Mahindra Lifespace Developers Q2 FY27 Results: Consolidated Net Profit ₹16.34 Crore on Total Income of ₹104 Crore

Summary

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Consolidated other income of ₹72 crore is 69.2% of total income, while revenue from operations of ₹32 crore is the smaller part. Revenue from operations rose 84.6% YoY from a low base, but it fell 96.6% QoQ from ₹962 crore in the prior quarter. The filing says revenue is recognised under the Completed Contracts Method under Ind AS 115, and that quarterly and half-year results are not representative of current operations.

The filing lists several one-off items in this quarter: a profit of ₹26.94 crore on the Ample Parks disposal, the sale of Ample Parks investments for consideration of ₹76.52 crore, and a ₹25 crore cost-to-complete provision reversal disclosed as other income. Consolidated share of profit of joint ventures and associates was ₹42.89 crore.

Consolidated profit before tax of ₹50 crore fell to a net profit of ₹16 crore after tax of ₹33 crore, a tax expense larger than the year-earlier total of ₹3 crore. The tax rate in the quarter is therefore high relative to profit before tax, and the filing gives no reason for it. Finance costs of ₹5 crore are 4.8% of total income.

The filing estimates the Labour Codes impact on retirement benefits at ₹4.93 crore consolidated, presented as an exceptional item in the year ended 31 Mar 2026.

Figures are in ₹ crore; YoY compares with Q2 FY26 and QoQ with Q1 FY27. Click Total income or Net profit to see the rows behind them.

Standalone other income of ₹231 crore is 93.5% of total income of ₹247 crore, so the quarter's standalone profit of ₹127 crore rests mainly on income other than revenue from operations of ₹16 crore. Revenue from operations rose 31.4% YoY, slower than other income, which rose 413.1%.

The standalone results include a ₹19 crore cost-to-complete provision reversal, recognised as income after occupancy certificates were received for projects, and a profit of ₹1.56 crore on the Ample Parks disposal. Profit before tax of ₹165 crore and tax of ₹37 crore give the net profit of ₹127 crore, against a standalone loss a year earlier.

Standalone net profit of ₹127 crore is well above consolidated net profit of ₹16 crore for the same quarter. The filing does not explain this gap in the quarter, though it notes that consolidated results include the share of joint venture profit and other items.

Inference

The results show that a large share of the quarter's income came from other income, including one-off items such as the Ample Parks disposal and provision reversals, while revenue from operations is small against the prior quarter under the Completed Contracts Method. The effect on the company's capital, ownership and per-share earnings in later quarters depends on project completions and handovers, which the filing does not give. The filing does not state a dividend or record date, the share count used for EPS, the reason for the rise in standalone other income, or the timing of revenue under the completed contracts method.

Reference: Original filing (PDF)