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HDFC Securities is bullish on Mahindra Lifespaces has recommended buy rating on the stock with a target price of Rs 521 in its research report dated April 26, 2023.
Broker's call: Mahindra Lifespaces (Buy) | Updated on CMP: ₹494.60 Mahindra Lifespaces Developers Ltd (MLDL) reported operationally strong quarter with pre-sales value/volume growing 77 per cent/67 per cent sequentially to ₹350 crore, driven by four new launches. For FY21, MLDL registered de-growth in pre-sales value/volume of 15 per cent/25 per cent as H1-FY21 was impacted due to Covid-19. Labour availability has reduced to 60 per cent and is expected to ramp up by Q1-FY22 end as Covid-19 impact reduces. Over last 9M, MLDL has added 3 land parcels with nearly ₹1,500 crore pre-sales po...
Initiating Coverage on Mahindra Lifespaces - HDFC Securities Posted On: Mr. Parikshit D Kandpal, Institutional Research, HDFC Securities Mahindra Lifespaces Developers Ltd (MLDL) is perceived to have missed the real estate cycle despite being an early starter. There is no point delving into what has gone wrong; instead we take a fresh look at what can transpire over the next few years. What has changed? Aggression: top management is a mix of Lodha (CEO, CMO, and CSO), Tata Housing (CLO) and Sobha (CPO). Financial strength: it has the lowest borrowing with ~20% lower cost than peers. Business ...