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For the full year,net profit declined 37.61% to Rs 61.29 crore in the year ended March 2025 as against Rs 98.24 crore during the previous year ended March 2024. Sales rose 75.52% to Rs 372.27 crore in the year ended March 2025 as against Rs 212.09 crore during the previous year ended March 2024.
Mahindra NewHaven is positioned under the residential category and is designed to cater to both domestic and international markets.
Mahindra Lifespace Developers is a pan-India real estate developer. It operates its business through two verticals, namely, (i) residential projects, under the 'Mahindra Lifespaces' and 'Mahindra Happinest' brands ('Residential'); and (ii) integrated cities and industrial clusters under the 'Mahindra World City' and ‘Origins by Mahindra’ brands, respectively ('IC&IC').
On a consolidated basis, Mahindra Lifespace Developers reported net loss of Rs 22.49 crore in Q3 December 2024 as against net profit of Rs 49.98 crore in Q3 December 2023. Net sales rose 104.02% year-on-year to Rs 167.28 crore in Q3 December 2024.
The project will be pursued under the state's cluster development scheme. The redevelopment site is strategically located 15 minutes from the upcoming Versova-Bandra Sealink, providing excellent connectivity to other parts of the city.