Mahindra Lifespace expects over 2.5-fold rise in bookings soon

Realty firm Mahindra Lifespace Developers is targeting a 2.5-fold jump in its annual sales bookings to Rs 2,500 crore in the next three years on better housing demand, its MD and CEO Arvind Subramanian has said. Mumbai-based had achieved sales bookings of Rs 1,028 crore in the last financial year. The company's managing director Arvind Subramanian said: “We have started the first quarter with an extremely strong performance on all fronts”.

The company clocked Rs 600 crore of residential sales during the April-June quarter of the 2022-23 fiscal year against Rs 1,000 crore in the full previous year, he highlighted. The collections from customers were also healthy at about rs 270 crore, while industrial leasing was worth Rs 118 crore in the June quarter.

“The first quarter has set us up very well for the year. We are expecting very strong continued growth in quarter two and the rest of the year as well. We will certainly be above our FY22 numbers,” he said.