Dear stakeholders,
It is my privilege to present to you the integrated annual report of
mahindra lifespaces for fy 2024-25.
Since the covid-19 pandemic, there has been a clear trend toward
premiumization in all sectors, and as applicable to this sector, a marked increase in
demand for larger homes with amenities. As per analysts, this upcycle in demand was driven
by pent up demand and favorable home loan rates. Robust economic growth is further fueling
sustained demand in the housing sector. The main determinant for continued demand will be
job creation in the economy.
Coming to our company, i am glad to note that this year's performance
reflects our unwavering commitment to progress as we shape our journey towards 5x growth.
This year has been exceptional - characterized by strategic expansion, customer-centric
design, disciplined execution, and reaffirmed our commitment to contributing to india's
growth journey. Our performance across residential and industrial segments reflects the
strength of our purpose- led business model. Financial prudence remains core to our
strategy, guided by clear return metrics and a strong focus on capital allocation.
The year in retrospect
Fy 2024-25 was a pivotal year, focused on both
growth and consolidation. We achieved our highest-ever gross development value (gdv) of ^
18,100 crore - a fourfold increase from fy 2023-24 (^ 4,400 crore). This remarkable growth
was driven by focused land acquisition across key mid-premium and premium markets in
mumbai, pune, and bengaluru.
We ended the year with our highest-ever consolidated operating cash
flow of ^832 crore (up 30% yoy), while maintaining a stable net debt-to-equity ratio of
0.39.
Future outlook
We have built a strong residential pipeline that positions us for
sustained long-term growth. Our new brand positioning "home of positive energy"
focuses on how our homes foster wellness, community, and sustainability. This refreshed
brand has garnered positive customer response.
In our integrated cities and industrial clusters (ic&ic) business,
we are aligning our efforts with the government of india's "make in india"
initiative. We remain focused on unlocking value across 1,600+ acres of available leasable
area, from which, over a period, we expect to generate cumulative revenues of ^5,000-6,000
crore.
We remain committed to our 5x growth ambition—aiming to achieve
^10,000 crore in annual pre-sales within the next five years. To future-proof the
organization, we are actively investing in digital capabilities, leadership development,
brand positioning and sustainability—guided by the mahindra group's "rise"
philosophy to create shared value for all stakeholders.
The group has supported our company in many ways, including committing
resources by way of a rights issue. This issue is underway, as of the date of writing of
this message.
Our steadfastness
Fy 2024-25 reaffirmed that when strategy meets purpose, impact follows.
While external conditions may continue to evolve, our focus on excellence, transparency,
and longterm value remains unwavering.
On behalf of the board, i express my sincere gratitude to our
shareholders, customers, employees, government, stakeholders, and joint venture partners.
Your continued support has been instrumental in our success. We remain deeply committed to
delivering growth that is meaningful, responsible, and profitable in the years ahead.
| Warm regards, |
| Ameet hariani |
| Chairman |