ICICI Direct has given Buy recommendation for Mahindra Lifespace Developers with a target price of Rs. 335 in its research report issued on Feb 07, 2021

ICICI Direct’s research report on Mahindra Lifespace Developers

Mahindra Lifespace Developers (MLD) is the real estate and infrastructure development business of the Mahindra Group. It has 28.2 msf of completed, ongoing and forthcoming residential projects across seven cities and over 5,000 acres of ongoing and forthcoming projects under development at its integrated developments / industrial clusters across four locations. The company has outlined five years plans wherein it aims to achieve the sales value of Rs 2500 crore by FY25. For the same, it is targeting four land transactions every year totalling ~Rs 2,000 crore worth of sales potential

Outlook

We maintain our BUY rating on the company We value MLD at Rs 335/share.

More Info on Trent

At 14:45 hrs Mahindra Lifespace Developers was quoting at Rs 256.00, down Rs 6.75, or 2.57 percent.

It has touched an intraday high of Rs 263.10 and an intraday low of Rs 252.70.

It was trading with volumes of 2,880 shares, compared to its thirty day average of 14,039 shares, a decrease of -79.49 percent.

In the previous trading session, the share closed down 0.66 percent or Rs 1.75 at Rs 262.75.

The share touched its 52-week high Rs 299.30 and 52-week low Rs 152.10 on 20 October, 2021 and 19 April, 2021, respectively.

Currently, it is trading 14.47 percent below its 52-week high and 68.31 percent above its 52-week low.

Market capitalisation stands at Rs 3,955.51 crore.

 

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