Mahindra Lifespaces Announces Continuing Partnership with Sumitomo Corporation for its Industrial Clusters Business

Mumbai, November 22, 2024 – Mahindra Lifespace Developers Ltd. (MLDL), the real estate and infrastructure development arm of the Mahindra Group, through its subsidiary Mahindra World City Developers Limited (MWCDL), has announced the second phase of their Industrial Parks project in Tamil Nadu under the brand “Origins by Mahindra,” in partnership with Sumitomo Corporation, Japan. This expansion marks a significant step in enhancing industrial growth in the region. The Joint Venture Agreement originally signed in 2015, with Sumitomo Corporation was further strengthened today through a Supplemental Agreement which involves an investment of approximately ₹225 crores by MWCDL and Sumitomo Corporation, Japan in Mahindra Industrial Park Chennai Limited (MIPCL), in proportion of their existing shareholding. This new phase will also focus on the acquisition and development of land and associated infrastructure to establish an advanced industrial ecosystem. Mr. Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said “At Mahindra Lifespaces, we take pride in developing industrial clusters and integrated cities that drive economic growth and support businesses. The partnership with Sumitomo Corporation, reflects our commitment to fostering progress and enabling industries to thrive sustainably.” MIPCL which currently spans over 307 acres, already hosts global and domestic companies that have set up their industrial facilities. Its objective is to play a pivotal role in supporting the region’s industrial and economic growth and offer world-class infrastructure to businesses.

Mahindra Lifespaces Reports Pre-Sales of ₹1,415 Crore and Industrial Land Leasing of ₹163 Crore for H1 FY25

Mumbai, Oct 25, 2024 – Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development business of the Mahindra Group, announced its financial results for the quarter ended 30th September 2024 today. In accordance with INDAS 115, Company recognizes its revenues on completion of contract method. Key highlights H1 FY25 & Q2 FY25:

• Achieved pre-sales of Rs. 1,415 crore, 77% y-o-y growth (saleable area – 1.70 msft, RERA carpet area – 1.29 msft) [Q2 FY25 - Rs. 397 crore (saleable area – 0.53 msft, RERA carpet area - 0.42 msft)] in residential business
• Gross development value additions in H1 FY25: (1) Rs. 1,800 crore society development in Sai Baba Nagar, Borivali (7 societies), our third such project in Mumbai; (2) Rs. 250 Cr GDV potential from 2-acre land parcel adjacent to our Project ‘Mahindra Zen’ in Bengaluru​
• Collections at Rs. 999 crore [Rs. 459 crore in Q2 FY25] from the residential business
• Achieved land leasing of 34.9 acres in the IC&IC business for Rs. 163.2 crore [Q2 FY25 - 16.1 acres for Rs. 87.1 crore]
• The consolidated total income stood at Rs. 16.0 crore in Q2 FY25 vs. Rs. 25.7 crore in Q2 FY24 and Rs. 206.7 crore in Q1 FY25
• The consolidated loss, after non-controlling interest, stood at Rs. 14.0 crore in Q2 FY25 as against loss of Rs. 19.0 crore in Q2 FY24 and a profit of Rs. 12.7 crore in Q1 FY25
• The consolidated total income stood at Rs. 222.7 crore in H1 FY25 vs. Rs. 135.8 crore in H1 FY24
• The consolidated loss, after non-controlling interest, stood at Rs. 1.3 crore in H1 FY25 as against loss of Rs. 23.2 crore in H1 FY24

Commenting on the performance, Mr. Amit Kumar Sinha, Managing Director & CEO, Mahindra Lifespace Developers Ltd., said, “We had a strong H1 FY25 performance driven by our project launches in earlier months, though the quarter was little muted. The real estate industry is witnessing strong tailwinds especially in the mid-premium and premium segments. We have an exciting set of launches planned for the reminder of the year. Our IC&IC business has continued to deliver a strong performance with increasing demand for manufacturing and favourable policy announcements from the Government.” Notes:

1. Company uses carpet areas in its customer communication. However, the data in saleable area terms has been presented here to enable continuity of information to investors and shall not be construed to be of any relevance to home buyers / customers.
2. The operational highlights include the performance of the Company and its subsidiaries / joint ventures / associates.

• Acquired 5.38 acres of land in Wagholi, Pune with a development potential of more than 1.50 msft (saleable area)
• Achieved pre-sales of Rs. 443 crore (saleable area – 0.53 msft, RERA carpet area – 0.37 msft) in residential business
• Launched 0.62 msft of saleable area (RERA carpet area – 0.39 msft) at Mahindra Citadel phase 2 at Pune and Happinest Palghar 2 phase 2
• Collections at Rs. 386 crore in residential business
• Achieved land leasing of 77.4 acres in the industrial business for Rs. 224 crore
• The consolidated total income stood at Rs. 89 crore as against Rs. 198 crore in Q3 FY23 and Rs. 26 crore in Q2 FY24
• The consolidated PAT, after non-controlling interest, stood at Rs. 50 crore as against profit of Rs. 33 crore in Q3 FY23 and a loss of Rs. 19 crore in Q2 FY24

• Achieved pre-sales of Rs. 1243 crore (saleable area – 1.63 msft, RERA carpet area – 1.19 msft) in residential business for 9M FY24
• Launched 1.47 msft of saleable area (RERA carpet area – 1.07 msft) across Mahindra Citadel phase 2, Tathawade phase 3 at Pune, Lakefront Estates plotted development at Chennai and Happinest Palghar 2 phase 2
• Collections at Rs. 973 crore in residential business for 9M FY24
• Achieved land leasing of 90.1 acres in the industrial business for Rs. 271 crore
• The consolidated total income stood at Rs. 225 crore as against Rs. 389 crore in 9M FY23
• The consolidated PAT, after non-controlling interest, stood at Rs. 27 crore as against a profit of Rs. 101 crore in 9M FY23

• Company uses carpet areas in its customer communication. However, the data in saleable area terms has been presented here to enable continuity of information to investors and shall not be construed to be of any relevance to home buyers / customers.
• The operational highlights include the performance of the Company and its subsidiaries / joint ventures / associates.