ICICI Direct has given Buy recommendation for Mahindra Lifespace Developers with a target price of Rs. 475 in its research report issued on Jul 28, 2022

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 over 32 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 medium term guidance to achieve sales value of Rs 2500 crore by FY25. For the same, it is targeting four land transactions every year totalling ~Rs 2,000 crores worth of sales potential.

Outlook

We maintain our BUY rating on the company. We value MLDL at Rs 475/share.

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