Mahindra Lifespace Developers Ltd.

•

mahindralifespaces.comBSE: 532313NSE: MAHLIFE

Market Cap₹ 7,761 Cr.

Current Price

High / Low₹ 427 / 287

Stock P/E39.6

Book Value₹ 147

Price to Book2.06

Dividend Yield0.96 %

ROCE3.3 %

ROE3.1 %

Face Value₹ 10

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ABOUT

KEY POINTS

Revenue Breakup Mar 2024 • Projects, Project Management & Development: 76.2% • Operating of Commercial Complexes: 23.8%

AI Sector View

AI GENERATED

Realty

Buy

Housing and construction indicators remain supportive for real estate. The housing index reached 105 (Mar/26), residential property prices rose 4.21% (Mar/26), construction output was 5.4% (Jul/26), and cement output accelerated to 13.1% YoY (2026-07). Bank lending rates are steady at 8.96% (Aug/26) rather than easing, but FPI flows turned positive with INR 1999 crore net inflow over 3 months to 2026-08-31 from INR -7216 crore previously.

Confidence

75%

View full sector analysis →

PROS

Latest quarter profit grew 366.5% YoY, showing strong momentum
Company has delivered good sales growth of 57.2% CAGR over last 5 years
Working capital cycle has improved - days down from 1161 to 327
Company has a consistent dividend-paying track record
Company maintains a comfortable, low leverage position

CONS

Company is loss-making at the operating / net level
Operating cash flow has been negative in recent years
A large part of profit comes from other income (360.6% of PBT)
Poor cash conversion - profits are not backed by operating cash flow (CFO/PAT -12.53x)
Company has a low return on capital employed of 1.2%
Company has a low return on equity of 1.3% over last 3 years

* The pros and cons are machine generated based on quantitative rules.

Peer comparison

RealtyRealtyConstruction - Real Estate

Part ofNIFTY 50 NIFTY 500 NIFTY LARGEMIDCAP 250 NIFTY 100 NIFTY 200

S.No.	Name
1.	DLF	681.20	37.93	168618.23	1.17	793.90	-89.59	1280.34	-52.87	6.81	49.68
2.	LODHA	1214.40	29.41	121345.67	0.35	1373.10	103.39	4996.70	43.10	16.89	38.51
3.	PHOENIXLTD	1940.40	54.22	69403.81	0.13	394.51	22.95	1074.94	12.80	15.41	59.77
4.	PRESTIGE	1608.00	60.81	69261.42	0.12	271.40	-12.87	2675.10	15.94	11.51	31.75
5.	OBEROIRLTY	1875.00	25.93	68175.42	0.43	543.51	29.02	1300.89	31.73	17.69	56.75
6.	GODREJPROP	1990.00	37.46	59944.07	0.50	349.38	-41.61	506.17	16.48	8.37	-57.98
7.	BRIGADE	696.00	32.68	22707.65	0.22	216.94	37.35	1115.55	-12.93	11.02	32.33
8.	ANANTRAJ	624.80	38.86	22485.11	0.16	149.19	18.50	631.40	6.58	12.23	29.53
9.	ABREL	1372.05	115.87	15325.21	0.18	-34.59	-27.73	188.85	30.95	-4.54	-30.02
10.	SOBHA	1259.40	58.40	13469.77	0.48	50.85	273.37	1278.15	50.03	6.96	6.07
11.	SIGNATURE	796.95	10.74	11211.97	0.00	-16.53	-148.00	551.99	-36.24	34.77	-8.10
12.	MAHLIFE	363.75	23.35	7761.47	0.96	85.55	-83.31	962.13	2909.48	8.34	10.71

Detailed Comparison with:

Quarterly Results

Standalone Figures in Rs. Crores / View Consolidated

	Jun 2023	Sep 2023	Dec 2023	Mar 2024	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	7	7	2	3	182	2	162	4	26	12	272	550	331
	51	45	45	56	225	53	189	59	82	66	272	621	284
Operating Profit	-45	-37	-43	-54	-43	-51	-27	-55	-57	-54	0	-71	47
OPM %	-670.83%	-502.69%	-2066.02%	-2105.10%	-23.54%	-2483.98%	-16.83%	-1495.12%	-223.07%	-449.21%	0.07%	-12.82%	14.26%
	36	42	8	42	20	61	102	101	33	45	125	111	66
Interest	4	0	0	3	6	7	4	11	13	4	2	3	2
Depreciation	2	3	4	4	4	4	4	5	6	6	6	6	5
Profit before Tax	-15	2	-39	-19	-33	-1	66	29	-43	-19	118	32	113
Tax %	63.55%	25.85%	25.18%	67.58%	29.02%	16.90%	27.92%	4.96%	21.20%	-29.20%	14.48%	7.48%	20.21%
Net Profit	-5	2	-29	-6	-24	-1	48	28	-34	-25	101	30	90
	-0.35	0.10	-1.86	-0.39	-1.41	-0.03	2.83	1.66	-1.94	-1.26	5.03	1.45	4.22

Profit & Loss

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026	TTM
	681	475	486	440	90	253	472	19	349	860	1,166
	646	439	462	504	196	377	584	197	526	1,041	1,243
Operating Profit	34	36	24	-64	-106	-124	-112	-178	-176	-181	-77
OPM %	5.03%	7.60%	5.00%	-14.60%	-118.38%	-49.21%	-23.70%	-953.66%	-50.49%	-21.05%	-6.60%
	73	82	69	-157	47	158	281	128	283	314	346
Interest	32	35	5	2	4	5	9	7	28	21	10
Depreciation	4	4	3	7	7	6	10	13	18	24	22
Profit before Tax	71	79	85	-230	-70	23	151	-70	61	88	244
Tax %	30.64%	32.70%	30.72%	1.66%	25.01%	-90.64%	-0.46%	44.63%	16.47%	18.08%	19.62%
Net Profit	49	53	59	-226	-52	43	151	-39	51	72	196
EPS	10.96	10.46	11.39	-43.90	-10.17	2.77	9.77	-2.50	3.31	3.38	—
Dividend Payout %	50.34%	57.97%	52.58%	0.00%	0.00%	72.05%	23.52%	-105.82%	84.57%	103.57%	—

COMPOUNDED SALES GROWTH

10 Years:: 6%
5 Years:: 57%
3 Years:: 22%

COMPOUNDED PROFIT GROWTH

10 Years:: -1%
5 Years:: —
3 Years:: -22%

STOCK PRICE CAGR

10 Years:: 11%
5 Years:: 8%
3 Years:: -11%
1 Year:: 2%

RETURN ON EQUITY

10 Years:: 1%
5 Years:: 3%
3 Years:: 1%
Last Year:: 3%

Balance Sheet

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
Equity Capital	41	51	51	51	51	155	155	155	155	213
	1,447	1,749	1,696	1,445	1,389	1,332	1,455	1,384	1,396	2,838
	440	168	120	120	111	168	238	871	1,412	631
Trade Payables	170	167	123	92	94	116	168	168	206	379
	331	368	421	273	351	490	1,084	1,789	2,579	2,775
Total Liabilities	2,429	2,504	2,411	1,981	1,997	2,261	3,098	4,366	5,748	6,836
	9	6	6	10	3	16	15	24	25	27
Capital Work in Progress	8	9	10	12	15	3	5	5	5	3
	804	851	651	467	470	491	763	648	605	1,082
	879	739	998	913	1,032	1,057	1,815	3,178	3,795	3,500
	0	0	0	0	0	0	0	69	126	184
Cash & Bank	53	85	217	95	108	191	64	98	249	322
	676	814	529	484	369	503	436	346	942	1,717
Total Assets	2,429	2,504	2,411	1,981	1,997	2,261	3,098	4,366	5,748	6,836

Cash Flows

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
	154	117	182	-82	-85	-62	-176	-706	-97	-257
Cash from Investing	3	-79	222	102	137	112	20	209	-175	-482
Cash from Financing	-237	-37	-309	-48	-21	42	23	540	421	542
	-92	-10	73	-36	24	83	-138	43	149	-197

Ratios

Standalone Figures in Rs. Crores / View Consolidated

	Mar 2017	Mar 2018	Mar 2019	Mar 2020	Mar 2021	Mar 2022	Mar 2023	Mar 2024	Mar 2025	Mar 2026
PER SHARE
EPS (₹)	11.92	10.35	11.41	-44.00	-10.17	2.78	9.78	-2.50	3.31	3.38
Book Value (₹)	362.56	350.76	340.22	291.32	280.26	96.23	104.04	99.27	100.00	143.03
Dividend per Share (₹)	6.00	6.00	6.00	0.00	0.00	2.00	2.30	2.65	2.80	3.50
Cash EPS (₹)	3.97	3.40	3.67	-13.03	-2.72	2.92	9.55	-1.56	4.08	4.49
PROFITABILITY
Operating Margin %	15.70%	24.90%	19.16%	3.77%	-66.22%	-27.97%	9.40%	-953.66%	-50.49%	-21.05%
Net Margin %	7.19%	11.18%	12.06%	-51.38%	-58.29%	16.97%	32.05%	-207.74%	14.70%	8.38%
ROE %	3.31%	3.23%	3.30%	-13.94%	-3.56%	2.93%	9.77%	-2.47%	3.32%	3.13%
ROCE %	4.86%	5.41%	4.45%	-13.08%	-4.16%	1.70%	9.07%	-2.96%	3.31%	3.27%
	1.95%	2.15%	2.38%	-10.29%	-2.63%	2.01%	5.64%	-1.04%	1.02%	1.15%
EFFICIENCY
Debtor Days	30	68	87	84	285	85	64	1626	102	66
Inventory Days	530	622	652	793	3959	1508	1111	0	3643	1547
Payable Days	133	190	159	112	422	172	128	2472	229	138
	427	500	580	765	3821	1421	1047	-847	3516	1476
FINANCIAL HEALTH
Debt to Equity (x)	0.38x	0.20x	0.07x	0.08x	0.08x	0.11x	0.15x	0.56x	0.92x	0.20x
Interest Coverage (x)	3.21x	3.23x	16.42x	-124.10x	-18.00x	5.75x	18.69x	-8.98x	3.21x	5.19x
	2.43x	2.57x	2.52x	2.86x	2.45x	2.03x	1.57x	1.63x	1.33x	1.20x
GROWTH
Revenue Growth %	35.54%	-30.20%	2.32%	-9.49%	-79.62%	182.04%	86.67%	-96.04%	1769.35%	146.29%
Operating Profit Growth %	-36.20%	10.70%	-21.28%	-82.20%	-457.97%	-19.13%	162.74%	-265.59%	245.51%	27.44%
Net Profit Growth %	-37.49%	8.56%	10.30%	-485.71%	76.88%	182.10%	252.62%	-125.67%	232.27%	40.42%
	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-125.61%	232.20%	2.08%
VALUATION
P/E (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	82.94x	87.08x
P/B (x)	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	5.91x	2.99x	2.06x
Dividend Yield %	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.45%	0.94%	1.19%
	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	0.00x	-134.19x	54.46x	48.31x

Shareholding Pattern

Numbers in percentages

	Jun 2024	Sep 2024	Dec 2024	Mar 2025	Jun 2025	Sep 2025	Dec 2025	Mar 2026	Jun 2026
	51.16	51.15	51.15	51.14	52.43	52.42	52.41	52.41	52.41
	9.74	9.82	9.99	9.55	8.70	8.12	7.81	7.64	7.38
	21.26	20.91	20.70	20.09	21.82	22.45	22.83	22.86	22.77
Government	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
	17.84	18.12	18.15	19.22	17.05	17.00	16.94	17.09	17.45

Documents

Corporate disclosures, annual reports, credit ratings, and concall transcripts

2026-08-27

Diversification/Disinvestment

2026-08-27 - Mahindra Lifespace Developers Limited has informed the Exchange about Disinvestment

2026-08-21

Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-08-21 - Mahindra Lifespace Developers Limited has informed the Exchange about Pendency of Litigation(s)/dispute(s) or the outcome impacting the Company

2026-08-10

Press Release

2026-08-10 - Mahindra Lifespace Developers Limited has informed the Exchange regarding a press release dated August 10, 2026, titled "Mahindra Group Announces Dedicated Strategic Focus on Holidays and Lifespaces Sector to Accelerate Growth".

2026-08-05

Credit Rating

2026-08-05 - Mahindra Lifespace Developers Limited has informed the Exchange about Credit Rating

2026-07-30

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-30 - Mahindra Lifespace Developers Limited has informed the Exchange about Transcript

2026-07-25

Credit Rating

2026-07-25 - Mahindra Lifespace Developers Limited has informed the Exchange about Credit Rating

2026-07-24

Analysts/Institutional Investor Meet/Con. Call Updates

2026-07-24 - Mahindra Lifespace Developers Limited has informed the Exchange about Link of Recording

2026-07-24

Copy of Newspaper Publication

2026-07-24 - Mahindra Lifespace Developers Limited has informed the Exchange about Copy of Newspaper Publication

2026-07-23

Shareholders meeting

2026-07-23 - Mahindra Lifespace Developers Limited has submitted the Exchange a copy Srutinizers report of Annual General Meeting held on July 23, 2026. Further, the company has informed the Exchange regarding voting results.

News

Recent coverage and analyst commentary for MAHLIFE

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Free 5nance Account

Name

DLF

681.20

37.93

168618.23

1.17

793.90

-89.59

1280.34

-52.87

6.81

49.68

LODHA

1214.40

29.41

121345.67

0.35

1373.10

103.39

4996.70

43.10

16.89

38.51

PHOENIXLTD

1940.40

54.22

69403.81

0.13

394.51

22.95

1074.94

12.80

15.41

59.77

PRESTIGE

1608.00

60.81

69261.42

0.12

271.40

-12.87

2675.10

15.94

11.51

31.75

OBEROIRLTY

1875.00

25.93

68175.42

0.43

543.51

29.02

1300.89

31.73

17.69

56.75

GODREJPROP

1990.00

37.46

59944.07

0.50

349.38

-41.61

506.17

16.48

8.37

-57.98

BRIGADE

696.00

32.68

22707.65

0.22

216.94

37.35

1115.55

-12.93

11.02

32.33

ANANTRAJ

624.80

38.86

22485.11

0.16

149.19

18.50

631.40

6.58

12.23

29.53

ABREL

1372.05

115.87

15325.21

0.18

-34.59

-27.73

188.85

30.95

-4.54

-30.02

SOBHA

1259.40

58.40

13469.77

0.48

50.85

273.37

1278.15

50.03

6.96

6.07

SIGNATURE

796.95

10.74

11211.97

0.00

-16.53

-148.00

551.99

-36.24

34.77

-8.10

MAHLIFE

363.75

23.35

7761.47

0.96

85.55

-83.31

962.13

2909.48

8.34

10.71

Jun 2023

Sep 2023

Dec 2023

Mar 2024

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

182

162

272

550

331

225

189

272

621

284

Operating Profit

-45

-37

-43

-54

-43

-51

-27

-55

-57

-54

-71

OPM %

-670.83%

-502.69%

-2066.02%

-2105.10%

-23.54%

-2483.98%

-16.83%

-1495.12%

-223.07%

-449.21%

0.07%

-12.82%

14.26%

102

101

125

111

Interest

Depreciation

Profit before Tax

-15

-39

-19

-33

-1

-43

-19

118

113

Tax %

63.55%

25.85%

25.18%

67.58%

29.02%

16.90%

27.92%

4.96%

21.20%

-29.20%

14.48%

7.48%

20.21%

Net Profit

-5

-29

-6

-24

-1

-34

-25

101

-0.35

0.10

-1.86

-0.39

-1.41

-0.03

2.83

1.66

-1.94

-1.26

5.03

1.45

4.22

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

TTM

681

475

486

440

253

472

349

860

1,166

646

439

462

504

196

377

584

197

526

1,041

1,243

Operating Profit

-64

-106

-124

-112

-178

-176

-181

-77

OPM %

5.03%

7.60%

5.00%

-14.60%

-118.38%

-49.21%

-23.70%

-953.66%

-50.49%

-21.05%

-6.60%

-157

158

281

128

283

314

346

Interest

Depreciation

Profit before Tax

-230

-70

151

-70

244

Tax %

30.64%

32.70%

30.72%

1.66%

25.01%

-90.64%

-0.46%

44.63%

16.47%

18.08%

19.62%

Net Profit

-226

-52

151

-39

196

EPS

10.96

10.46

11.39

-43.90

-10.17

2.77

9.77

-2.50

3.31

3.38

—

Dividend Payout %

50.34%

57.97%

52.58%

0.00%

72.05%

23.52%

-105.82%

84.57%

103.57%

—

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

Equity Capital

155

213

1,447

1,749

1,696

1,445

1,389

1,332

1,455

1,384

1,396

2,838

440

168

120

111

168

238

871

1,412

631

Trade Payables

170

167

123

116

168

206

379

331

368

421

273

351

490

1,084

1,789

2,579

2,775

Total Liabilities

2,429

2,504

2,411

1,981

1,997

2,261

3,098

4,366

5,748

6,836

Capital Work in Progress

804

851

651

467

470

491

763

648

605

1,082

879

739

998

913

1,032

1,057

1,815

3,178

3,795

3,500

126

184

Cash & Bank

217

108

191

249

322

676

814

529

484

369

503

436

346

942

1,717

Total Assets

2,429

2,504

2,411

1,981

1,997

2,261

3,098

4,366

5,748

6,836

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

154

117

182

-82

-85

-62

-176

-706

-97

-257

Cash from Investing

-79

222

102

137

112

209

-175

-482

Cash from Financing

-237

-37

-309

-48

-21

540

421

542

-92

-10

-36

-138

149

-197

Mar 2017

Mar 2018

Mar 2019

Mar 2020

Mar 2021

Mar 2022

Mar 2023

Mar 2024

Mar 2025

Mar 2026

PER SHARE

EPS (₹)

11.92

10.35

11.41

-44.00

-10.17

2.78

9.78

-2.50

3.31

3.38

Book Value (₹)

362.56

350.76

340.22

291.32

280.26

96.23

104.04

99.27

100.00

143.03

Dividend per Share (₹)

6.00

0.00

2.00

2.30

2.65

2.80

3.50

Cash EPS (₹)

3.97

3.40

3.67

-13.03

-2.72

2.92

9.55

-1.56

4.08

4.49

PROFITABILITY

Operating Margin %

15.70%

24.90%

19.16%

3.77%

-66.22%

-27.97%

9.40%

-953.66%

-50.49%

-21.05%

Net Margin %

7.19%

11.18%

12.06%

-51.38%

-58.29%

16.97%

32.05%

-207.74%

14.70%

8.38%

ROE %

3.31%

3.23%

3.30%

-13.94%

-3.56%

2.93%

9.77%

-2.47%

3.32%

3.13%

ROCE %

4.86%

5.41%

4.45%

-13.08%

-4.16%

1.70%

9.07%

-2.96%

3.31%

3.27%

1.95%

2.15%

2.38%

-10.29%

-2.63%

2.01%

5.64%

-1.04%

1.02%

1.15%

EFFICIENCY

Debtor Days

285

1626

102

Inventory Days

530

622

652

793

3959

1508

1111

3643

1547

Payable Days

133

190

159

112

422

172

128

2472

229

138

427

500

580

765

3821

1421

1047

-847

3516

1476

FINANCIAL HEALTH

Debt to Equity (x)

0.38x

0.20x

0.07x

0.08x

0.11x

0.15x

0.56x

0.92x

0.20x

Interest Coverage (x)

3.21x

3.23x

16.42x

-124.10x

-18.00x

5.75x

18.69x

-8.98x

3.21x

5.19x

2.43x

2.57x

2.52x

2.86x

2.45x

2.03x

1.57x

1.63x

1.33x

1.20x

GROWTH

Revenue Growth %

35.54%

-30.20%

2.32%

-9.49%

-79.62%

182.04%

86.67%

-96.04%

1769.35%

146.29%

Operating Profit Growth %

-36.20%

10.70%

-21.28%

-82.20%

-457.97%

-19.13%

162.74%

-265.59%

245.51%

27.44%

Net Profit Growth %

-37.49%

8.56%

10.30%

-485.71%

76.88%

182.10%

252.62%

-125.67%

232.27%

40.42%

0.00%

-125.61%

232.20%

2.08%

VALUATION

P/E (x)

0.00x

82.94x

87.08x

P/B (x)

0.00x

5.91x

2.99x

2.06x

Dividend Yield %

0.00%

0.45%

0.94%

1.19%

0.00x

-134.19x

54.46x

48.31x

Jun 2024

Sep 2024

Dec 2024

Mar 2025

Jun 2025

Sep 2025

Dec 2025

Mar 2026

Jun 2026

51.16

51.15

51.14

52.43

52.42

52.41

9.74

9.82

9.99

9.55

8.70

8.12

7.81

7.64

7.38

21.26

20.91

20.70

20.09

21.82

22.45

22.83

22.86

22.77

Government

0.00

17.84

18.12

18.15

19.22

17.05

17.00

16.94

17.09

17.45

Mahindra Lifespace Developers Ltd.

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Mahindra Lifespace Developers Ltd.

AI Sector View

Peer comparison

Quarterly Results

Profit & Loss

Balance Sheet

Corporate actions

Cash Flows

Ratios

Shareholding Pattern

Documents

News

Sign in to Chat with AI