Mahindra Lifespace Developers Ltd (MAHLIFE)
₹471.85
Key Stats
₹468.1
Day's Price Range
₹484.95
₹218.5
52-Week Price Range
₹484.95
| Returns | |
| 1 Month Return | 10.63 % |
| 3 Month Return | 29.52 % |
| 1 Year Return | -37.31 % |
Company Financials
Value in ₹ crore
Peer Comparsion
PE
Rank 95
45.59
EPS
Rank 25
₹10.5
BVPS
Rank 42
₹105.8
Dividend Yield
Rank 44
ROE
Rank 320
-3.55%
Price To Book Ratio
Rank 98
4.52
Debt To Asset
Rank 167
0.37
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Company Information
Mahindra Lifespace Developers Limited MLDL is one of the leading real estate development companies in India. Mahindra Lifespace Developers Limited MLDL a wholly owned subsidiary of Mahindra Mahindra Ltd came into existence with the demerger of the property development division of Great Eastern Shipping. MLDL was incorporated in 16th March of the year 1999 as a private limited company and in 18th August of the same year 1999 the company was converted into public limited company under the name of Gesco Corporation Limited. The Company along with its subsidiary companies is engaged in various infrastructure projects including development of Special Economic Zones SEZs the development of real estate residential projects in the midpremium and affordable housing segments integrated cities and industrial clusters. It is running in the platforms of design development construction and marketing of residential and commercial projects. As on 31st March 2019 the company had development potential of 1.25 msft in yet to be launched phases of its ongoing projects and another 3.90 msft in new projects for which design development or approvals are underway. In addition it has a landbank with development potential aggregating around 10.44 msft 91 of which is within MWC Chennai.The Company had entered into a Joint Venture with Regus PLC U.K. during the year 200001 and also incorporated one JV Company in India to provide operation of business centres initially in major cities such as Delhi Mumbai and Bangalore. To have a nationwide presence in the property services sector the company had set up a subsidiary company i.e. GESCO Corporation South Ltd. Bangalore to explore opportunities in the South during the year 200001. Dalmia sold their 10.5 stake to ShethMahindra and in lieu of that GESCO became a subsidiary of Mahindra Mahindra during the year 2001. At Pune the company launched The Nest a residential project about 80000Sq.ft near Pimpri Chinchwad in the year 200102. The Tirupur Water Supply Sewerage Project which was started in October of the year 2002. The Company name was changed from Gesco Corporation Limited to Mahindra Gesco Developers Limited with effective from 24th December of the year 2002. During the year 200304 MISL reduced its exposure to commercial property and had increased its activities in the residential segment. The Company received an ISO 9001:2000 certification from Bureau Veritas Quality International Holding S.A. London in 19th August of the year 2003. During the year 200405 the company commenced its operations in Chennai with the launch of a commercial complex on a builttosuit basis for a leading private sector bank Commercial Bank. Also in the same year MLDL had launched a new residential project covered 500000 Sq.ft at Wakad near Pune. Mahindra World City Maharashtra Limited and Mahindra World City Jaipur Limited became subsidiaries of the company in the year 200506. During the same year Mahindra Industrial Park Limited which developed the countrys first Special Economic Zone SEZ in the private sector as a joint venture with the Government of Tamil Nadu was rechristened as Mahindra World City Developers Limited. MLDL had established track record in the development of Integrated Business Cities including Special Economic Zones SEZs with Mahindra World City in 200607 at Chennai and also in the same year 200607 the company launched another prestigious residential project Mahindra Royale at Pimpri near Pune for which the construction has commenced. The fresh incorporation certificate was received in 25th October of the year 2007 the company name was changed to Mahindra Lifespace Developers Limited. The Golden Peacock National Quality Award2007 came to companys hand and also the company received CNBC Awaaz CRISIL Real Estate Awards 2007 for most transparent system. In 200708 the Company made its foray into international MLDL had signed a MoU with Board of Investments of Sri Lanka.MLDL had entered into a joint venture agreement between its subsidiary company Mahindra Residential Developers MRDL and ARCH Capital Asian Partners an affiliate of Ayala Land and Ayala Corporation during April of the year 2008 for the development of a gated residential community together with support retail and recreational facilities within Mahindra Lifespacess SEZ at Mahindra World City New Chennai. The Company along with BE Billimoria Co BEBL had jointly won a bid in May of the year 2008 to develop a residential project over a scheduled land comprising of around 25 acres. As at June 2008 Mahindra World City MWC Subsidiary of the company Jaipur had signed memorandum of understanding MoU with Vamani Overseas to set up 4 acre camps in MWC Jaipur handicraft zone. The Company plans to invest in two new subsidiaries viz. Mahindra World City Jaipur and Mahindra World City Maharashtra which will develop two new SEZs of 3000 acres each in partnership with the governments of Rajasthan and Maharashtra for multi product SEZs near Jaipur and Lonavala.On 4th April 2013 the Company issued and allotted 5000Secured Listed Rated Redeemable 10.78 per cent YTM NonConvertible Debentures NCDs with a face value of Rs.1000000 each for cash at par aggregating Rs.500 crores vide Series I Series II and Series III on Private Placement basis. In the residential segment the Company launched two new projectsLartista and Nova in the luxury and budget home segments respectively. In addition fresh inventory in three of its existing projects were also launched during the year. During 201314 the Company sold over 700 residential units across its ongoing and newly launched projects including projects of its subsidiary companies in the residential space.During the year 201314 the Company completed multiple phases of Aqualily and Phase I of Iris Court in Mahindra World City Chennai. Two new projects and new phases of 3 existing projects were launched during the year which are at different stages of construction. The projectwise details are provided below. Eminente a premium highrise residential complex in Goregaon Mumbai is spread over 5.58 acres covering 0.57 million square feet of saleable area. All units in this project have been sold and the construction of the second and third phase was completed in the previous year. During 201314 handover of units in Phase II was completed and was nearing completion for the final phase Phase III.During 201314 the Company completed the construction of the last three phases of the villas 1B 1C 1D and the first phase apartments 2A taking the total completed area under the project to 0.61 million square feet. Construction for the next two phases of apartments 2B 2C covering 0.78 million square feet is progressing as per schedule. 67 per cent of the total units launched in this project have been sold up to March 2014.During 201314 the first phase of Aqualily project covering 0.27 million square feet was completed. Construction in the remaining two phases is underway and progressing as per schedule. 82 per cent of the total units launched in this project have been sold up to March 2014.During the year 201314 the second phase 2A and 2C of the pilot project Bloomdale in Nagpur Maharashtra was launched taking the total saleable area launched to 0.59 million square feet. Construction work for the new phase also started during 201314 and is progressing as per schedule. While construction in phase 1 A B and C is in advanced stages 84 per cent of the total units launched in this project have been sold upto March 2014.During the year 201314 the Company launched the first phase of the Nova in Mahindra World City Chennai the first phase of the project which has 360 units. The construction work also started along with the launch and is progressing as per schedule. 51 per cent of total units launched have been sold as of March 2014.During the year 201415 the Company sold over 1400 residential units across its ongoing and newly launched projects including projects of its subsidiary companies in the residential space. During the year 201415 Mahindra World City MWC Jaipur received a Gold precertification for its IT SEZ under the IGBC SEZ rating system. It is the second SEZ in India to receive this distinction.During the year 201415 the company added 13 customers 5 in SEZ 7 in DTA and 1 in both SEZ and DTA in the IT/ITeS SEZ Engineering Related Industries SEZ and Evolve the multi tenanted IT Park which is spread over approximately 25 acres within the IT SEZ. At the end of the year the Company had 64 customers in its business zone 23 in DTA and 41 in SEZ. 5 existing customers also increased their footprint during the year.In the residential segment the Company sold over 1000 residential units aggregating to 1.16 million square feet of saleable area in 201516 across its ongoing and newly launched projects including projects of its subsidiary companies. The Company launched two new projects Vivante and Windchimes marking its entry in the Bangalore market with the latter. In addition fresh inventory in four of its existing projects was also launched during the year 201516.In the large format developments the Companys subsidiary Mahindra World City Developers Limited MWCDL signed a JV Agreement with Sumitomo Corporation Japan to develop an industrial park in North Chennai on the NH5 Chennai Kolkata highway in FY 201516. Mahindra Industrial Park Chennai Limited was a wholly owned subsidiary of Mahindra World City Developers Limited. During the financial year 201516 Mahindra World City Developers Limited had entered into a Joint Venture Agreement with Sumitomo Corporation Japan to set up an Industrial Park in North Chennai the NH5 corridor on approximately 300 acres. In terms of the Joint Venture Agreement Mahindra Industrial Park Chennai Limited which was a wholly owned subsidiary of Mahindra World City Developers Limited is now a joint venture between Mahindra World City Developers Limited and Sumitomo Corporation in the ratio of 60:40 respectively. Accordingly Mahindra Industrial Park Chennai Limited is a subsidiary of Mahindra World City Developers Limited and consequently a subsidiary of the Company.During the year 201617 the company launched the first two phases I II of the Windchimes project comprising 229 apartments with a total saleable area of 0.44 million square feet. 54 per cent of the total units launched in this project have been sold up to March 2016. The Board of Directors had at its meeting held on 27 October 2016 approved Rights Issue upto an amount of Rs. 300 crore. The Rights Issue of 10273600 equity shares at a price of Rs. 292 including face value of Rs. 10 each per equity share aggregating Rs. 299.99 crore in the ratio of 1:4 that is 1 Right Equity Share for every 4 fully paidup equity shares of the Company held by the Equity Shareholders on the Record Date i.e. 31 March 2017. The Rights Issue was opened on 12 April 2017 and closed on 26th April 2017 both days inclusive. The Rights Issue proceeds are being utilized for the purpose of the Issue i.e. payment of Rights Issue expenses repayment of debt and for general corporate purposes. There is no deviation in the use of Rights Issue proceeds from the objects stated in the Letter of Offer dated 27 March 2017. The Right Issue was subscribed 129.18 percent of the Issue size in terms of number of equity shares applied. The Basis of Allotment was finalized on 4 May 2017 in consultation with the BSE Limited the Designated Stock Exchange. Accordingly the basis of allotment was approved and 10263388 Equity Shares of face value of Rs10 each issued at a price of Rs292 per Equity Share including a premium of Rs. 282 per Equity Share fully paid up were allotted on 5 May 2017 by the Rights Issue Committee. The said equity shares have been listed on the BSE Limited and National Stock Exchange of India Limited and they rank paripassu with the existing equity shares in all respects. The allotment of 10212 Rights Equity Shares have been kept in abeyance pursuant to provisions of the Companies Act 2013 till such time the title of the bonafide owner of the shares is certified by the concerned Stock Exchange or the Special Court Trial of offenses relating to transactions in Securities. On 30th March 2017 MHPL allotted in its Right Issue 411251 Series A equity shares with voting rights of face value Rs. 10 each to the Company. Pursuant to the allotment the shareholding of the Company in Series A equity shares with voting rights of MHPL has increased from 50 percent to 74.99 percent. Basis the overall paid up share capital of MHPL the shareholding of the Company in MHPL increased from 50 to 74.98. SCM Real Estate Singapore Private Limited holds 25.02 of the paidup share capital as a joint venture partner in MHPL. Pursuant to the increase in shareholding MHPL became a subsidiary of the Company and an indirect subsidiary of the Promoter of the Company viz Mahindra and Mahindra Limited.During the year 2017 Company completed the acquisition of 268 acres near Ahmedabad in Gujarat for the development of an industrial cluster.During the year 2018 the Company also launched its new brand for midsized acres industrial clusters called ORIGINS by Mahindra World City. The first two of these clusters near Chennai and Ahmedabad are in various stages of planning and development.During the year 2018 the Company entered into two partnerships. The first partnership is with International Finance Corporation IFC a member of the World Bank Group for the development of multiple industrial parks across Gujarat Rajasthan and Maharashtra. This entails an investment commitment of USD 50 million with the first investment in Origins Jansali the 268acre industrial cluster near Ahmedabad. The second partnership is with a fund managed by HDFC Capital Advisors Limited for projects in the affordable housing space with joint commitment of Rs500 crore that can deliver development footprint of 510 million square feet. Happinest Palghar I II in the Mumbai Metropolitan Region which has an estimated saleable area of 1.05 million square feet is the first project to be implemented under this partnership.During FY 201819 the Company launched three new projects Roots in Kandivali Mumbai Metropolitan Region MMR Lakewoods in Mahindra World City MWC in Chennai and Centralis in Pimpri Pune. Additionally it launched fresh inventory in two of its existing projects Antheia Pune Bloomdale Nagpur. In the affordable housing segment the Company launched fresh inventory in two of its existing projects Happinest Avadi Chennai and Happinest Palghar MMR. It sold 1678 residential units aggregating 1.69 million square feet of saleable area for an aggregate sales value of Rs. 1023 crore in FY 201819 The Company executed land leases of around 93 acres in FY 201819 at MWCs Chennai Jaipur Origins Chennai. The IC IC business has leased entire industrial land inventory at Mahindra World City Chennai. Origins Chennai the first industrial cluster project launched in FY 201819 in partnership with Sumitomo Corporation signed its anchor customer. Origins Ahmedabad the second industrial cluster project has obtained all key approvals for the first phase of the project and the initial development work has already started. It is being developed by the Companys subsidiary Mahindra Industrial Park Private Limited MIPPL in a strategic partnership with International Finance Corporation. The multiproduct SEZ notification in FY 201819 at MWC Jaipur has enabled the business to engage in new industrial segments.During the year 2019 consequent to coming into force of the Companies Amendment Act 2017 effective 7th May 2018 Mahindra Knowledge Park Mohali Limited which was an associate company of the Company became a subsidiary of MWCML and consequently the subsidiary of the Company. Similarly Mahindra Construction Company Limited which was an indirect subsidiary of the Company ceased to be a subsidiary of the Company.In FY 2019 the successfully executed three land deals in FY 201819 one each in Pune Bengaluru and Kalyan in the MMR with a combined development potential of around 2.29 million square feet.In FY 201819 the integrated cities and industrial clusters business leased 93 acres of land. Chennai signed its anchor client a leading Japanese diesel engines manufacturer in FY 201819.
| Organisation | Mahindra Lifespace Developers Ltd |
| Headquarters | Mumbai |
| Industry | Construction |