Mahindra Lifespace Developers (532313) Q2 25/26 earnings summary

Executive summary

• Strategy remains focused on business development, customer experience, execution, and financial discipline, with no major changes in direction over the past two years.

• Achieved H1 FY26 residential pre-sales of ₹1,200 Cr, with Q2 at ₹752 Cr, driven by successful launches and strong sustenance sales.

• H1 FY26 PAT reached ₹99 Cr, a significant turnaround from a loss of ₹1 Cr in H1 FY25.

• Unaudited standalone and consolidated financial results for Q2 and H1 FY2026 were approved by the Board on October 31, 2025, and subjected to limited review by statutory auditors.

• The company completed a significant rights issue, raising Rs 1,49,480 lakhs, with funds allocated to debt repayment, land acquisition, and working capital.

Financial highlights

• H1 consolidated residential and IC sales reached INR 1,419 crores, with Q2 sales at INR 752 crores, representing 89% year-over-year growth.

• H1 FY26 residential collections grew 9% YoY to ₹1,086 Cr.

• H1 FY26 IC & IC revenues at ₹219 Cr, up from ₹214 Cr YoY.

• H1 FY26 GDV additions of ₹5,200 Cr, YTD GDV additions at ₹9,500 Cr, and total GDV as of Sep'25 at ~₹46,000 Cr.

• Consolidated net profit after tax for Q2 FY2026 was Rs 4,791 lakhs; H1 FY2026 was Rs 9,917 lakhs, driven by strong share of profit from joint ventures and associates.

Outlook and guidance

• Major launches in H2 are expected to contribute significantly to pre-sales and financial targets.

• Pre-sales guidance for FY27 is set at INR 4,500–5,000 crores, with sufficient inventory and pipeline to meet targets.

• Multi-year growth visibility with a GDV pipeline of ~₹46,250 Cr.

• Revenue is recognized using the Completed Contracts Method under Ind AS 115, making quarterly and half-year results not fully representative of ongoing operations.