 acres in the industrial business for Rs 32.2 crore. The company's development footprint spans 34.46 million square feet of completed, ongoing, and forthcoming residential projects across seven Indian cities. It has over 5,000 acres of ongoing and forthcoming projects under development and management at its integrated developments and industrial clusters across four locations.

Mahindra Lifespace posts nearly Rs 19 crore loss in September quarter

<ul><li>Shares of some <keyword id="6354553" type="General" weightage="20" keywordseo="real-estate" source="Orion">real estate</keyword> developers like <keyword id="6362997" type="General" weightage="20" keywordseo="dlf" source="Orion">DLF</keyword>, <keyword id="139366" type="General" weightage="20" keywordseo="sobha" source="Orion">Sobha</keyword>, Prestige Estate Projects have gained 13-33% in the last 30 days.</li><li>Home loans segment is witnessing strong demand with lowest mortgage loan rates since 2005.</li><li>Analysts believe the real estate sector is set for an upcycle with the coming festive season, low home loan rates, stable property prices and robust hiring by IT companies are expected to support housing demand.</li></ul>Real estate company stocks are back in action with shares of such companies buzzing since the last few weeks. Analysts believe that the fact that we are heading into the festive season with low home loan rates, stable property prices and robust hiring by information technology (IT) companies are expected to support housing demand. Shares of some real estate developers like DLF, Sobha, Prestige Estate Projects have gained 13-33% in the last 30 days. Nifty Realty index has gained close to 5% in the last 30 days while BSE Realty index has gained over 7% during the period. <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Real estate company stocks </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Year-to-date change </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sobha </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">101% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Prestige Estate Projects </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">83% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Brigade Enterprises </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">57% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Oberoi Realty </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">38% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Sunteck Realty </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">8% </td></tr><tr><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Mahindra Lifespace Developers </td><td style="border-left:solid #000000 0.8333325pt;border-right:solid #000000 0.8333325pt;border-bottom:solid #000000 0.8333325pt;border-top:solid #000000 0.8333325pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">123% </td></tr></tbody><tbody></tbody><tbody></tbody></table> Analysts believe that the real estate residential segment is set for an upcycle. “Heading into the festive season in India in H2 [second half] FY22, listed developers have lined up a number of launches across tier I cities. Low mortgage rates, stable property prices and robust hiring outlook for IT/ITeS [IT-enabled services] and financial services, especially in south India and continued work-from-home is expected to support residential housing demand,” said a report by ICICI Securities, dated September 4. The report says DLF, Oberoi Realty, Brigade Enterprises, Sunteck Realty and Mahindra Lifespaces are some preferred stocks by the broking firm in the realty segment. The report shows that the home loan rates offered by most large lenders range in the 7-7.5% range for 20-year housing loans and is the lowest ever since 2005. The Indian real estate performance has been affected for many years owing to demonetisation, real estate regulatory authority (RERA)/goods and services tax (GST) implementation, NBFC funding crisis and the first and second waves of the COVID-19 pandemic in India. “However, heading into FY22 and beyond, we believe that the sector is set for an upcycle,” said analysts at ICICI Securities. RERA came into action in 2017 to ensure transparency in the real estate segment thereby tightening rules, which made it difficult for developers to launch new projects without approvals. And in the last few years, non-banking financial companies have seen a <a href="https://www.moneycontrol.com/news/business/all-you-want-to-know-about-the-nbfc-crisis-3966551.html">liquidity crisis led by IL&amp;FS group. </a> Gagan Banga, managing director of Indiabulls Housing Finance, in an interview with CNBC-TV18 said that they are seeing strong demand in home loans. “Mid-income group is showing a lot of demand, the best in 15 years,” he said. “The Indian real estate sector is at a crossroads. After a gap of almost eight years, demand seems to be picking up in the residential segment aided by improved affordability, COVID-19 induced factors and government measures to boost housing absorption,” said a report by Edelweiss Securities. Further, analysts feel the residential market will do well in the near future. Listed players have gained market share with new launches in the last 2-3 years and they expect it to continue. Yash Gupta, equity research analyst at Angel Broking, says he expects the residential market to do well in the near future. Also, expect new hiring by [the] IT industry to increase residential demand in Bangalore, Pune and Chennai. “We have seen a strong consolidation in the top 10 cities in India towards organised players post Demon [demonetisation], RERA, IL&amp;FS crisis. Listed players have gained market share in new launches in the last 2-3 years, we expect this to continue,” he said. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/jiophone-next-is-the-new-weapon-in-ambanis-arsenal-as-he-takes-aim-at-the-500-million-subscriber-mark/articleshow/85974565.cms">JioPhone Next is the new weapon in Ambani’s arsenal as he takes aim at the 500 million subscriber mark</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/personal-finance/income-tax/news/do-not-forget-to-check-form-26as-before-filing-your-income-tax-return-heres-why/articleshow/85972783.cms">Do not forget to check form 26AS before filing your income tax return. Here’s why</a>

Sobha, Mahindra Lifespace become multibaggers in 2021 as analysts see strong upside in realty space

<ul><li>The pandemic has revolutionized the way <keyword id="6354553" type="COMPANY" weightage="20" keywordseo="real-estate">real estate</keyword> functions, markets and communicates.</li><li><keyword id="222141" type="PERSON" weightage="20" keywordseo="Viral-Oza">Viral Oza</keyword>, Chief <keyword id="6354839" type="UNKNOWN" weightage="20" keywordseo="marketing">Marketing</keyword> Officer, <keyword id="174745" type="COMPANY" weightage="20" keywordseo="Mahindra-Lifespaces">Mahindra Lifespaces</keyword> walks us through the smaller and larger changes in the organization and how they are adapting to the rapidly evolving ecosystem and changing <keyword id="774347" type="PERSON" weightage="20" keywordseo="Consumer-expectations">consumer expectations</keyword>.</li></ul> It’s been a little more than a year since the word ‘lockdown’ entered our lives and seems like it is here to stay for some more time. In this last year, businesses have undergone massive transformation, they have had to reinvent themselves, rethink the way they function, sell and communicate. Many industries like real estate, which had already been facing a slowdown due to factors like demonetization, the GST implementation and RERA, 2020 had been expected to be a year of recovery. However, with the pandemic, a lot of things came to a screeching stop. While things started opening up from June, with the labor away from cities, it was still some time before the real estate sector could find stability. However, the positive outcome of this entire experience was of the sector realizing the importance of digital as a medium, not just for communicating with its consumers but also how properties are being sold in the country. We recently caught up with Viral Oza, CMO, Mahindra Lifespaces who spoke to us about some of the profound changes that were brought about in the real estate segment in the last one year, how that is transforming the how and what of their products and services. He also spoke to us about how marketing for the sector is evolving and how traditional mediums need to innovate to make sure it continues to add value to the industry in the future, which is now seeing massive digital adoption. <cmsannotation type="cmsannotation" annotationid="The changes in consumer behavior and its impact on real estate" text="The changes in consumer behavior and its impact on real estate">The changes in consumer behavior and its impact on real estate</cmsannotation> House-buying is a very physical experience but with people stuck at their homes, real estate players adopted digital and there were quite a few virtual launches. While many had thought people would become more careful about their spending, the pent up demand after the first few months of the lockdown meant good enquiries and sales once things started opening up. For people, their priorities changed. Health and wellness of their own and of their loved ones became top-of-mind for most people. “With this consciousness, people also became more conscious of the spaces they wanted to buy. Today consumers are not just thinking about the size of the house, it is just as much about how the spaces are being utilized. People are thinking of whether developers are providing enough open, outdoor space, considering in this new world, being in a closed area is not as safe,” explained Oza. With lots of people having to work from home, how the homes are more conducive to this new lifestyle has also become an important part of people’s considerations and the player has been listening to its consumers and innovating accordingly. For example, in its Happinest project in Tathawade (Pune), they have added outdoor, secluded working pods to make the overall experience of working from home more comfortable. People are also becoming more conscious about the locality they choose and also giving more importance to sustainability. “The lockdown created appreciation in all of us for nature, when you could hear the chirping of birds during the start of the lockdown. This consciousness is great for us as a brand because we've been very conscious of the environment and are probably one of the few brands that has a 100% green portfolio. We are extremely conscious, not just of the end game but even in how we construct. Our construction processes are environment-friendly and we try and source raw materials within a certain catchment area to reduce our carbon footprint. This becomes extremely important for us because it is one of the pillars that we have been building our business on,” he added. <cmsannotation type="cmsannotation" annotationid="The post-lockdown revival" text="The post-lockdown revival">The post-lockdown <keyword id="6367707" type="UNKNOWN" weightage="20" keywordseo="revival">revival</keyword></cmsannotation> While Mumbai is again witnessing weekend lockdowns and increasing restrictions currently, the industry did witness the start of revival after things started opening up last year. “We've seen a fairly good comeback, if I might call it that, to our projects. In fact, we've seen it across the few launches we've made and also across some of our existing properties. Some of it has been pent-up demand but the next few months will really tell us if this is a long-term sustained change coming back to the category or not. We have also realized that challenging or questioning the status quo is more an issue with brands than with consumers,” he said. Explaining how consumers are open to these changes, he said that their launch of Happinest, Palghar was done completely virtually and in a contactless manner. “It was a risk and we were not sure how it would pan out. But we actually got over 300 bookings in four weeks,” he shared. <cmsannotation type="cmsannotation" annotationid="Marketing mediums and Mahindra Lifespaces" text="Marketing mediums and Mahindra Lifespaces">Marketing mediums and Mahindra Lifespaces </cmsannotation> For real estate, till before the pandemic hit, traditional mediums like Print, OOH and Radio accounted for their highest media spends. All of that has changed in the last one year. “Last year, it was all apart finding the right way of communicating with our consumers. There has been an obvious shift to digital. We had to get used to the fact that for those months, social media and digital platforms were our only modes of communication. Fortunately, we were already present on digital so it wasn’t a very big move for us. Also, real estate as a category hasn't had the advantage of TV. Print is to real estate what TV is to FMCG, that's our large scale imagery-building medium. While that has its advantages, it also has its limitations when it comes to manifesting your brand. And what's been a big blessing of the last one year is that we have realized the power of digital and therefore the ability to use the audio visual mode of communication on digital,” said Oza. Giving us a sense of what its marketing pie looks like, Oza said, "If we were spending Rs 100 on print earlier, we now might be spending between Rs 20-40, depending on the project and segment. So we've started coming back, but not too much. Similar with outdoor. Digital which was between Rs 20-40, has now gone up significantly." So will real estate ever invest as much on traditional mediums as they used to pre-pandemic? “To be honest, the jury's out on that. We've started using outdoors selectively and have some print, but that has been a very small part of our overall spends. We are still largely focused on digital and I think in the future too, our focus will be skewed a little more towards digital. This will also force the traditional mediums to re-evaluate the role they play in our lives and innovate. And that's good for everyone because it helps sharpen and clarify the thinking and also helps increase efficiencies,” concluded Oza.

How Mahindra Lifespaces is innovating on its products and communication to make way for new consumer expectations

New Delhi, May 15 () Realty firm Mahindra Lifespace Developers on Friday said it has appointed Arvind Subramanian as Managing Director and Chief Executive Officer of the company with effect from July 1. The board approved the decision in its meeting on Thursday. He will succeed Sangeeta Prasad who resigned on February 7 this year. She had worked with the Mahindra group for over 11 years. Arvind joined the company as Chief Executive Officer of Mahindra Happinest, the affordable housing business, in September 2018. Arun Nanda, Chairman, Mahindra Lifespaces Developers said, the company is poised for strong growth in a rapidly consolidating market. At Happinest, Subramanian has demonstrated his ability to imagine and engineer a new future for the sector, for the company and for our customers. Subramanian has over 23 years of experience, starting his professional career with the Tata Administrative Service, the central management cadre of the Tata Group. He spent close to 15 years with the Boston Consulting Group (BCG) where he was a Partner and Managing Director. Prior to joining the Mahindra Group, Subramanian was Regional CEO at a leading real estate developer. He holds an MBA degree from the Indian Institute of Management, Ahmedabad, and a BTech degree from Indian Institute of Technology, Madras. Established in 1994, Mahindra Lifespace Developers is the real estate and infrastructure development business of the USD 20.7 billion Mahindra Group. MJH ANSANS

Mahindra Lifespace appoints Arvind Subramanian as MD, CEO

<ul><li>As homes across India have emerged as a haven during this time, <keyword id="174745" type="COMPANY" weightage="20" keywordseo="Mahindra-Lifespaces">Mahindra Lifespaces</keyword> celebrates the joy of daily routines and cherished interactions with loved ones. </li><li>The film was shot over three days under remote supervision, and edited and mixed remotely.</li></ul> Mahindra Lifespaces, the real estate and infrastructure development arm of the Mahindra Group, has launched a new ad film that captures the simple joys of life as experienced by individuals and families during the lockdown in India. The film, which was released at the time that India was readying itself for Unlock 1.0, was conceived by <keyword id="3017247" type="PERSON" weightage="20" keywordseo="Network-Advertising">Network Advertising</keyword>, and entirely self-shot by real families in locked-down homes across Mumbai, Bengaluru and Bhopal. <div type="Youtube" id="Un_v-ol2414" title="Iss Ghar Ki Bohot Yaad Aayegi - #JoyfulHomecomings" thumbUrl="https://i.ytimg.com/vi/Un_v-ol2414/mqdefault.jpg"></div> The world’s largest lockdown came into effect towards the end of March 2020 and has resulted in Indian families spending more time at home than ever before. Homes across India have emerged as a haven during this time, with families rediscovering the joy of daily routines and cherished interactions with loved ones. Mahindra Lifespaces’ new ad film reflects the simple, joyful moments that will be missed once life goes back to normal post lockdown. The film was shot over three days under remote supervision, and edited and mixed remotely. Arvind Subramanian, CEO - Mahindra Happinest; MD &amp; CEO Designate – Mahindra Lifespace Developers Ltd., said, “In the last couple of months, each one of us has realized anew the significance of quality time spent at home with those we care for. At Mahindra Lifespaces, we recognize that these moments of togetherness will remain indelibly etched in our memories as we move on to a post-lockdown life. For us, these moments comprise the very essence of Joyful Homecomings.” Shayondeep Pal - Chief Creative Officer, Network Advertising, said, "The idea of the film is rooted in a basic insight. As human beings, the desire is to always long for something we don't have. To put it simply, the longing we will have for our homes as we inch towards normalcy and go out for work reflects this insight. We will miss what we all experienced at home during the lockdown. It sits beautifully well with the Mahindra Lifespaces brand promise of Joyful homecomings.” Surjo Deb, Film Director, UBIK Films, added, “We felt a treatment that brought to the fore the lyrical and personal aspect of the script would do justice to the writing. Filming required a careful balance of detailed planning and last-minute adaptability. Thanks to Satchith Paulose, who came onboard as Director of Photography to ensure that even under these constraints, the visual and technical aspects of the film remained strong.”

Mahindra Lifespaces' ad film celebrates treasured memories created at home during the lockdown

New Delhi, Feb 7 () Realty firm Mahindra Lifespaces on Friday announced the resignation of its MD and CEO Sangeeta Prasad. She became the company's managing director (MD) and chief executive officer (CEO) in October 2018, following the resignation of Anita Arjundas as MD. Sangeeta joined the Mahindra group in 2008 as chief operating officer of Mahindra World City Developers Ltd and was promoted in 2013 as CEO of the Integrated cities and Industrial clusters business. In a regulatory filing, the company informed that the board has "noted the resignation submitted by Sangeeta Prasad from the position of the managing director and chief executive officer and also as a director of the company which shall take effect from the close of business hours as on June 30, 2020". Prasad has resigned to pursue other interests, it added. The Nomination &amp; Remuneration Committee of the board will immediately initiate the process of finding a successor, the filing said. Anand Mahindra, chairman of Mahindra Group, said: "Her leadership has propelled the cities business and has helped chart the strategic way forward for the residential segment. As a member of the Group Executive Board (GEB) and the co-chair of the Group Diversity Council, Sangeeta has helped drive group-wide initiatives. I wish her the best in her new endeavours." Arun Nanda, chairman, Mahindra Lifespace Developers, said: "...I am certain what she has instituted will take the company towards a successful future. I wish her all the best in the journey that she embarks upon." Prasad said her journey with Mahindra Group had been an extremely fulfilling journey and it enabled her to create a footprint beyond the real estate sector. Established in 1994, Mahindra Lifespace Developers Ltd. is the real estate and infrastructure development business of the USD 20.7 billion Mahindra group. The company's development footprint spans 25.3 million sq ft of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5000 acres of ongoing and forthcoming projects under development or management at its integrated developments or industrial clusters across four locations. MJH SHWSHW

Sangeeta Prasad resigns as MD, CEO of Mahindra Lifespaces

New Delhi, May 15 () Realty firm Mahindra Lifespace Developers Ltd reported a consolidated net loss of Rs 223.9 crore for the quarter ended March due to lower income and provisioning of loss in a joint venture project in Delhi-NCR. The company had posted a net profit of Rs 31.27 crore in the year-ago period, according to a regulatory filing. Mahindra Lifespace, the real estate arm of the Mahindra group, posted a total income of Rs 110.78 crore in the fourth quarter of 2019-20 as against Rs 246.88 crore in the corresponding period of previous year. For fiscal year 2019-20, the company posted a net loss of Rs 193.41 crore as against a net profit of Rs 119.71 crore in the previous year. Total income fell marginally to Rs 645.92 crore in FY20 from Rs 653.87 crore in 2018-19. The company said it has provided for impairment of its equity value in Mahindra Homes Pvt Ltd (MHPL), a joint venture (JV) firm. MHPL is executing residential projects in National Capital Region (NCR) and Bengaluru. "The residential project in NCR is a joint development with the landowner. The project saw a successful launch in 2015 in a buoyant market. "The market has thereafter seen muted demand and declining prices. During the year, the company also saw significant cancellations of earlier bookings," Mahindra Lifespace said in a statement. Consequently, MHPL has valued its balance inventory as per its accounting policies. Similarly, Mahindra Lifespace has in turn, based on estimated net present value of forecasted cash flows, provided for impairment of its equity value in the JV firm. "On a consolidated basis, the impact of impairment is Rs 135 crore, in addition to an impact of Rs 64 crore as share of loss from MHPL JV. This has been done as a matter of prudence considering uncertain market conditions," Mahindra Lifespace said. Sangeeta Prasad, Managing Director &amp; Chief Executive Officer, Mahindra Lifespace Developers said, "We are happy with the robust sales in our affordable housing project in Kalyan and the industrial customer acquisition in Chennai and Jaipur in Q4F20." "We had planned a couple of launches in March-20 but did not go ahead because of the COVID-19 conditions. Being abundantly cautious, we have made a one-time provision in our financials for our project in NCR which was launched in 2015," she added. MJH RVK

Mahindra Lifespace posts net loss of Rs 224 cr in Q4

New Delhi, Jan 27 () Shares of realty firm Mahindra Lifespace Developers Ltd on Monday dropped 3.5 per cent after the company reported a 91 per cent decline in net profit for the quarter ended December.
 The scrip dipped 3.04 per cent to close at Rs 399.90 on the BSE. During the trade, it tanked 4.95 per cent to Rs 392.
 On the NSE, it fell 3.51 per cent to close at Rs 398.25.
 Mahindra Lifespace Developers Ltd reported a 91 per cent decline in its net profit to Rs 1.81 crore for the quarter ended December.
 Its net profit stood at Rs 20.58 crore in the year ago period, the company said in a regulatory filing on Monday.
 Total income also fell to Rs 85 crore during the third quarter of 2019-20 from Rs 137.37 crore in the corresponding period of the previous year.
 Mahindra Lifespace Developers is the real estate and infrastructure development business of the Mahindra Group. SUM SHW
SHW

Mahindra Lifespace shares drop 3.5 pc after Q3 earnings

New Delhi, Jan 27 () Realty firm Mahindra Lifespace Developers Ltd reported a 91 per cent decline in net profit to Rs 1.81 crore for the quarter ended December.
Its net profit stood at Rs 20.58 crore in the year ago period, the company said in a regulatory filing.
Total income also fell to Rs 85 crore during the third quarter of 2019-20 from Rs 
137.37 crore in the corresponding period of the previous year. 
Mahindra Lifespace MD and CEO Sangeeta Prasad said, "we are delighted with the successful launch of Happinest Kalyan, which strengthens the hypothesis that a right product with right location is always attractive."
The company plans to launch new projects in Mumbai and Pune this quarter, she added.
"The subdued investment sentiments in the economy has adversely impacted industrial land lease volumes," Prasad said.
On operational front, Mahindra Lifespace achieved sales of Rs 196 crore (0.26 million sq ft) in residential business (excluding cancellation at Luminare).
The company's development footprint spans 25.3 million sq ft of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5,000
acres of ongoing and forthcoming projects under development/management at its integrated developments/industrial clusters across four locations. 
 Mahindra Lifespace Developers is the real estate and infrastructure development
business of the Mahindra Group. MJH RUJ
RUJ

Mahindra Lifespace Q3 profit down 91% at Rs 1.8 cr

<ul><li>Opt for sustainable projects which offer discounts on the <keyword id="6397939" type="General" weightage="20" keywordseo="interest" source="Orion">interest</keyword> rate. </li><li>A woman co-borrower as the primary applicant can lead to savings on interest rate as well. </li><li>A <keyword id="6354730" type="General" weightage="20" keywordseo="home-loan" source="Orion">home loan</keyword> overdraft scheme can also lead to savings on interest payments. </li></ul>Buying a home is one of the biggest financial goals one has and since a home loan is a commitment for several years, a lower interest rate could lead to substantial savings. In other words, a difference of a few basis points can lead to savings of a few thousand every month. We look at some ways to reduce your home loan interest. <cmsannotation type="cmsannotation" annotationid="Sustainable project option" comment="Subhead" text="Sustainable project option">Sustainable project option</cmsannotation> Recently, Axis Bank tied up with real estate developer Mahindra Lifespaces to offer a 0.25% discount on the interest on green homes. In June this year, SBI announced that it has plans to incentivise green home buyers by offering them a 10-25 basis points discount on prevailing home loan rates. “Extending loans at concessional rates for green homes incentivizes home loan takers to buy and invest in sustainable residential buildings. It will have a long term and a positive domino effect to build, buy and sell environment-friendly buildings,” says Vimal Nadar, senior director, research head, Colliers India. Green housing in India faces affordability and awareness challenges, especially in affordable and mid-range segments. Collaborations between housing finance and real estate firms can boost green home popularity among Indian buyers. “Such a tie-up resulting in discounted interest rates for green homes could potentially kick-start a broader trend - especially if the interest rates are reduced enough to offset the 10-15% premium that green homes typically command to a significant extent,” says Santhosh Kumar, vice chairman, ANAROCK Group. This can attract more middle class customers to eco-friendly projects. <cmsannotation type="cmsannotation" annotationid="Women borrowers are offered lower interest rates" comment="Subhead" text="Women borrowers are offered lower interest rates">Women borrowers are offered lower interest rates</cmsannotation> Most banks offer a concessional rate to women borrowers. The usual discount provided is 5bps or 0.05%. If a woman with a good credit score is the primary borrower, it can mean a discount in the interest rate. <cmsannotation type="cmsannotation" annotationid="Subhead" text="Consider a home loan overdraft scheme">Consider a home loan overdraft scheme</cmsannotation> The home loan overdraft scheme works pretty much current accounts with an overdraft limit. “Under the scheme, you can deposit any surplus that you have into your home loan account. This surplus will be considered as prepayment against the <keyword id="25058" type="General" weightage="20" keywordseo="principal" source="Orion">principal</keyword>,” says Adhil Shetty, CEO, BankBazaar, a financial marketplace. The principal amount on which the loan interest is calculated is the outstanding principal minus the savings deposited in the home loan account over and above the monthly instalment or EMI. If you have been making regular deposits to the account, your outstanding principal would proportionally reduce. This brings down the overall loan liability. A benefit of the home loan overdraft scheme is the savings on interest. “If you keep making regular repayments, your principal, and therefore the interest you pay on it, keep reducing. This translates into substantial cost savings,” says Shetty. However, it is important to remember that the home loan overdraft scheme is typically suitable for double income families with regular surplus income or businesspersons who receive surplus funds regularly. Also Shetty says that home loan overdrafts usually tend to be more expensive by approximately 25 basis points. Therefore, if you do not have a chance to generate a regular surplus amount, the home loan overdrafts may not be the right choice. <cmsannotation type="cmsannotation" annotationid="Refinance your home loan" comment="Subhead" text="Refinance your home loan"><keyword id="59525" type="General" weightage="20" keywordseo="refinance" source="Orion">Refinance</keyword> your home loan</cmsannotation> In March 2020, the difference between the lowest home loan rates and the prevalent repo rate was 2.75, going up to 3.50 in many cases. This difference has fallen steadily. By March 2021, it had reduced to 2.65. A year later, it fell to 2.40. “If you have an ongoing loan, you may want to consider refinancing your loan. This is because the spread on the loan has fallen,” says Shetty. Currently, there are many lenders pricing themselves at 2.00 over the repo, with a few going as low as 1.95 with their special offers. So refinancing your loan may help you bring down the interest rate. So, while taking a new home loan or if you already have an existing home loan, there are ways you can look to save on interest.

Four ways to reduce interest rate on your home loan

<ul><li>The average debt cost for listed realty players has fallen to the lowest levels since the Covid-19 pandemic. </li><li>While the average cost of debt for <keyword id="6354553" type="General" weightage="20" keywordseo="Real-estate" source="Orion">real estate</keyword> companies fell by 150 basis points as of Q2 FY23, <keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword> had hiked the repo rate by 190 basis points until end-September. </li><li>The eight listed companies in the list also saw their net debt fall to ₹20,800 crore as of end Q2 FY23, from ₹24,500 crore as of end Q4 FY20. </li></ul>The average cost of debt for the top eight listed realty companies has hit its lowest since the Covid-19 pandemic – dropping to 8.14% in Q2 FY23 from 9.64% in Q4 FY20, according to a report by <keyword id="4695749" type="General" weightage="100" keywordseo="anarock" source="Orion">Anarock</keyword> Group. The 150-basis-point decline in the cost of debt of these eight listed realty companies is despite the 190-basis-point hike in repo rates<a href="https://www.businessinsider.in/finance/news/rbi-hikes-repo-rate-by-50-bps-taking-it-to-a-three-year-high-of-5-9-das-says-inflation-at-alarmingly-high-levels/articleshow/94550429.cms"> announced</a> by the <keyword id="6354335" type="General" weightage="50" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> (RBI) until September 2022. Overall, the gap between the average cost of debt and RBI’s repo rate has also come down drastically – from nearly 550 basis points in Q4 FY20, to 224 basis points at the end of Q2 FY23, reflecting the improved credit profile of realty companies even though interest rates have spiked. Robust topline performance was a key driver for pushing down the average cost of debt for these eight listed companies, namely – <keyword id="139366" type="General" weightage="50" keywordseo="sobha" source="Orion">Sobha</keyword>, Puravankara, Prestige Estates, Brigade Enterprises, Mahindra Lifespace Developers, Godrej Properties, DLF, and <keyword id="6473062" type="General" weightage="50" keywordseo="lodha-developers" source="Orion">Lodha Developers</keyword> (Macrotech). Their strong revenue growth during these ten quarters, and the low interest rates – between Q4 FY20 to Q2 FY23 – allowed these firms to obtain new debt and refinance existing debt at lower rates, the report added. “These [measures] included a reduction in repo rate, loan restructuring, stamp duty cuts, and a relief package to boost the economy. Housing sales gathered momentum on the back of record low home loan rates and stamp duty reductions in some states,” said <keyword id="6420759" type="General" weightage="50" keywordseo="anuj-puri" source="Orion">Anuj Puri</keyword>, chairman, Anarock Group. The net debt of the aforementioned eight listed companies has come down to ₹20,800 crore at the end of Q2 FY23, from ₹24,500 crore at the end of Q4 FY20, and ₹42,900 crore at the end of Q3 FY21. The increase in revenue of these listed realty companies is a reflection of their rising market share in real estate sales – which went from 16% in FY20 to 23% as of FY21. Overall, these companies sold properties totalling 37 million square feet in FY20, which went up to 41 million square feet in FY21, and 57 million square feet in FY22. <cmsannotation type="cmsannotation" annotationid="Rate hikes could create upward pressure on cost of debt" comment="subhead" text="Rate hikes could create upward pressure on cost of debt">Rate hikes could create upward pressure on cost of debt</cmsannotation> As the RBI fights to control inflation through interest rate hikes, it could create an upward pressure on the cost of debt. So far in 2022, RBI has raised the repo rate by 225 basis points in total through five rate hikes. More rate increases from here on, in addition to an increase in capital requirements, could create an upward pressure on the cost of debt, the Anarock report says. SEE ALSO: <a href="https://www.businessinsider.in/business/news/private-equity-investments-in-indias-real-estate-sector-witnessed-a-17-decline-in-2022/articleshow/96338847.cms">PE investments in real estate decline 17% in 2022 due to inflation, rising interest rates – Knight Frank India</a> <a href="https://www.businessinsider.in/stock-market/news/top-gainers-and-losers-stocks-of-2022-in-india/articleshow/96332417.cms">Best and worst performing stocks of 2022</a> <a href="https://www.businessinsider.in/india/news/ice-cubes-to-gulab-jamuns-and-50-lakh-kilos-of-organic-fruits-and-veggies-how-india-swiggyd-in-2022/articleshow/96275305.cms">Ice cubes to gulab jamuns and 50 lakh kilos of organic fruits and veggies – how India Swiggy’d in 2022</a>

Average debt cost for top eight listed realty players lowest since pandemic, says Anarock

<ul><li>Ami Organics is likely to announce its share allotment status on September 8.</li><li>Speciality chemical company Ami Organics received a strong response from investors during all three days of the IPO bidding process.</li><li>The IPO of the company received bids for 42.22 crore as against the IPO size of 65.36 lakh shares.</li></ul>Ami Organics is likely to announce the allotment status of its initial public offering (IPO) on September 8. The IPO was open for subscription from September 1 to September 3 with a price band of ₹603-610. The company is looking to raise ₹200 crore through fresh issue of shares and 60.59 lakh shares through offer for sale by promoters. Ami Organics’ IPO has received an amazing response from investors, especially non institutional investors. The portion reserved for qualified institutional investors was subscribed 86.02 times, non institutional investors subscribed 155.44 times and that for retail investors was subscribed 13.42 times. Ami Organics is a research and development driven manufacturer of speciality chemicals. The company manufactures different types of advanced pharmaceutical intermediates and active pharmaceutical ingredients (API) for new chemical entities, and material for agrochemicals and fine chemicals. With the IPO proceeds, the Gujarat-based speciality chemicals company will pay off its debt worth ₹140 crore and become debt free, Naresh Patel, chief managing director of Ami Organics, said in an interview with Business Insider. Here is how to <keyword id="12039981" type="General" weightage="20" keywordseo="ami-organics-ipo-allotment" source="Orion">Ami Organics IPO allotment</keyword> status on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select ‘Ami Organics ’.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on 'Ami Organics‘.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/india/news/covid-19-delhi-reports-no-new-death-in-last-six-days/articleshow/85978889.cms">COVID-19: Delhi reports no new death in last six days</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/real-estate-company-stocks-become-multibaggers-while-analysts-see-further-strong-upside/articleshow/85976693.cms">Sobha, Mahindra Lifespace become multibaggers in 2021 as analysts see strong upside in realty space</a>

Details on how to check Ami Organics IPO allotment status, listing date and more

<ul><li>The company is likely to announce its share allotment status on September 8.</li><li>The IPO of the diagnostics lab chain Vijaya Diagnostic was subscribed 4.54 times on the last day of bidding.</li><li>Investors have bid for 11.36 crore shares against the 2.50 crore shares on offer.</li></ul>Diagnostics lab chain Vijaya Diagnostic is likely to announce the allotment of its initial public offering (IPO) status on September 8. The IPO was open for subscription between September 1 and September 3. Vijaya Diagnostic is looking to raise ₹1,895 crore through an entire offer for sale (OFS) from existing promoters with 3.56 crore equity shares. The IPO has received good response from investors, especially from qualified institutional buyers and non-institutional investors. The portion for qualified institutional investors was subscribed 13.07 times while the non-institutional investor category received a bid for 1.32 times. Overall, the investors have bid for 11.36 crore shares against the 2.50 crore shares on offer. The company has a strong presence in southern India in the states of Andhra Pradesh and Telangana and now looks to expand in some eastern states primarily through acquisition. “We are a debt-free company and due to our strong margin we also have liquidity on the balance sheet. We have built up a ₹250 crore cash on the book so priority is to use that corpus for the growth of the business. So we are definitely open for acquisition opportunities in any markets of interest,” said Sunil Chandra Kondapally, executive director at Vijaya Diagnostic in an interview with Business Insider. Here is how to check <keyword id="12039977" type="General" weightage="20" keywordseo="vijaya-diagnostic-ipo-allotment" source="Orion">Vijaya Diagnostic IPO allotment</keyword> status on stock exchange website: <ul><li>Go to the <a href="https://www.bseindia.com/investors/appli_check.aspx">BSE website</a> or NSE website<a href="https://www1.nseindia.com/products/dynaContent/equities/ipos/ipo_login.jsp"> here</a>.</li><li>On BSE, Select 'Equity' and then from the dropdown, select 'Vijaya Diagnostic.</li><li>Now, enter your application number and PAN.</li><li>Click on 'Search'.</li><li>Please note the details will only be available once the shares are allotted.</li></ul>You can also visit the registrar website (Link Intime India) to check your application status. <ul><li>Visit the registrar's website <a href="https://linkintime.co.in/MIPO/Ipoallotment.html">here</a>.</li><li>Click on 'Select company' and click on 'Vijaya Diagnostic’.</li><li>Once the company is selected, you will have to enter either your PAN detail, the application number, or the client ID.</li><li>Enter the captcha and click ’submit’.</li></ul>Once you hit 'submit', the status of your application will appear on the screen. Please ensure the details that you provide are correct. It will show the number of shares you subscribed to and the number of shares allotted to you. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/finance/banks/news/axis-bank-announces-new-policies-and-practices-for-its-customers/articleshow/85978495.cms">Axis Bank announces new policies and practices for its customers and employees belonging to the LGBTQ community</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/real-estate-company-stocks-become-multibaggers-while-analysts-see-further-strong-upside/articleshow/85976693.cms">Sobha, Mahindra Lifespace become multibaggers in 2021 as analysts see strong upside in realty space</a>

You Searched For "Mahindra Lifespace" and got 13 results

Mahindra Lifespace posts nearly Rs 19 crore loss in September quarter

PTI

Sobha, Mahindra Lifespace become multibaggers in 2021 as analysts see strong upside in realty space

Bhakti Makwana

How Mahindra Lifespaces is innovating on its products and communication to make way for new consumer expectations

Samarpita Banerjee

Mahindra Lifespace appoints Arvind Subramanian as MD, CEO

PTI

Mahindra Lifespaces' ad film celebrates treasured memories created at home during the lockdown

BI India Partner

Sangeeta Prasad resigns as MD, CEO of Mahindra Lifespaces

PTI

Mahindra Lifespace posts net loss of Rs 224 cr in Q4

PTI

Mahindra Lifespace shares drop 3.5 pc after Q3 earnings

PTI

Mahindra Lifespace Q3 profit down 91% at Rs 1.8 cr

PTI

Four ways to reduce interest rate on your home loan

Anagh Pal

Average debt cost for top eight listed realty players lowest since pandemic, says Anarock

Rounak Jain

Details on how to check Ami Organics IPO allotment status, listing date and more

Bhakti Makwana

Here’s how to check Vijaya Diagnostic IPO allotment status, listing date and more

Bhakti Makwana

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