Mahindra Lifespace Developers Limited · NSE:MAHLIFE
Mahindra Lifespace Developers — Q4 FY25 Earnings Presentation
49 slides from Mahindra Lifespace Developers's earnings presentation, Apr 26, 2025
Slide 1: Exchange intimation letter for earnings presentation
April 26, 2025 BSE Limited National Stock Exchange of India Limited Corporate Services, Exchange Plaza, Piroze Jeejeebhoy Towers, Bandra Kurla Complex, Dalal Street, Mumbai – 400 001 Bandra (East), Mumbai 400051 Re: Security BSE NSE ISIN Equity Shares 532313 MAHLIFE INE813A01018 Sub : Intimation pur
Slide 2: Investor Presentation Q4 & FY25
Investor Presentation Q4 & FY25 Artistic Impression 0
Slide 3: Disclaimer
Disclaimer This presentation and the accompanying slides ("Presentation") have been prepared by “Mahindra Lifespace Developers Limited” ("Company"), solely for the purpose of information and do not constitute any offer, recommendation or invitation to purchase or subscribe to any securities and shal
Slide 4: MLDL Strategic Update
NewHaven, Bengaluru MLDL Strategic Update RERA Reg No: PRM/KA/RERA/1251/310/PR/16025/007668 Artistic Impression 2
Slide 5: We are executing on a well-defined strategy
We are executing on a well-defined strategy Bold ambition Drive profitable growth to 8K - 10K Cr sales (GDV addition of Rs 45K Cr) 1 Well-engineered portfolio choices Depth in 3 core markets (MMR, Pune, Bengaluru) Focus on Premium / mid-premium segments 2 Robust BD engine Systematic BD process, supe
Slide 6: We have defined guardrails for our Resi business
We have defined guardrails for our Resi business Objective • Capture fair market share in each priority market • Marquee projects in key locations – enable brand • Rigorous prioritization of key micro-markets visibility and premium play Portfolio choices ❑ MMR ❑ MMR: 1,000 Cr+ ❑ Pune Geography Proje
Slide 7: We have a strong track record (past 5 years)
We have a strong track record (past 5 years) Rs Cr Resi Sales Gross Development Value 2,804 18,100 670 991 FY20 FY25 FY20 FY25 Free Cash Flow Net Debt* 832 734 610 163 FY20 FY25 FY20 FY25 5 * Net Debt expected to come down with the planned rights issue
Slide 8: We have made tremendous progress on GDV in the last 2 years
We have made tremendous progress on GDV in the last 2 years Cumulative GDV (Rs Cr) 39,000 10,200 FY17-23 FY24&25 Key Changes: • Focus on large deals and premium locations GDV Acquired: GDV Acquired: • Quicker turnaround Rs 9.25K Cr in 6 years • Early look-in to potential transactions (first Rs 22.5K
Slide 9: 70-80% of required land secured
70-80% of required land secured Rs Cr 45,000 33,850 33,850 GDV Acquired: ~Rs 39,000 Cr 2,950 2,200 Current Inventory Future Phases of Pipeline Projects Total GDV Potential as of 31st Mar 25 (A) Current Projects (B) to be launched (C) (A+B+C) • IvyLush Ph 1 & Ph 2 • Citadel Ph 3 (1050) Pre FY24 (Rs 5
Slide 10: Aggressive scale-up planned (Resi 14x in 10 years)
Aggressive scale-up planned (Resi 14x in 10 years) Rs Cr 10,000 500 • Plan to achieve Rs 10K Cr of sales by FY30 • Operating plans will be calibrated based on market 9,500 conditions 3,299 495 Residential 859 2,804 189 IC&IC 670 FY20 FY25 FY30 8
Slide 11: Our sales mix is changing; Focus on Premium Residential
Our sales mix is changing; Focus on Premium Residential 35% 71% 75% 97% 65% Premium post FY23 Premium pre FY23 17% Sustenance 25% Affordable 12% New launches 3% FY25 FY30 FY25 FY30 • Affordable: 12% in value terms in FY25 (27% in volume terms) • New launches: ~65% in FY25, expected to go down to 25%
Slide 12: High visibility in our sales plan
High visibility in our sales plan Rs Cr 9,500 Sustenance 65% 67% 75% 2,804 59% 35% 50% New Launches 35% 33% 65% 50% 41% 25% FY25 FY26 FY27 FY28 FY29 FY30 Major contributors FY25 FY26 FY27 FY28 FY29 FY30 • Ivy Lush • Navy • Bhandup Ph 1.2 • Thane Ph1.1 • Bhandup Ph2 • Thane Ph2 • Vista Ph2 • Citadel
Slide 13: Healthy progression in Resi IRR
Healthy progression in Resi IRR 1 By Vintage (23 projects) 2 By Type (23 projects) Year (no. of proj.) / Sales IRR Segment (no. of proj.) / Sales IRR Upto FY18 (6) | ~Rs 3,000 Cr 3% Affordable (6) | ~Rs 2,500 Cr 9% FY19 – FY21 (6) | ~Rs 2,500Cr 10% Premium (17) | ~Rs 13,000Cr 18% FY22 (3) | ~Rs 1000
Slide 14: We are tracking Project IRRs through rigorous mechanism
We are tracking Project IRRs through rigorous mechanism 12
Slide 15: Healthy cashflows from our planned launches
Healthy cashflows from our planned launches* Rs Cr 6,800 10,550 1,220 2,330 200 Ready to move Ongoing Projects (incl. Future Phases of Pipeline Projects to be Estimated Inventory Current Inventory) Current Projects launched Cashflow Sold Units / Estimated Sales^ 200 9980 (7030 + 2950) 2,200 22,850 3
Slide 16: We are systematically unlocking value in our IC&IC business
We are systematically unlocking value in our IC&IC business Gross area Net Leasable area Net Leased area Available for lease IC&IC Locations (acres) (acres) (acres) net (acres) (A) (B) (C) (D = B-C) MWC Jaipur 2,946 1,917 1,117 800 MWC Chennai 1,594 1,216 1,112 104* Origins Chennai 1 307 229 161 68
Slide 17: Focused efforts to strengthen our Balance Sheet
Focused efforts to strengthen our Balance Sheet Net Debt / Average Equity 0.39 • Net debt to Equity maintained under 0.5x over 0.34 the last 5 years • Rights issue proceeds (Rs 1500 Cr) to be used for – Long term debt repayment – Future acquisitions • Post the rights issue, net-worth expected to be
Slide 18: Our customers and employees are excited for us
Our customers and employees are excited for us Significant shift in our customer journey Employee engagement Moving up the curve on premiumization • Work Hard, play Harder (Mahindra Premier • Superior & pragmatic design (premium fixtures) League 2.0: 400+ associates) • Differentiated amenities (Biop
Slide 19: MLDL Financials
IvyLush, Pune MLDL Financials RERA Reg No: P52100055162, P52100078592, P52100055161 Artist’s Impression 17
Slide 20: Financial – Highlights
Financial – Highlights Rs Cr IC&IC Leasing Sales Residential GDV Revenues FY25 – Rs 2804 Cr FY25 – Rs 495 Cr FY25 – Rs 18100 Cr Q4 FY25 - Rs 1055 Cr Q4 FY25 - Rs 211 Cr Q4 FY25 - Rs 3650 Cr (FY24 – Rs 2328 Cr (FY24 – Rs 470 Cr (FY24 – Rs 4400 Cr Q4 FY24 – Rs 1086 Cr) Q4 FY24 – Rs 123 Cr) Q4 FY24– Rs
Slide 21: Financials - Segment performance
Financials - Segment performance Rs Cr FY25 FY24 SEGMENT RESULTS Residential IC&IC Total Residential IC&IC Total Area Sold (msft) / Land Leased (acres) 3.18 msft 85.1 acres - 2.47 msft 119.4 acres - Sales / IC&IC revenues 2804 495 3299 2328 470 2798 Income from Operations 826 495 1321 472 470 942 Ot
Slide 22: Financials - Consolidated Profit & Loss A/C
Financials - Consolidated Profit & Loss A/C Rs Cr PROFIT & LOSS STATEMENT FY25 FY24 Q4 FY25 Q4 FY24 Income from Operations 372 212 9 14 Other Income 92 67 46 40 Total Revenues 464 279 55 55 Operating Expenses 316 192 (1) 13 Employee Remuneration & Benefits 112 84 26 18 Finance Costs 19 7 2 3 Depreci
Slide 23: Financials - Consolidated Balance Sheet
Financials - Consolidated Balance Sheet Rs Cr EQUITY & LIABILITIES 31st Mar 25 31st Mar 24 ASSETS 31st Mar 25 31st Mar 24 Equity Share Capital 155 155 Property, Plant and Equipment 18 20 Other Equity 1,741 1,718 Right of Use Assets 7 4 Net Worth 1,896 1,873 Capital Work-In-Progress 5 5 Non-Controlli
Slide 24: MLDL Overview
Vista, Mumbai MLDL Overview RERA Reg No: P51800079147 Artistic Impression 22
Slide 25: The Mahindra Group
The Mahindra Group $ $23B+ 260,000+ 100+ 20+ GROUP TURNOVER EMPLOYEES COUNTRIES INDUSTRIES India’s number 1 SUV manufacturer by revenue Pioneering IC&IC business and residential market share; strong pipeline of EV products developments World’s largest tractor company by volume Number 1 timeshare com
Slide 26: Mahindra Group created significant value in the last two decades; MLDL a key priority
Mahindra Group created significant value in the last two decades; MLDL a key priority for the Group +94 Market cap of M&M Limited +94 (Rs K Cr) Mahindra Lifespaces is identified as a Growth Gem by Mahindra Group 332 +45 Mahindra Group fully committed to +57 238 support MLDL’s growth aspirations +42
Slide 27: MLDL at a Glance
MLDL at a Glance Rs 4,639 Cr Market Cap as on 31st Mar’25 Residential Business IC&IC Business 50+ projects since 1996 (47.56 msft); 2 World Cities, 3 Industrial parks; 20k+ satisfied customers Industrial Developer since 1994 Strategic partnerships with Actis and Strategic partnerships with TIIDCO, H
Slide 28: Key Industry drivers
Key Industry drivers Increasing urbanization… …Household income… Low Lower Mid Upper Mid High 3% 7% 40% 21% 31% 44% Lower Mid and 33% Upper Mid Segment to increase from 34% ~54% to ~78% 43% 15% CY11 CY30 CY18 CY30F Avg. HH Income/ per cap ~7.5 L / 1.4 L ~15 L / 3.5 L …& Regulatory reforms… …Have led
Slide 29: Stock performance and drivers
Stock performance and drivers Stock generated 36% CAGR over the past 5 years Shareholding Pattern (%) MAHLIFE BSE SENSEX BSE REALTY Mahindra Group 19.2% MFs 9.6% 51.2% 4.9x 4.7x FIIs 20.1% 2.6x Others 31-Mar-20 31-Mar-21 31-Mar-22 31-Mar-23 31-Mar-24 31-Mar-25 Key Drivers Key Institutional Investors
Slide 30: Accolades
Accolades We have been recognized in many areas i.e., Home-Buying Experience, and Technology-led Campaigns Construction Excellence Sustainability Real estate Company of the year – West Carbon Disclosure IGBC Green Homes V2 Decarbonization Project 2022, 2023 & 'Platinum' rating - Mahindra Excellence
Slide 31: MLDL Residential
Green Estates, Chennai MLDL Residential RERA Reg No: P51700076963 Artist’s Impression 29
Slide 32: Residential – Structure overview
Residential – Structure overview M&M 51% MLDL 100% 73.7% 51% 89% MBDL MHPL MHDL MWCDL* Lakewoods Bloomdale Luminare Happinest Palghar Happinest MWCC Nestalgia Happinest Kalyan Aqualily Lakefront Estates 26.3% 49% 11% Actis HDFC Capital TIDCO Note: Includes assets owning SPVs only. Shareholding %ages
Slide 33: Residential – Q4 & FY25 Operational highlights
Residential – Q4 & FY25 Operational highlights 1.03 msft 3.18 msft Sales Volume 0.90 msft Sales Volume 2.26 msft (RERA Carpet Area: Launches (RERA Carpet Area: Launches 0.70 msft) 2.32 msft) 0.56 msft 0.56 msft Rs 1055 Cr Q4 1.55 msft Rs 2,804 Cr 1.74 msft Completions FY25 Completions Sales Value FY
Slide 34: GDV additions of Rs 18,100 Cr for FY25
GDV additions of Rs 18,100 Cr for FY25 Borivali West, Electronic City, Bhandup, Near Airport, Lokhandwala, Mahalaxmi, Location Mumbai Bengaluru Mumbai Bengaluru Mumbai Mumbai Acreage 3.7 2.4 36.9 8.2 2.22 1.71 Date of Jul’24 Jul’24 Nov’24 Jan’25 Feb’25 Feb’25 Acquisition GDV (Rs Cr) ~1,800 250 ~12,4
Slide 35: Residential - Quarterly trend
Residential - Quarterly trend Pre-Sales Value (Rs. Cr) Pre-Sales Volume (msft) Collections (Rs. Cr) Work Done (Rs. Cr) 540 1,086 459 466 1,019 1,055 412 366 0.85 1.17 397 1.03 188 182 334 117 131 74 0.53 0.45 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Q4 FY24 Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 Launches (m
Slide 36: Residential - Scale Of operations
Residential - Scale Of operations MLDL is pioneering development of green homes and thoughtfully designed living spaces Ongoing Projects Development Footprint^ Area Total footprint A1 sold 7.24 msft A for Ongoing projects 12.71 msft Current Pipeline projects (excl. A2 inventory 2.73 msft B Strategic
Slide 37: Residential – Portfolio summary (1/2)
Residential – Portfolio summary (1/2) Ongoing Projects Area Sales Current Inventory Project Future Phases of Value of Total Project Sold Value Inventory Value Completion Ongoing Projects Future Phases Development Name (msft) (A) (Rs Cr) (msft) (B) (Rs Cr) (%) (msft) (B) (Rs Cr) (msft) (A+B+C) Vista
Slide 38: Residential – Portfolio summary (2/2)
Residential – Portfolio summary (2/2) Pipeline Projects to be launched Future Estimated GDV Project Segment Development potential Name (msft) (Rs Cr) Navrat, Bengaluru 0.95 1000 Hopefarm, Bengaluru 1.36 1800 Whitefield , Bengaluru 0.22 250 NewHaven, Bengaluru 0.24 250 Saibaba (Borivali), Mumbai 0.92
Slide 39: MLDL IC & IC
Mahindra World City, Jaipur MLDL IC & IC 37 Actual Image
Slide 40: IC & IC - Structure overview
IC & IC - Structure overview M&M 51% MLDL 100% 74% 89% 100% KTL MWCJL* MWCDL MIPCL MIPPL* 60% Origins Pune MWC Jaipur MWC Chennai Origins Chennai Origins Ahmedabad 26% 11% 40% RIICO TIDCO Sumitomo Note: Overview includes assets owning SPVs only. Shareholding %ages are rounded to nearest %age and bas
Slide 41: IC & IC - Scale of operations
IC & IC - Scale of operations Pioneer in this business with pan India presence across Golden Quadrilateral and Delhi-Mumbai Industrial Corridor Integrated Cities Industrial Clusters MWC MWC Origins Origins Chennai Jaipur Chennai Ahmedabad Distance Distance 60 Km 20 Km 35 Km 75 Km to City to City Par
Slide 42: IC & IC – Leased area
IC & IC – Leased area MWC, Chennai Origins, Chennai Leasable Area*: 1216 acres Unleased Inventory: 104 acres# 307 Gross Area 229 Leasable Area* 1,112 Leased Area 50 161 46 104 8 MWC Residential OBL MWC Commercial Leased Unleased Acres MWC, Jaipur Origins, Ahmedabad Leasable Area*: 1917 acres Unlease
Slide 43: IC & IC – Key metrics
IC & IC – Key metrics Leased Area (Acres) Park O&M, MWC Chennai (Rs Cr) 157.9 110.6 74.3 111.1 23.9 23.9 25.2 29.2 85.1 23.4 23.3 22.1 4.8 17.4 16.7 18.3 17.7 17.9 16.4 39.6 46.4 95 71.4 53.8 15.4 76.1 15.1 23.3 28.8 26.6 1.2 2.2 15.6 12.2 5.8 FY20* FY21* FY22 FY23 FY24 FY25 FY20 FY21 FY22 FY23 FY24
Slide 44: IC & IC - Marquee clientele
IC & IC - Marquee clientele MWC Chennai MWC Jaipur 92 customers (66 operational) 154 customers (95 operational) Central Avenue DTA Zone Origins Chennai Origins Ahmedabad 16 customers (6 operational) NH Access Planned Planned Construction Construction 42
Slide 45: MLDL Leadership
Zen, Bengaluru MLDL Leadership RERA Reg No: PRM/KA/RERA/1251/310/PR/210324/006712 Artistic Impression 43
Slide 46: MLDL Leadership | Directors
MLDL Leadership | Directors Mr. Ameet Hariani Dr. Anish Shah Mr. Anuj Puri Ms. Amrita Chowdhury Chairman and Non-Executive, Non-Executive, Non-Executive, Non-Executive, Non-Independent Director Independent Director Independent Director Independent Director • Chartered Accountant and Fellow of the •
Slide 47: MLDL Leadership | Management
MLDL Leadership | Management Avinash Bapat Abhimanyu Mathur Jitesh Donga Chief Financial Chief Marketing Chief of Design Officer Officer Ameet Hariani Non-Executive Chairman Parveen Mahtani Sudharshan KR Tanmoy Roy Chief Legal Officer Chief Project Chief Human Officer Resources Officer Vikram Goel V
Slide 48: Thank You
Thank You Investor Relations Contact Mr. Sriram Kumar Vice President – FP&A, Costing & IR Email: KUMAR.SRIRAM@mahindra.com Mahindra Lifespace Developers Limited CIN L45200MH1999PLC118949 5th Floor, Mahindra Towers, Worli, Mumbai - 400 018. Tel: 022 6747 8600/ 6747 8601 | Fax: 022 2497 5084 For more
Slide 49: Glossary
GLOSSARY Classification of projects is as under: a. Completed: projects where b. Ongoing: projects where (i) all c. Future Phases: projects in respect of d. Pipeline Projects: land in which construction has been title or development rights, or which (i) all title or development rights any of the Com
Mahindra Lifespace Developers — Q4 FY25 Earnings Presentation on 6ix