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Revenue
₹670 Cr
verified against source
Revenue YoY
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reported change
EBITDA
Pending
latest reported figure
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Actual signal trajectory
Where this quarter sits.
Quarter read
What the record says.
Mahindra Lifespace reported a strong Q4 FY26 with residential pre-sales of ₹1,633 crore and full-year PAT of ₹298 crore, a 5x jump YoY, driven by successful launches and IC leasing. The company added 18,000 crore GDV in FY26, crossing the 45,000 crore cumulative target. Management guided FY27 residential pre-sales of ₹4,500-5,000 crore, supported by a launch pipeline of ~₹10,000 crore. However, they noted early signs of demand moderation due to geopolitical uncertainty, though sustenance sales remain robust. Key risks include potential slowdown from war impact and execution delays in society redevelopment projects.
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Guidance to track
- Management reiterated guidance for FY27 residential pre-sales, expecting a significant jump from FY26's ₹3,400 crore.
- Includes ₹3,000 crore from Rainforest and ₹7,000 crore from 7-8 other launches across cities.
- Management expects IC leasing to remain at ₹400-500 crore per year, with PAT contribution of ~₹550 crore.
- Plans to build annuity income from mixed-use developments at Tane, Pune, and Bhu, targeting ₹150-200 crore rent.
Risks flagged
- Management noted early signs of lower walk-ins and delayed decisions due to war, though sustenance sales remain strong.
- Society redevelopments in Mumbai have longer timelines; any slippage could affect launch schedules and cash flows.
- Rising energy costs due to war could impact project margins, though management has contingencies in place.
- Ahmedabad IC park has been slow to secure anchor clients; management expects it to start this year but no firm timeline.
Key quotes
- We have earned the right to ask for more capital. Some of that has already happened in the rights issue. Some is strategic partnership Mitsui and we have another three discussions underway with different investors who are keen to partner with us.
- The war has just started towards end of March. We didn't see any impact of it in the Q4 numbers or March numbers. The true barometer is the sustained sales and we continue to perform well.
- Our goal is to first meet the expectations or guidance that we have provided. Multiple sizable launches this year should give us the inventory to actually convert.
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