BREAKING NEWS : Mahindra Lifespace sells homes worth Rs 350 crore in 2 days in Bengaluru project, stock still down

BREAKING NEWS

tvrfinnews.com

BREAKING NEWS : Mahindra Lifespace Developers shares were down at Rs 623.80 in the opening trade on April 19 despite the company selling homes worth Rs 350 crore in a Bengaluru residential project amid a broader weakness in the market following reports of fresh Israel strike on Iran.

At 9.32am, Mahindra Lifespace Developers was quoting at Rs 623.80, down Rs 3.10, or 0.49 percent, on the BSE.BREAKING NEWS

On April 18, the company announced the successful launch of Bengaluru’s first net zero waste + energy residential project, Mahindra Zen.

The project witnessed an outstanding response from homebuyers, with over 150 homes booked within just two days, which is  65 percent of the launched inventory, totalling over Rs 350 crores in value, the company said in its release.BREAKING NEWS

“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,” said Vimalendra Singh, Chief Business Officer (Residential), Mahindra Lifespace Developers. “This achievement highlights the increasing awareness and desire among homebuyers to contribute to a greener future.”

The project witnessed an outstanding response from homebuyers, with over 150 homes booked within just two days, which is  65 percent of the launched inventory, totalling over Rs 350 crores in value, the company said in its release.BREAKING NEWS

Catch all market action in our live blog

The company ‘s board will meet to on April 26 to approve the annual audited standalone and consolidated financial statements and results of the company for the quarter and financial year ended March 31, 2024. The board will also consider a final dividend, if any, the company said

The project witnessed an outstanding response from homebuyers, with over 150 homes booked within just two days, which is  65 percent of the launched inventory, totalling over Rs 350 crores in value, the company said in its release.BREAKING NEWS

  • Mahindra Lifespace did well selling a large number of homes (worth Rs 350 crore) in their new Bengaluru project very quickly. This indicates strong demand for their offering, especially considering it’s the city’s first net zero waste + energy residential project.
  • However, despite this positive sales performance, the company’s stock price is still down.
  • The project witnessed an outstanding response from homebuyers, with over 150 homes booked within just two days, which is  65 percent of the launched inventory, totalling over Rs 350 crores in value, the company said in its release.BREAKING NEWS

There could be a couple of reasons for this:

  • Overall market conditions: The broader stock market might be down due to unrelated reasons, overshadowing Mahindra Lifespace’s positive news. Recent events like the tensions between Iran and Israel could be impacting investor sentiment.
  • Investor expectations: Investors might be looking for more information on the project’s profitability or the company’s future plans before their stock price reacts positively.
  • The project witnessed an outstanding response from homebuyers, with over 150 homes booked within just two days, which is  65 percent of the launched inventory, totalling over Rs 350 crores in value, the company said in its release.BREAKING NEWS

It’s important to consider both the sales success and the stock price movement to get a complete picture.

The project witnessed an outstanding response from homebuyers, with over 150 homes booked within just two days, which is  65 percent of the launched inventory, totalling over Rs 350 crores in value, the company said in its release.BREAKING NEWS

tvrfinnews.com

Leave a Reply

Your email address will not be published. Required fields are marked *