Mahindra Lifespace Developers (MLDL), the real estate and infrastructure arm of the Mahindra Group, reported a consolidated profit after tax of Rs 510 million for Q1 FY26, up from Rs 130 million in Q1 FY25.  

The quarter saw gross development value (GDV) additions of Rs 35 billion, a 2.5x rise from Rs 14 billion a year ago. Consolidated sales across residential and IC&IC segments stood at Rs 5.69 billion. 

Residential pre-sales touched Rs 4.49 billion, with a saleable area of 0.58 million sq ft, lower than the Rs 10.19 billion achieved in Q1 FY25, as the company awaits approvals for upcoming launches. Residential collections stood at Rs 518 crore. 

The IC&IC business clocked revenues of Rs 1.2 billion in Q1, growing 17 per cent YoY, with total leased area of 18.7 acre. Consolidated income under INDAS was Rs 410 million. 

MLDL also completed a successful rights issue during the quarter, bringing its net debt-to-equity ratio to -0.23, indicating a cash surplus. 

Amit Kumar Sinha, MD & CEO, said: “We started the year well with a successful Rights issue in Q1, that has further improved our Balance sheet. We are continuing BD momentum with GDV additions of Rs 35 billion. Our residential sales have been lower as we await certain approvals, however, we have several launches planned in the subsequent quarters. Our IC&IC business has been firing on all cylinders, clocking healthy leasing activity across Jaipur and Chennai.”