Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development arm of the Mahindra Group, announced its financial performance for the quarter and nine months ended December 31, 2025. The company follows the completion-of-contract method for revenue recognition under Ind AS 115.
During Q3 FY26, consolidated sales from residential and industrial clusters and cities (IC&IC) stood at ₹707 crore. Residential pre-sales rose sharply to ₹572 crore, compared with ₹334 crore in the same quarter last year, supported by sales of 0.60 million sq. ft. of saleable area. The company also added gross development value (GDV) of ₹1,010 crore during the quarter.
Revenues from the IC&IC business increased to ₹134 crore from ₹70 crore a year ago, with leasing of 17.9 acres during the quarter. Consolidated profit after tax (after non-controlling interest) turned positive at ₹109 crore, compared with a loss of ₹23 crore in Q3 FY25.
For the nine-month period ended December 2025, consolidated sales reached ₹2,125 crore. Residential pre-sales were largely stable at ₹1,773 crore, with 2.35 million sq. ft. of saleable area sold. GDV additions in 9M FY26 amounted to ₹10,560 crore, building on ₹18,100 crore added in FY25. IC&IC revenues rose to ₹352 crore from ₹284 crore last year, with total leasing of 53.5 acres. Consolidated PAT for 9M FY26 stood at ₹208 crore, reversing a loss of ₹24 crore in the previous year.
The balance sheet remained strong, with a net debt-to-equity ratio of -0.12, reflecting a cash surplus position. Residential collections for 9M FY26 were ₹1,472 crore, higher than ₹1,365 crore in the same period last year.
Commenting on the results, Amit Kumar Sinha Managing Director & CEO, Mahindra Lifespace Developers Ltd., said residential project completions drove profitability, while demand for quality industrial plots remained healthy. He added that the company has a robust launch pipeline and recently introduced Phase 2A of Origins by Mahindra in Chennai.
