Mahindra Lifespace Developers narrows net loss at Rs 14 cr for Q1FY22
New Delhi: Mahindra Lifespace Developers Ltd has narrowed the consolidated net loss of Rs 14 crore for the first quarter of the current fiscal as compared to a net loss of Rs 20.5 crore in the same quarter of the previous fiscal.
The total income of the company jumped many fold at Rs 154 crore in the first quarter of the current fiscal as compared to Rs 22 crore in the same quarter of the previous fiscal, the company said in a regulatory filing.
"Residential sales as well as land leasing at our industrial parks continued to perform well despite varying levels of lockdowns through the quarter", said Arvind Subramanian, MD and CEO, Mahindra Lifespace Developers Ltd.
"We are gearing up for new launches in each of our key markets within this financial year. Labour strength is building back at our project sites and we expect to catch up on lost time over the coming quarters," he added.