MAHLIFE
Mahindra Lifespace Developers share price & financials
- Price
- ₹373.5
- Market cap
- ₹8.2k Cr
- Sector
- Realty
- Calls analysed
- 7
Mahindra Lifespace Developers Limited Q1 FY27
What went well
- Residential pre-sales reached ₹925 crores in Q1 FY27, demonstrating strong market traction.
- Reported PAT for Q1 FY27 was ₹86 crores, marking a significant 67% year-on-year growth from ₹51 crores in Q1 FY26.
- The company added a substantial ₹5,600 crores GDV from the Kandivali land parcel, contributing to a robust total GDV pipeline of ₹50,000 crores.
What to watch
- Q1 FY27 sales were described as 'lumpy' due to the impact of the Iran war, particularly in March and April, leading to a slower start to the quarter.
- Inventory months rose from 13 to 15 months, attributed to war sentiments and a general market slowdown, though management expects branded players to gain share.
What Mahindra Lifespace Developers Limited does
Mahindra Lifespace Developers, part of the Mahindra Group, develops residential projects and Integrated Cities & Industrial Clusters (IC&IC) across India. Its Residential arm builds premium and mid-premium homes, largely in the Mumbai Metropolitan Region, Pune and Bengaluru, sold outright to homebuyers. Its IC&IC arm develops and leases industrial/commercial land and built-up space under the Mahindra World City and Origins by Mahindra brands, earning revenue from land leasing, plug-and-play infrastructure and value-added industrial services to domestic and global manufacturers.
Segments
- Residential
- Integrated Cities & Industrial Clusters (IC&IC)
- Total development footprint (residential)
- 53.65 msft
- Residential projects delivered since 1996
- 50+
- Industrial developer since
- 1994
- IC&IC gross land area across locations
- 5,898 acres
- Integrated Cities (Mahindra World City)
- 2 (Chennai, Jaipur)
- Industrial clusters (Origins by Mahindra)
- 3 (Chennai, Ahmedabad, Pune)
Guidance record · Q1 FY27
what the last two calls moved 18 tracked 3 delivered 0 missed 15 open- Net Debt to Equity Ratio delivered said Q3 FY25 Promised: Keep debt-to-equity ratio below 0.5 long-term, not cross 0.6 short-term Q1 FY27: Net Debt/Equity at -0.2, remaining in a net cash position.
- Sai Baba Project Launch delayed said Q2 FY26 Promised: May get launched in the next financial year, H2 (H2 FY26) Q1 FY27: Launch now slated for H2 FY27, representing a further delay.
- Project IRR on track said Q3 FY25 Promised: Target 20%+ IRRs Q1 FY27: Completed 2 projects (Eden Phase-2, Luminaire) with PBT margins of ~26%, supporting the push for higher-margin projects.
All 18 tracked — every revision, and every one management stopped mentioning.
Open the guidance ledgerQuarterly results
Q1 FY27: revenue up 2906.3%, net profit up 68.6% against the same quarter last year.
| Line item | Q2 FY25 | Q3 FY25 | Q4 FY25 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | Q1 FY27 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 8 | 167 | 9 | 32 | 18 +125% | 459 +175% | 670 +7344% | 962 +2906% |
| EBITDA | -48 | -25 | -55 | -55 | -52 −8% | 30 +220% | -44 +20% | 94 +271% |
| Net profit | -14 | -22 | 85 | 51 | 48 +443% | 109 +595% | 90 +6% | 86 +69% |
How to read this
₹ crore, as filed. The percentage beside a figure is the change against the same quarter a year earlier — never the quarter before, which would make every seasonal business look like it collapses and booms each year.
Performance −5.2% 1Y
1Y: ₹372.3 on 10 Sept 2025 → ₹353.05. High ₹421.7 (1 Dec 2025), low ₹294.25 (30 Mar 2026).
How the price took the results
close before → close after
- Q1 FY27
- −0.8%
- 24 Jul
- Q4 FY26
- +3.9%
- 28 Apr
- Q3 FY26
- +3.9%
- 2 Feb
- Q2 FY26
- +5.1%
- 3 Nov
The move from the last close before each results date to the first close after it — the market's first read on the quarter, not the quarter itself.
Financials, as filed
Revenue grew 24.8% a year over 3 years, FY23 to FY26. Operating margin widened to -10.3%.
| Year ending | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|
| Revenue | ₹607 Cr | ₹212 Cr | ₹372 Cr | ₹1.2k Cr |
| Operating profit | ₹-109 Cr | ₹-171 Cr | ₹-170 Cr | ₹-121 Cr |
| Operating margin | -18.0% | -80.7% | -45.7% | -10.3% |
| Interest | ₹10 Cr | ₹7 Cr | ₹19 Cr | ₹11 Cr |
| Depreciation | ₹11 Cr | ₹14 Cr | ₹18 Cr | ₹25 Cr |
| Net profit | ₹103 Cr | ₹98 Cr | ₹62 Cr | ₹298 Cr |
| Net margin | 17.0% | 46.2% | 16.7% | 25.3% |
| ROCE | 2.0% | 2.0% | 2.0% | 8.0% |
How to read this
From the company's own filings. Margins are computed from the filed sums; a year with an incomplete quarter is left blank rather than estimated.
Balance sheet
| Year ending | FY21 | FY22 | FY23 | FY24 | FY25 | FY26 |
|---|---|---|---|---|---|---|
| Equity capital | ₹51 Cr | ₹155 Cr | ₹155 Cr | ₹155 Cr | ₹213 Cr | ₹213 Cr |
| Reserves | ₹1.6k Cr | ₹1.6k Cr | ₹1.7k Cr | ₹1.7k Cr | ₹3.2k Cr | ₹3.4k Cr |
| Borrowings | ₹245 Cr | ₹286 Cr | ₹268 Cr | ₹877 Cr | ₹325 Cr | ₹662 Cr |
| Other liabilities | ₹697 Cr | ₹963 Cr | ₹1.5k Cr | ₹2.2k Cr | ₹3.6k Cr | ₹4.0k Cr |
| Total liabilities | ₹2.6k Cr | ₹3.0k Cr | ₹3.6k Cr | ₹4.9k Cr | ₹7.4k Cr | ₹8.3k Cr |
| Fixed assets | ₹91 Cr | ₹103 Cr | ₹37 Cr | ₹24 Cr | ₹36 Cr | ₹27 Cr |
| Capital work in progress | ₹15 Cr | ₹3 Cr | ₹5 Cr | ₹5 Cr | ₹6 Cr | ₹10 Cr |
| Investments | ₹558 Cr | ₹622 Cr | ₹905 Cr | ₹914 Cr | ₹1.0k Cr | ₹1.3k Cr |
| Other assets | ₹1.9k Cr | ₹2.3k Cr | ₹2.7k Cr | ₹4.0k Cr | ₹6.3k Cr | ₹7.0k Cr |
| Total assets | ₹2.6k Cr | ₹3.0k Cr | ₹3.6k Cr | ₹4.9k Cr | ₹7.4k Cr | ₹8.3k Cr |
How to read this
As filed each year. A line the company does not report — deposits for a non-lender, for instance — is left out rather than shown as a row of dashes.
Who owns it
As disclosed at Jun 2026
Since Jun 2025, FIIs trimmed −1.32 pp while DIIs added +0.95 pp. The shareholder count grew 8% to 1,27,821.
- Promoters
- 52.4%
- FIIs
- 7.4%
- DIIs
- 22.8%
- Public
- 17.4%
Since Jun 2025
- FIIs −1.32 pp
- DIIs +0.95 pp
- Public +0.39 pp
How it drifted, 12 quarters
Over this window FIIs fell from 11.9% to 7.4% — −4.5 pp.
Ownership split by quarter, oldest first. Sep '23: Promoters 51.2%, FIIs 11.9%, DIIs 20.2%, Public 16.8%.Dec '23: Promoters 51.2%, FIIs 8.5%, DIIs 23.2%, Public 17.1%.Mar '24: Promoters 51.2%, FIIs 9.1%, DIIs 22.2%, Public 17.5%.Jun '24: Promoters 51.2%, FIIs 9.7%, DIIs 21.3%, Public 17.8%.Sep '24: Promoters 51.1%, FIIs 9.8%, DIIs 20.9%, Public 18.1%.Dec '24: Promoters 51.1%, FIIs 10.0%, DIIs 20.7%, Public 18.1%.Mar '25: Promoters 51.1%, FIIs 9.6%, DIIs 20.1%, Public 19.2%.Jun '25: Promoters 52.4%, FIIs 8.7%, DIIs 21.8%, Public 17.1%.Sep '25: Promoters 52.4%, FIIs 8.1%, DIIs 22.4%, Public 17.0%.Dec '25: Promoters 52.4%, FIIs 7.8%, DIIs 22.8%, Public 16.9%.Mar '26: Promoters 52.4%, FIIs 7.6%, DIIs 22.9%, Public 17.1%.Jun '26: Promoters 52.4%, FIIs 7.4%, DIIs 22.8%, Public 17.4%.
Who bought this quarter
since Mar 2026
Disclosed holders that added to a position or appeared on the register for the first time, biggest addition first.
- Kotak Pioneer Fund And Its Sub Accounts Mutual fund newly disclosed 5.43% held
- ICICI Prudential Equity & Debt Fund And Its Sub Accounts Mutual fund newly disclosed 3.79% held
- Bandhan ELSS Tax Saver Fund And Its Sub Accounts Mutual fund newly disclosed 2.88% held
- Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund And Its Sub Accounts Mutual fund newly disclosed 1.51% held
- SBI ELSS Tax Saver Fund And Its Sub Accounts Mutual fund +0.36 pp 6.30% held
- MH Boutique Hospitality Limited newly disclosed 0.00% held
- Mahindra MSTC Recycling Private Limited newly disclosed 0.00% held
- Aditatva Estates Private Limited newly disclosed 0.00% held
The same filing shows 0 holders trimming and 4 off the list — both are in the register beside this.
Who is on the register
Named in the Jun 2026 filing
Every holder of Mahindra Lifespace Developers Limited above SEBI's 1% disclosure line, and what changed since Mar 2026.
| Holder | Stake | Change |
|---|---|---|
| Mahindra & Mahindra Limited | 52.41% | unchanged |
| SBI ELSS Tax Saver Fund And Its Sub Accounts Mutual fund | 6.30% | +0.36 pp |
| Kotak Pioneer Fund And Its Sub Accounts Mutual fund | 5.43% | newly disclosed |
| ICICI Prudential Equity & Debt Fund And Its Sub Accounts Mutual fund | 3.79% | newly disclosed |
| Bandhan ELSS Tax Saver Fund And Its Sub Accounts Mutual fund | 2.88% | newly disclosed |
| Kotak Funds - India Midcap Fund Global fund house | 1.59% | unchanged |
| Axis Mutual Fund Trustee Limited A/C Axis Mutual Fund And Its Sub Accounts Mutual fund | 1.51% | newly disclosed |
| HDFC Life Insurance Company Limited Insurer | 1.33% | unchanged |
| Martial Solren Private Limited | 0.00% | unchanged |
| Sampo Rosenlew Oy, Finland | 0.00% | unchanged |
| The Birmingham Small Arms Company Limited | 0.00% | unchanged |
| BSA Corporation Limited | 0.00% | unchanged |
A holder disappearing from this list has fallen below the 1% line — it is not necessarily a sale. Percentages are of total shares, as disclosed in the company's own filing. Who was buying across the market this quarter.
Mutual funds in MAHLIFE
Filings to Aug 2026
0 new, 0 added, 0 trimmed, 0 sold out — net +0.00 L shares (+0.0%).
- Held by funds
- ₹511 Cr
- 3 schemes
- Biggest holder
- SBI ELSS Tax Saver Fund
- ₹328 Cr · 1.0% of that fund
| Scheme | Holding | Last month | Held since |
|---|---|---|---|
| SBI ELSS Tax Saver Fund SBI Mutual Fund | ₹328 Cr | held | Oct '23 |
| SBI Multi Asset Allocation Fund SBI Mutual Fund | ₹156 Cr | held | Apr '23 |
| SBI Infrastructure Fund SBI Mutual Fund | ₹26 Cr | held | May '25 |
HDFC, Nippon India and SBI schemes, from their monthly disclosures. Changes are counted in shares, so a price move never looks like buying or selling.
Mutual funds Aug 2026
0 added, 0 trimmed — net 0 shares (+0.0%)
- Funds are sitting on
- -16%
- vs est. average cost
- Held by funds
- ₹511 Cr
- 3 schemes · ≈ 6.3% of the company
- Biggest holder
- SBI ELSS Tax Saver Fund
- ₹328 Cr · 1.0% of that fund
- Longest holder
- SBI Multi Asset Allocation Fund
- 3y 5m · since Apr '23
Shares held by these funds +303%
Aug '23 1.40 cr shares Jul '26
All earnings calls (7)
Read the Q1 FY27 call →Learn to analyse Mahindra Lifespace Developers Limited
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