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Mahindra Lifespace Developers Ltd.

BSE: 532313 Sector: Infrastructure
NSE: MAHLIFE ISIN Code: INE813A01018
BSE 00:00 | 24 Apr 2020 Mahindra Lifespace Developers Ltd
NSE 05:30 | 01 Jan 1970 Mahindra Lifespace Developers Ltd

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OPEN 195.00
PREVIOUS CLOSE 191.00
VOLUME 1376
52-Week high 454.15
52-Week low 181.35
P/E 28.46
Mkt Cap.(Rs cr) 943
Buy Price 182.50
Buy Qty 3.00
Sell Price 187.95
Sell Qty 1.00
OPEN 195.00
CLOSE 191.00
VOLUME 1376
52-Week high 454.15
52-Week low 181.35
P/E 28.46
Mkt Cap.(Rs cr) 943
Buy Price 182.50
Buy Qty 3.00
Sell Price 187.95
Sell Qty 1.00

Mahindra Lifespace Developers Ltd. (MAHLIFE) - Chairman Speech


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Company chairman speech

Dear Shareholders

It gives me immense pleasure and pride to write to you as your Company celebrates itssilver jubilee!

Your Company is built on a robust foundation anchored on the core values of theMahindra Group - Professionalism Good corporate governance Customer centricity Qualityand Transparency. From the very beginning it has been committed to sustainable businesspractices ethical values and driving positive change in the lives of its stakeholdersand communities.

The Real Estate industry has experienced significant shifts in the past few years-regulatory and market dynamics. These structural shifts will enable the industry toconsolidate and evolve to ultimately benefit the home owners. Based on what I understandof the policies of the new Government it will augur well for your Company. The Governmentbelieves that the construction industry will create jobs and provide a kickstart to theeconomy. In addition the Prime Minister’s mission of "Housing for All"will give a major boost to the industry. Your Company has been able to successfullynavigate the strong head winds in the last four years which hit the Real Estate industryand given its reputation and low debt it should significantly benefit from the newpolicies and market changes.

In my humble opinion your Company is probably one of the best poised because of theMahindra Group’s strength both in manufacturing and innovation to be a leadingplayer in the Affordable Housing segment. In addition the Make in India campaign and thethrust to growth towards the MSME sector will benefit our Integrated Cities and IndustrialClusters segment of the business.

In the premium residential sector your Management has found the right niche and withthe initiatives that they have taken both in raising financial resources and landacquisition you should see positive results in the future.

The Company has built strong partnerships with various investors such as Actis HDFCCapital IFC and Sumitomo to catalyze growth.

We believe the time is right for strong brands like ours that possess executioncapabilities ability to raise funds and a customer-centric mindset to carve out adistinct position and win. As we turn twenty five we are setting out on a journey ofgrowth with a strong sense of purpose and mindful aggression. Our Credo of ‘Sellgenuinely Build responsibly Deliver on time’ is rooted in the way we do things andreflected in our actions. I am confident that we are poised to deliver scale andprofitable growth in the coming years anchored on a strong foundation of‘Transforming urban landscapes by creating sustainable communities.’

Your Company achieved some ‘best-evers’ during the year on parametersincluding sales collections completion and handover of units. The residential businesscrossed Rs. 1000 crore in sales Rs. 950 crore in collections and 1.8 msft completionduring the year.

The consolidated total revenue grew to Rs. 653.9 crore in FY 2018-19. In FY 2018-19the Profit Before Tax (PBT) grew by 6.5% to Rs. 143.3 crore and the Profit After Tax (PAT)grew by 18.5% to Rs. 119.7 crore.

Let us jointly encourage the management at this juncture to grow and win in asustainable and customer-centric manner and wish them all the best.

I would like to extend my sincere thanks to all employees customers business andfinancial partners of your Company and you as a shareholder for your support.

With best regards
Yours sincerely
Arun Nanda
Chairman


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