Despite Mahindra Lifespace Developers selling homes worth Rs 350 crore in a Bengaluru residential project, its shares were down at Rs 623.80 in the opening trade on April 19, amidst a broader market weakness triggered by reports of a fresh Israeli strike on Iran.
At 9:32 am, Mahindra Lifespace Developers was trading at Rs 623.80, marking a decrease of Rs 3.10, or 0.49 percent, on the BSE.
On April 18, the company announced the successful launch of Mahindra Zen, Bengaluru’s first net zero waste + energy residential project. The project witnessed significant demand, with over 150 homes booked within just two days, accounting for 65 percent of the launched inventory, totaling over Rs 350 crores in value, according to the company’s release.
Vimalendra Singh, Chief Business Officer (Residential) at Mahindra Lifespace Developers, commented, “The successful sales of Mahindra Zen reinforces our commitment to environmentally responsible development and highlights the growing preference for sustainable living among our customers in Bengaluru. This achievement underscores the increasing awareness and desire among homebuyers to contribute to a greener future.”
In other news, the company’s board is scheduled to meet on April 26 to approve the annual audited standalone and consolidated financial statements and results for the quarter and financial year ended March 31, 2024. Additionally, the board will consider a final dividend, if any, the company stated.
