Sharekhan has given Buy recommendation for Mahindra Lifespace Developers with a target price of Rs. 340 in its research report issued on Mar 02, 2022

Sharekhan’s research report on Mahindra Lifespace Developers

Mahindra Lifespace Developers Limited (MLDL) would be receiving 9.24 acres land at Kandivali on favourable payment terms. Gross development value of the project is conservatively pegged at Rs. 2,500 crore to be realised over 5-7 years. It would be launching 2.5-3 msf projects with GDV of Rs. 2,000 crore by H1FY2023. Project pipeline for FY2024 looks strong with launches of new projects and phases of existing projects. MLDL has 590 acres SEZ land in MWC, Jaipur, which can benefit from any favourable changes made by the government on SEZ policy.

Outlook

We retain Buy with an unchanged price target of Rs. 340, owing to its strong growth outlook.

More Info

At 12:31 hrs Mahindra Lifespace Developers was quoting at Rs 292.00, down Rs 3.05, or 1.03 percent.

It has touched an intraday high of Rs 302.00 and an intraday low of Rs 288.45.

It was trading with volumes of 4,589 shares, compared to its thirty day average of 29,904 shares, a decrease of -84.65 percent.

In the previous trading session, the share closed up 1.50 percent or Rs 4.35 at Rs 295.05.

The share touched its 52-week high Rs 348.00 and 52-week low Rs 152.10 on 11 February, 2022 and 19 April, 2021, respectively.

Currently, it is trading 16.09 percent below its 52-week high and 91.98 percent above its 52-week low.

Market capitalisation stands at Rs 4,511.76 crore.

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