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Mahindra Lifespace Q2: Pre-Sales Up 41%, Profit Down 66%

  • by- Grihik
  • Oct 24, 2026
Mahindra Lifespace's Q2 residential pre-sales rose 41% to Rs 1,063 crore, but profit fell 66% to Rs 16 crore. H1 pre-sales are up 66%.
Mahindra Lifespace Q2: Pre-Sales Up 41%, Profit Down 66%

Mahindra Lifespace Developers reported residential pre-sales of Rs 1,063 crore in Q2 FY27, up 41% from Rs 752 crore a year earlier and up 15% from Q1. Consolidated net profit fell 65.9% to Rs 16.34 crore from Rs 47.91 crore. The results were announced on Thursday, October 22.

What are the key numbers?

  • H1 pre-sales: Rs 1,988 crore, up 66% from Rs 1,200 crore

  • Consolidated sales: Rs 1,126 crore in Q2 (up 32%) and Rs 2,101 crore in H1 (up 48%)

  • Collections: Rs 625 crore in Q2, against Rs 517 crore a year earlier

  • Business development: projects worth Rs 1,500 crore added in Q2 and Rs 7,100 crore in H1, up from Rs 5,200 crore

  • Balance sheet: net cash position, with a net debt-to-equity ratio of minus 0.28

 

 

Why did profit fall?

Revenue from operations was only Rs 32.4 crore, because revenue recognition lags pre-sales. The company reported an operating loss at the EBITDA level (about Rs 55 crore) and relied on Rs 72 crore of other income to reach a small profit. Half-year profit was Rs 102 crore, barely above last year's Rs 99 crore.

What drove sales?

The company said launches at Rainforest, BeaconHill and Citadel Phase 3 supported the first half. Its integrated cities and industrial clusters business recorded Rs 72 crore of sales in Q2, down 27% from a year ago but up 76% from Q1. Managing director Amit Kumar Sinha said the company has a pipeline in that business expected to close in the second half.

What does the market think?

Shares touched a day high of Rs 359.50, up about 5%, on results day. ICICI Direct kept a Buy rating with a target of Rs 450 and noted the company is on track for its FY27 pre-sales guidance. The brokerage also cites a company goal of about Rs 9,500 crore of residential pre-sales by FY30. Ratings are one opinion, not advice.

How to read it

For a builder, pre-sales show demand today and profit shows past projects handed over. When pre-sales grow fast and profit lags, earnings should catch up as projects are built, if sales hold.