Mahindra Lifespaces Posts Record FY26 Pre-Sales of ₹3,405 Cr

Mahindra Lifespace Developers Ltd closed FY26 on a high note. Its sales bookings rose 21 per cent to Rs 3,405 crore last fiscal, up from Rs 2,804 crore in the 2024-25 fiscal, on better demand for its residential properties. The growth came even as most listed real estate developers performed well during the last fiscal in terms of sales bookings, despite an overall slowdown in the market because of a sharp rise in prices post pandemic.

Customer collections kept pace with bookings. In its housing business, fund collection from customers increased to Rs 2,107 crore last fiscal from Rs 1,831 crore in 2024-25. Profitability also saw a sharp jump for the year. Mahindra Lifespace reported a 6 per cent increase in its consolidated net profit to Rs 90.12 crore for the quarter ended March 2026, up from Rs 85.09 crore in the year-ago period. For the full year, the numbers were even stronger: the company's net profit rose to Rs 298.17 crore from Rs 61.35 crore in the preceding fiscal, while total income nearly tripled to Rs 1,265.95 crore from Rs 463.87 crore in FY25.

Looking at the combined business, Mahindra Lifespace Developers achieved a 25% growth in sales across its residential and industrial business segments, delivering significant profit growth, healthy operating cash flows, and gross development value additions of Rs 18,060 crore. Consolidated sales across residential and industrial businesses reached Rs 4,118 crore, with the Rs 18,060 crore GDV additions including a Rs 7,500 crore unlocking at Thane. The balance sheet remains comfortably placed, with the company closing the fiscal year with a net debt to equity ratio of -0.27, indicating a comfortable cash surplus. The Board has also rewarded shareholders, with a proposed final dividend of Rs 3.5 per share reflecting strong operational momentum and confidence in future growth.

Core markets did the heavy lifting. The company remains anchored in MMR, Pune and Bengaluru, and executives have flagged an aggressive expansion plan around these micro-markets. The company, which reported pre-sales of around Rs 3,405 crore in FY26, is targeting aggressive growth through redevelopment projects, joint ventures and joint development agreements, while remaining focused on its core markets of Mumbai Metropolitan Region, Pune, and Bengaluru. Chief business officer Vimalendra Singh explained the scale of ambition: "We have approximately Rs 45,000 crore of GDV that we intend to launch over the next 18-24 months. It is an aggressive target." On why Mumbai continues to matter despite land scarcity, Singh noted, "Mumbai is starved of land. The government is, therefore, focused on creating connectivity so that new micro-markets can emerge," adding that the company prefers locations with metro stations, railway connectivity or major highways nearby.

The year's pre-sales momentum was backed by a steady stream of launches. Residential pre-sales for FY26 reached Rs 3,405 crore across a saleable area of 3.53 million sq ft, supported by successful project launches including Blossom, Marina64, and NewHaven. Analysts tracking the stock also pointed to a broader launch calendar, noting that the company launched Rs 74 billion of GDV across projects during the year, including New Haven in Bengaluru, Marina64 in MMR, Lakewoods in Chennai, Blossom in Bengaluru, and Rainforest in MMR. Today, the company's development footprint spans 53.65 million sq ft of saleable area across completed, ongoing and forthcoming residential projects in seven Indian cities.

Mahindra Lifespaces isn't slowing down heading into FY27. Brokerage estimates cited a fresh commitment from management: the company has set an ambitious target of launching projects worth Rs 10,000 crore in FY27, signalling a confident growth outlook. The company is also actively diversifying its offering upward, having recently returned to South Mumbai with a large-format luxury tower — a sign of its shift toward higher-margin premium housing alongside its established mid-income Happinest portfolio.

For homebuyers, the FY26 numbers matter beyond the headline growth rate. A cash-surplus balance sheet, rising collections, and a full launch pipeline across MMR, Pune and Bengaluru suggest Mahindra Lifespaces has the financial muscle to deliver on construction timelines and fund upcoming projects without relying heavily on debt. With a large GDV pipeline already lined up for the next two years, buyers in these core cities can expect a steady flow of new project launches from the developer in the near term.