ICICI Direct has given Buy recommendation for Mahindra Lifespace Developers with a target price of Rs. 940 in its research report issued on Jul 30, 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 27.4 million square feet (msf) of completed, ongoing and forthcoming residential projects across seven cities and over 5,000 acres of ongoing, forthcoming projects under development at its integrated development/industrial clusters across four locations. The company has outlined five years plans wherein it aims 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 crore worth of sales potential
We maintain our BUY rating on the company We value MLD at Rs 940 share.