Mahindra Lifespace Developers’ shares rallied sharply in trade after the company reported a strong turnaround in its Q3 results, with revenue and profitability showing a significant improvement on a year-on-year basis. The stock gained over 6% during the session, reflecting positive investor reaction to the sharp rise in earnings and margins.
For the December quarter, Mahindra Lifespace Developers reported revenue of ₹459 crore, a steep jump from ₹167 crore recorded in the corresponding quarter last year. Operating performance also improved materially, with EBITDA turning positive at ₹29.8 crore compared with an EBITDA loss of ₹25.4 crore a year ago. The robust operating recovery translated into the bottom line, as the company posted a net profit of ₹109 crore versus a net loss of ₹22.5 crore in Q3 of the previous financial year.
The stock saw strong intraday momentum following the results announcement. Shares moved between an intraday low of ₹364.70 and a high of ₹399.00, compared with the previous close of ₹367.75. The stock opened at ₹367.00, indicating steady buying interest from the start of the session. Over a longer horizon, Mahindra Lifespace Developers has traded in a 52-week range of ₹256.06 to ₹427.05, with the current rally pushing the stock closer to its annual high.
