Mahindra Lifespace to boost as much as Rs 1,500 cr through rights subject to chop debt, support development, ETCFO
New Delhi, Actual property firm Mahindra Lifespace Builders plans to boost as much as Rs 1,500 crore by way of subject of shares to eligible shareholders for decreasing its debt in addition to funding additional development. The board of Mahindra Lifespaces Builders Ltd has permitted the fund increase of as much as Rs 1,500 crore by way of rights subject to the eligible shareholders of the corporate.
The proceeds might be utilised to pare down the corporate’s present debt and assist its future development plans, in accordance with a regulatory submitting on February 13.
Mahindra Lifespace is the true property and infrastructure growth enterprise of the Mahindra Group.
Not too long ago, Mahindra Lifespace reported a consolidated internet lack of Rs 22.47 crore for the quarter ended December 2024.
The corporate had posted a internet revenue of Rs 50.02 crore within the year-ago interval.
Whole earnings jumped to Rs 185.77 crore within the third quarter of this fiscal, from Rs 88.77 crore within the corresponding interval of the previous yr.
Whole bills shot as much as Rs 200.88 crore from Rs 125.12 crore a yr in the past.
Mahindra Lifespace growth footprint spans 39.44 million sq. toes (saleable space) of accomplished, ongoing and forthcoming residential initiatives throughout seven Indian cities.
It additionally has over 5,000 acres of ongoing and forthcoming initiatives at its built-in developments/industrial clusters throughout 4 places.
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