Mahindra Lifespace sells homes worth Rs 350 crore in 2 days in Bengaluru project, stock still down

Mahindra Lifespace Developers shares were down at Rs 623.80 in the opening trade on April 19 despite the company selling homes worth Rs 350 crore in a Bengaluru residential project amid a broader weakness in the market following reports of fresh Israel strike on Iran.

At 9.32am, Mahindra Lifespace Developers was quoting at Rs 623.80, down Rs 3.10, or 0.49 percent, on the BSE.

On April 18, the company announced the successful launch of Bengaluru's first net zero waste + energy residential project, Mahindra Zen.

The project witnessed an outstanding response from homebuyers, with over 150 homes booked within just two days, which is  65 percent of the launched inventory, totalling over Rs 350 crores in value, the company said in its release.

“The successful sales of Mahindra Zen reinforces our commitment to environmentally responsible development and highlights the growing preference for sustainable living among our customers in Bengaluru," said Vimalendra Singh, Chief Business Officer (Residential), Mahindra Lifespace Developers. "This achievement highlights the increasing awareness and desire among homebuyers to contribute to a greener future.”

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The company 's board will meet to on April 26 to approve the annual audited standalone and consolidated financial statements and results of the company for the quarter and financial year ended March 31, 2024. The board will also consider a final dividend, if any, the company said.