Mahindra Life turns around

Mahindra Lifespaces is a bright star – it opened over 5% higher today at Rs.389, rising over 6% to hit an intraday high at Rs.392.60. Its 52-week high is at Rs.410.55.

The stock price jumped up on account of its turnaround story. As against a consolidated net loss of Rs.72 crore in FY21, the company ended the FY22 fiscal with a net profit of Rs.154 crore. This was on a total income of Rs.408 crore, up 117%.

For Q4FY22, its consolidated total income rose from Rs.58 crore to Rs.155 crore (YoY) and net profit came in ay Rs.138 crore v/s net loss of Rs.28 crore.

The company said, “FY22 has been a year of strong growth. Our residential pre-sales grew by almost 50% to Rs 1,028 crore, while our industrial leasing has grown by 130% to Rs 298 crore"

The market has clearly given it a thumbs up.