Mahindra Lifespace aims for Rs 8-10K cr sales in housing, industrial spaces

Realty firm Mahindra Lifespace Developers Ltd is targeting a sharp increase in its annual sales of housing properties and industrial space to Rs 8,000-10,000 crore by 2027-28 fiscal on rising demand.

Mumbai-based Mahindra Lifespace sold residential properties and industrial space worth Rs 2,698 crore in the last fiscal as against Rs 2,268 crore in the 2022-23 financial year.

According to the latest presentation in an investor meet, Mahindra Lifespace has mentioned about the target to achieve Rs 8,000-10,000 crore worth of sales in the 2027-28 fiscal in its two verticals -- residential and industrial park.

Mahindra Lifespace has been actively buying land and also partnering with landlords for the development of residential properties. It has also entered into the redevelopment of housing societies in Mumbai.

During the last fiscal, Mahindra Lifespace reported a marginal decline in consolidated net profit to Rs 97.89 crore on lower income.

Its net profit stood at Rs 101.43 crore in