Mumbai, Jan 31, 2025 – Mahindra Lifespace Developers Limited (MLDL), the real estate and
infrastructure development business of the Mahindra Group, announced its financial results for the
quarter ended 31st December 2024 today. In accordance with INDAS 115, Company recognizes its
revenues on completion of contract method.

Key highlights

9M FY25 & Q3 FY25:

• Achieved pre-sales of Rs 1,749 crore in the residential business (saleable area – 2.15 msft, RERA
  carpet area – 1.62 msft). Q3 FY25 pre-sales of Rs 334 crore (saleable area – 0.45 msft, RERA
  carpet area – 0.33 msft).
• Gross development value additions in 9M FY25 were Rs 14,050 crore as against Rs 2,360 crore in
  9M FY24. Additions during the quarter include 37-acre land parcel (JDA) at Bhandup (planned for
  residential, commercial and retail) with a GDV potential of Rs 12,000 crore. Post the end of the
  quarter, we acquired an 8-acre land parcel near Bengaluru airport with a GDV potential of Rs
  1,000 crore.
• Collections stood at Rs 1,365 crore for the 9M FY25 from the residential business as compared to
  Rs 973 crore for 9M FY24.
• Achieved revenues through land leasing of 47.3 acres in the IC&IC business for Rs 208.9 crore.
  During Q3 FY25, 12.4 acres were leased for Rs 45.7 crore.
• The consolidated total income stood at Rs 408.4 crore in 9M FY25 vs. Rs 224.5 crore in 9M FY24.
  The consolidated total income stood at Rs 185.8 crore in Q3 FY25 vs. Rs 88.8 crore in Q3 FY24
  and Rs 16.0 crore in Q2 FY25.
• The consolidated loss, after non-controlling interest, stood at Rs 23.8 crore in 9M FY25 as against
  profit of Rs 26.8 crore in 9M FY24. The consolidated loss, after non-controlling interest, stood at
  Rs 22.5 crore in Q3 FY25 as against profit of Rs 50.0 crore in Q3 FY24 and a loss of Rs 14.0 crore
  in Q2 FY25

Commenting on the performance, Mr. Amit Kumar Sinha, Managing Director & CEO, Mahindra
Lifespace Developers Ltd., said, “We recorded our highest ever GDV additions during Q3, setting
us up very well to achieve 5x growth target. Q3 FY25 pre-sales was primarily driven by sustenance,
though it was slow compared to last year. We launched IvyLush during the quarter and are getting a
good response for the project. We are gearing for our planned launches in Q4 FY25 across our key
markets. Our IC&IC business continues to benefit from strong macro tailwinds.”

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.