# Mahindra Lifespace Developers share price today (Mahindra Lifespace Developers Ltd, NSE: MAHLIFE)

> Mahindra Lifespace Developers share price today: ₹314.15 at the NSE close on 4 November 2026, down 21.0% in a year. Mahindra Lifespace Developers (NSE: MAHLIFE) is worth ₹6,697 crore, trades at a P/E of 23.9 and has closed between ₹306.65 and ₹419.40 over the past 52 weeks. > Mahindra Lifespace Developers Ltd's earnings have grown faster than its share price. Earnings per share grew +386.8% in a year while the price moved −21.0%. MAHLIFE · Construction & Contracting · data as of 4 November 2026. Page: https://www.sectoralpha.in/stocks/mahindra-lifespace-developers-ltd

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## Key numbers

- Business trend: Mixed, from fewer quarters than usual
- Price: ₹314.15 (−21.0% in a year)
- P/E: 23.9× (lower than 81% of the last 11 years)
- Revenue (Sep 2026): ₹32.0 Cr (+77.8% on a year ago)
- Profit (Sep 2026): ₹16.0 Cr (−66.7% on a year ago)
- Operating margin: −170.0% (+129.0 points on a year ago)
- ROCE: 8%, FY26
- ROIC: 0.1%, against a 12.0% cost of capital: −11.9 points

The main question: profits are rising, but only −382% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. ## What is the Mahindra Lifespace Developers share price today? Mahindra Lifespace Developers Ltd's share price was ₹314.15 at the close on 4 November 2026. It has been falling for 1 week. That is 12.4% below its average price over the last 200 trading days. In the last 52 weeks it traded between ₹307 and ₹419, and at that close it sat 7% of the way up from that low. Over the past 13 weeks it has done worse than the NIFTY 500, and it has been behind for 5 weeks running. Over the last 11 years the share price moved +158% while the NIFTY 500 moved +251%, so it is behind the index over that whole period. It was last ahead over 13 weeks in the week of 1 October 2026. The chart above shows the 13-week comparison for every week. This page treats a rise as over when the price closes below its 200-day average on two Fridays in a row. ## What changed at Mahindra Lifespace Developers this quarter? Three changes stood out: profit fell in the September 2026 quarter, operating margin up 129 points on a year earlier and foreign funds (FIIs) cut their stake for 7 quarters in a row. 1. Profit fell in the September 2026 quarter Profit was ₹16 crore, -66.7% on a year earlier (₹48 crore), after 6 quarters of growth. 2. Operating margin up 129 points on a year earlier -170% in the September 2026 quarter, from -299%. Why: Margin improved because the company released about ₹25 crore it had set aside earlier into income outside normal sales, after a six month wait from handover. Next results: check whether collections speed up from stacked billing milestones. From the earnings call on 22 Oct 2026. 3. Foreign funds (FIIs) cut their stake for 7 quarters in a row From 10% to 7.4% of the company by the September 2026 quarter. ## What are Mahindra Lifespace Developers' latest quarterly results? For July to September 2026 (the quarter ended 30 September 2026), Mahindra Lifespace Developers reported revenue of ₹32.0 crore, up 77.8% from ₹18.0 crore a year earlier, and a profit of ₹16.0 crore, down 66.7% from ₹48.0 crore. ### Mahindra Lifespace Developers results: July to September 2026 against a year earlier

| Measure | July to September 2026 | July to September 2025 | Change |
| --- | --- | --- | --- |
| Revenue | ₹32.0 crore | ₹18.0 crore | +77.8% |
| Profit | ₹16.0 crore | ₹48.0 crore | −66.7% |
| Earnings per share | ₹0.77 | ₹2.25 | −65.8% |
| Operating margin | −170.0% | −299.0% | +129.0 points |

The next results, for October to December 2026, are due by 14 February 2027: listed companies must publish quarterly results within 45 days of the quarter's end (60 days for the January to March quarter). Mahindra Lifespace Developers' management discussed these results on a call held on 22 October 2026; what it said is further down this page. (From the company's reported quarterly results (quarter ended 30 September 2026). Revenue and profit in ₹ crore.)

## What is the Mahindra Lifespace Developers share price history? Mahindra Lifespace Developers closed at ₹314.15 on 4 November 2026, down 21.0% from ₹397.45 a year earlier (7 November 2025) and up 20.1% over five years. Its highest weekly close since March 2016 was ₹611.84 on 26 April 2024. ### Mahindra Lifespace Developers share price: then and now

| When | Close | Change to 4 Nov 2026 |
| --- | --- | --- |
| 1 week ago · 30 Oct 2026 | ₹306.65 | +2.4% |
| 1 month ago · 1 Oct 2026 | ₹351.15 | −10.5% |
| 6 months ago · 8 May 2026 | ₹334.70 | −6.1% |
| 1 year ago · 7 Nov 2025 | ₹397.45 | −21.0% |
| 3 years ago · 3 Nov 2023 | ₹450.42 | −30.3% |
| 5 years ago · 4 Nov 2021 | ₹261.66 | +20.1% |
| 10 years ago · 4 Nov 2016 | ₹116.31 | +170.1% |
| Earliest weekly close in our records · 11 Mar 2016 | ₹121.79 | +157.9% |
| Highest weekly close since March 2016 · 26 Apr 2024 | ₹611.84 | −48.7% |
| Lowest weekly close since March 2016 · 8 May 2020 | ₹54.13 | +480.4% |
| 52-week high (weekly close) · 28 Nov 2025 | ₹419.40 | −25.1% |
| 52-week low (weekly close) · 30 Oct 2026 | ₹306.65 | +2.4% |

Weekly closing prices, adjusted for splits and bonuses so every price is on today’s share count. Each change is the move from that price to the 4 Nov 2026 close. A day's intraday high or low can go beyond these weekly closes. (562 weekly closes from 11 March 2016 to 4 November 2026.)

## What is the latest news on Mahindra Lifespace Developers? 4 Nov 2026: Mahindra Lifespace Developers closed at ₹314.15, up 2.4% on the week and down 10.5% on the month. 22 Oct 2026: Mahindra Lifespace Developers held its results call for July to September 2026. Management guided: FY27 residential pre-sales ₹4,500-5,000 crore aiming for midpoint about ₹4,750 crore. ### Earlier

- Results for July to September 2026: Revenue up 77.8% and profit down 66.7% on a year earlier. - Our read, 22 Aug 2026: FY26 profit reached 298 Cr on major project delivery milestones, supporting pre-sales expansion toward the 4,500 to 5,000 Cr FY27 guidance. A net cash surplus of 1,100 Cr and net debt to equity of -0.2 provide balance sheet resilience and acquisition flexibility without debt dilution. - 3 Jul 2026: ex-date for a dividend of ₹3.50 a share. ### Our read of the business

FY26 profit reached 298 Cr on major project delivery milestones, supporting pre-sales expansion toward the 4,500 to 5,000 Cr FY27 guidance. A net cash surplus of 1,100 Cr and net debt to equity of -0.2 provide balance sheet resilience and acquisition flexibility without debt dilution. Latest quarter: Rainforest Pre-Sales Traction and Completion Deliveries Drive Revenue Surge. (Our read after the latest results, written 22 August 2026.)

## What dividend does Mahindra Lifespace Developers pay? Mahindra Lifespace Developers paid ₹3.50 a share in regular dividends in the 12 months to 5 November 2026 (1 payment), a yield of 1.11% at the ₹314.15 close on 4 November 2026. The last was a dividend of ₹3.50 a share, ex-date 3 July 2026. ### Mahindra Lifespace Developers dividends since 1 April 2021

| Ex-date | Dividend per share | Type |
| --- | --- | --- |
| 3 Jul 2026 | ₹3.50 | Dividend |
| 18 Jul 2025 | ₹2.80 | Dividend |
| 12 Jul 2024 | ₹2.65 | Dividend |
| 19 Jul 2023 | ₹2.30 | Dividend |
| 19 Jul 2022 | ₹2 | Dividend |

Amounts as the company declared them on the NSE. A dividend goes to whoever owns the shares before the ex-date. The record date is the same day as the ex-date for every payment here. 4 of 5 Of the last 5 financial years, years with an NSE dividend record

Yes. Mahindra Lifespace Developers Ltd paid out 25% of its profit as dividends in FY26, and it paid a dividend in 11 of its last 13 reported years. (From the NSE corporate-actions record, read 5 November 2026.)

## What did Mahindra Lifespace Developers management say on the latest results call? On the call for July to September 2026, held on 22 October 2026, Mahindra Lifespace Developers' management guided: FY27 residential pre-sales ₹4,500-5,000 crore aiming for midpoint about ₹4,750 crore. > “The first point is that we have given guidance of 4,500-5,000 crores for this financial year. Taking the midpoint, 4,750 crores is something that we will target.”
> Amit Kumar Sinha, on the call for July to September 2026

### What management guided

- FY27 gross development value addition ₹10,000-20,000 crore aiming higher side of range. - Four second-half launches planned with Mahalunge in first-half December, Sai Baba by end-Q3 to mid-Q4, Vesterra by end-Q3 and Bengaluru greenfield in half. - Thane launch in next financial year alongside Chembur pull-forward from FY29 toward FY28. - Industrial committed deals to close in second half with significant part in third quarter. Management’s own plans and goals, from our notes of the call. A plan is not a result. Source: [the call transcript](https://files.tijorifinance.com/insight/india/4324/Conference Call/CC-Oct26.pdf). (From the call for July to September 2026, 22 October 2026.)

## What is the future of Mahindra Lifespace Developers? What is changing in the business? What is changing at Mahindra Lifespace Developers, from the latest results and calls: portfolio premiumization and margin expansion, gdv pipeline replenishment and large-parcel unlocks and . - Portfolio Premiumization and Margin Expansion. Transition from affordable housing to premium residential formats delivers project margins exceeding 26%. ✓ fact
- GDV Pipeline Replenishment and Large-Parcel Unlocks. Aiming for 10,000 to 20,000 Cr in annual GDV additions led by Kandivali K2 and Thane conversion. ✓ fact
- . Strategic equity partnerships enable asset-light scaling and non-dilutive equity financing. ✓ fact
- Industrial Clusters Annuity and Land Monetization. 1,500 leasable acres across Chennai, Jaipur, Pune, and Ahmedabad aiming for 1,500 Cr profit over 10 years. ✓ fact

We check 16 kinds of change in every company, such as costs spread over more sales, higher-value products, new orders, new regions or falling debt, against its reported numbers and what management said on its calls. Only changes the numbers back are shown. (Our read after the latest results, written 22 August 2026.)

## What could change the Mahindra Lifespace Developers story? What are the risks? A failure of FY27 residential pre-sales to exceed 3,500 Cr or quarterly residential collections dropping below 400 Cr for two consecutive quarters, indicating inventory absorption breakdown in core MMR developments. ### Each change stops working if

- Portfolio Premiumization and Margin Expansion: Urban luxury and premium housing demand decelerates beyond the projected 4.0% to 6.0% pricing band or construction input costs inflate above contingencies. - GDV Pipeline Replenishment and Large-Parcel Unlocks: Municipal approvals or DP plan notifications for Thane and Mumbai society redevelopments encounter regulatory gridlock. - Industrial Clusters Annuity and Land Monetization: Manufacturing capital spending and warehouse leasing demand soften, leading to extended vacancy and slower LOI conversion. ### The main risks

- Residential Price Growth Deceleration: Pricing growth moderating to 4.0% to 6.0% from historical 20.0% run-rate as shareholder demand cools. ⚠ estimate
- Working Capital Cash Burn and Negative Cumulative operating cash flow: Cumulative 3-year operating cash flow of -1,748 Cr versus profit of 457 Cr due to upfront land and construction outlays. ⚠ estimate
- Industrial Clusters Guidance Revision and Margin Compression: Annual IC profit contribution guidance cut from 550 Cr to 100-150 Cr with no management explanation. ⚠ estimate

(Our read after the latest results, written 22 August 2026.)

## What to watch in Mahindra Lifespace Developers' next results? When Mahindra Lifespace Developers reports October to December 2026, these are the 4 checks that show whether the story is still on course. First: Ravenza Phase 1 market launch and early absorption in coming quarter - per planned launch timetable. - What to check (from the call)
- Ravenza Phase 1 market launch and early absorption in coming quarter - per planned launch timetable. - Sai Baba and Vesterra approval progression to launch - per stated approval windows. - Industrial pipeline conversion to leased sales in near term - per committed-deals commentary. - Collections acceleration in coming quarter from stacked billing milestones - per management commentary. ## Which stock lists is Mahindra Lifespace Developers on? Mahindra Lifespace Developers is not on any of our India lists this week. ## Is Mahindra Lifespace Developers profitable? Mahindra Lifespace Developers Ltd earned ₹16.0 Cr of net profit in the Sep 2026 quarter, −66.7% on the same quarter a year earlier. Full-year FY26 profit was ₹298 Cr. Over 10 years profit has grown 12.1% a year on average. That is 50.0% of the quarter's revenue. The same quarter a year earlier earned ₹48.0 Cr. 2 of the last 12 reported quarters were loss-making. For the full year, FY26 profit was ₹298 Cr (+388.5% on the year before). Why profit moved: revenue changed +77.8% on a year earlier and the margin moved +129.0 percentage points. Most of the change came from keeping more of each sale. On average over the last four quarters, profit changed +2.6% and revenue +2,625.8%. Profit is growing slower than sales: rising costs are taking part of the growth. ## How much revenue does Mahindra Lifespace Developers make, and is it growing? Mahindra Lifespace Developers Ltd reported ₹32.0 Cr of revenue in the Sep 2026 quarter, +77.8% on the same quarter a year earlier. That is the 5th quarter in a row with growth on the year before. Over 10 years it has grown 7.1% a year on average. The last full year, FY26, came in at ₹1,178 Cr. The last four reported quarters add to ₹2,123 Cr. FY26 revenue was ₹1,178 Cr, +216.7% on the year before. Recent pace: the last four quarters grew +2,625.8% on average, against 7.1% a year over the longer run, so this year is growing faster than its own long-run rate. Is growth speeding up? Revenue over the last 12 months grew +839.4%, against +169.6% a year over the last 8 quarters (accelerating); profit over the last 12 months grew +85.8%, against +58.4% a year (accelerating). ## How much of every ₹100 of sales does Mahindra Lifespace Developers keep? Mahindra Lifespace Developers Ltd's operating margin was −170.0% in the Sep 2026 quarter, 129.0 percentage points higher than the same quarter a year ago. Across 13 years it has been between −81.0% and 39.0%. The latest quarter is below every full year in that period. Why this happened. The company has fully exited affordable housing development to focus on mid-premium and premium projects in core urban micro-markets. Projects such as Luminare NCR and Eden Phase 2 delivered PBT margins of approximately 26.0% upon completion. The launch of Rainforest generated 600 Cr in pre-sales in five weeks at premium realizations, demonstrating customer pricing power. Why the margin moved: operating margin changed +129.1 percentage points on the year while gross margin changed +41.4 points. So the gain came mostly from costs below the gross margin, such as staff and overheads, measured against sales. ## Is Mahindra Lifespace Developers' profit turning into cash? Over the last 3 years Mahindra Lifespace Developers Ltd's operations used more cash than they brought in, so cash conversion was −382%, a gap worth watching. In FY26 its operations used ₹545 Cr of cash, against ₹298 Cr of profit. After ₹30.0 Cr of spending on assets, free cash was −₹575 Cr: it spent more than its operations brought in. Cash-flow figures here are yearly, because quarterly cash statements are not published, so this section changes once a year. Why: the cash figure is clear, but the day counts behind it are not in our data, so we show it without guessing the reason. What to look at next: the main use of cash is spending on assets. The next section checks what that spending is building. ## Where does Mahindra Lifespace Developers' cash go? Mahindra Lifespace Developers Ltd's customer, stock and supplier day counts come out in the thousands of days on sales this small (₹1,178 Cr in FY26), so no cash-cycle chart is drawn and this section looks at its spending on assets instead. It spent ₹51.0 Cr on assets over the last 3 years. Averaged over those years that is 1.4% of FY26 revenue a year. Spending on assets: ₹51.0 Cr over the last 3 years, against ₹56.0 Cr of depreciation (the yearly wear and tear on existing assets). So it is spending about what it takes to replace what wears out, or less. Work still in progress is ₹10.0 Cr (FY26): assets paid for that are not earning yet. In short: the cash is going into new capacity, not getting stuck in the daily cycle. The question is whether the new capacity earns. ## What is Mahindra Lifespace Developers' P/E ratio, and how does it compare with its own history? Mahindra Lifespace Developers Ltd's P/E is 23.9×, near the low end of its own history: it has been lower only 19% of the time. Its usual P/E (the middle reading) is 33.2×, over 11 years of weekly prices. This compares the share price with the company’s own past. It does not say what the business is worth. The P/E here, and its history, use a profit figure that can leave out one-off items, so it can differ from a P/E worked out on the quarterly results. Those results' earnings per share for the four quarters to Sep 2026 add up to ₹14.10. Why the multiple is where it is: over the past year earnings per share moved +386.8% while the price moved −21.0%. Earnings did better than the price, which pulled the multiple down within its own range. Where the price move came from: over 10 years the price moved +10.4% a year; about +8.5% a year came from earnings growth and about +1.9 percentage points from the multiple (the market paying more). The split is approximate (price return minus earnings growth). It shows how much of the move came from the market paying a different multiple. In short: the multiple is low against its own past, so the earnings trend underneath matters more than the multiple. ## What growth does the Mahindra Lifespace Developers share price assume? Worked out from its price on 26 August 2026, Mahindra Lifespace Developers Ltd's share price assumed profit growth of about 17.4% a year. Over the past 10 years its profit actually grew 12.1% a year. Today its P/E is 23.9×, lower than 81% of its own last 11 years. This is a one-day reading, taken on 26 August 2026. Every other number on this page, the multiple included, uses the latest price as of 4 November 2026. A higher price assumes more growth and a lower price less, so it changes whenever the price changes, and this page does not update it between measurements. ## Is the Mahindra Lifespace Developers business getting better or worse? Mahindra Lifespace Developers Ltd's business is giving mixed signals. Growth is slowing from a very fast pace: profit growth has eased from +400.0% at its peak to +85.8%, but the business is still expanding, with ROCE rising at 8.0%. This is based on 12 quarters of 4 measures, with some gaps. Why it matters: when the lines disagree, each line above matters more than any single label. The return figures here are yearly, not quarterly. They show level and direction only; they can support the growth lines but never decide the reading alone. This reading has some gaps: at least one line is short, or the return line is not the quarterly series, so treat it with a little more caution. ## What is the Mahindra Lifespace Developers story, and has it been checked? Mahindra Lifespace Developers Ltd's story is not scored yet against the checks our research set on 22 August 2026. Where it sits in its own cycle: MID EXPANSION. Our read, 22 August 2026. From the numbers. However, the deterministic cycle…

From the price. Price stage 4, week 1, below its 200-day line, relative strength falling. From the research. Where they disagree. What is proven. What is not proven yet. A failure of FY27 residential pre-sales to exceed 3,500 Cr or quarterly residential collections dropping below 400 Cr for two consecutive quarters, indicating inventory absorption breakdown in core MMR developments. What would change our mind. A failure of FY27 residential pre-sales to exceed 3,500 Cr or quarterly residential collections dropping below 400 Cr for two consecutive quarters, indicating inventory absorption breakdown in core MMR developments. The test written in advance. A failure of FY27 residential pre-sales to exceed 3,500 Cr or quarterly residential collections dropping below 400 Cr for two consecutive quarters, indicating inventory absorption breakdown in core MMR developments. Measured by: the thesis as written as stated by the next result. The test written in advance. The test written in advance. Residential Price Growth Deceleration. Measured by: Residential Price Growth Deceleration MMR inventory overhang extending beyond 24 months and sales gallery footfalls falling sequentially. by the next result. What the company does. FY26 PAT reached 298 Cr on major project delivery milestones, supporting pre-sales expansion toward the 4,500 to 5,000 Cr FY27 guidance. A net cash surplus of 1,100 Cr and net debt to equity of -0.2 provide balance sheet resilience and acquisition flexibility without debt dilution. What the surface reading misses. What the surface reading misses. The surface reading is: Revenue increased 2906.3% YoY and operating margin reached positive 10.0%, indicating an accounting turnaround driven by project handovers. The research reads it further: Revenue was flattered by completed-contract consolidation of Luminare (600 Cr) and Eden Phase 2 upon receiving OCs, rather than steady quarterly construction billing. Lever 2 · Value-added mix: building. Transition from affordable housing to premium residential formats delivers project margins exceeding 26%. What proves it keeps working: Portfolio Premiumization and Margin Expansion. It stops working if Urban luxury and premium housing demand decelerates beyond the projected 4.0% to 6.0% pricing band or construction input costs inflate above contingencies. Lever 12 · New product launch: building. Aiming for 10,000 to 20,000 Cr in annual GDV additions led by Kandivali K2 and Thane conversion. What proves it keeps working: GDV Pipeline Replenishment and Large-Parcel Unlocks. It stops working if Municipal approvals or DP plan notifications for Thane and Mumbai society redevelopments encounter regulatory gridlock. Sources: our stock research file (22 August 2026) · quarterly results through Sep 2026 · the company’s own earnings calls. The story check is re-scored every results season; the record below never changes. ## Did Mahindra Lifespace Developers management deliver what it promised? What Mahindra Lifespace Developers Ltd's management promised, against what actually happened: 4 promises on the record. Read straight from the company’s own earnings calls. A promise that slipped stays on this page after it is met. IC Cash Flow Outlook Appears Reduced · 22 October 2026. In Jul 2026, management described IC cash flow potential of 200-250 crores per annum, implying approximately 1,000-1,250 crores over five years. In Oct 2026, management cited only 750-800 crores in total for the five-year period, implying a reduction of roughly 20%-40%, without explaining whether the metric or scope had changed. Origins Pune Timeline Appears Extended · 22 October 2026. Apr 2026 indicated that Origins Pune would move toward approvals in FY27- FY28, while Jul 2026 still described the project as being in the aggregation phase. By Oct 2026, management said completing land contiguity alone would take 1-2 years, which appears to push approvals beyond the earlier window; the latest call did not explain the timetable extension. IC Business PAT Guidance Reversal · 24 July 2026. In Apr 2026, management paired its recurring IC revenue guidance of 400-500 crores with roughly 550 crores of PAT, while the Jul 2026 call says the same annual guidance should yield only 100-150 crores of PAT. This is a material reduction in implied profitability with no explanation for the change. Historical GDV Addition Recast · 24 July 2026. In Apr 2026, management described GDV additions of 18,000 crores for the current year and F25, whereas the Jul 2026 call characterizes the two successful years as 15,000 crores each. The latest statement lowers the reported historical run rate by about 17% without explaining whether the metric or scope has changed. Every quote above is taken word for word from the company’s own earnings calls. ## How much does Mahindra Lifespace Developers earn on its capital? Mahindra Lifespace Developers Ltd earned a ROCE of 8% in FY26. That is up from a low of −3% in FY20. Its return on capital used (ROIC) is 11.9 percentage points below its cost of capital, so growth here does not yet pay for the capital it uses. It comes from a 25.3% net margin and 0.14× asset turnover (sales divided by assets). Why the return is what it is (FY26): a 25.3% net margin × 0.14× asset turnover × 2.29× leverage (assets divided by equity) ≈ 8.1% on equity. The margin does most of the work; borrowing is a big part of it. The key test, return on capital used minus the cost of capital: 0.1% − 12.0% = −11.9 percentage points. The 12.0% is a standard assumption for the cost of capital in India, not an estimate for this company. Read the sign and size of the gap, not the decimals. Negative: growth at these returns loses value until returns improve. The 0.1% ROIC above is the latest reading, as reported. The yearly chart below shows FY26 at −4.2%, and the quarterly chart works out each 12-month window from the quarterly figures, so the readings differ by date, not by method. ## Does Mahindra Lifespace Developers have too much debt? Mahindra Lifespace Developers Ltd has total debt of ₹639 Cr against shareholder equity of ₹3,660 Cr as of Sep 2026, so its debt is 0.17× its equity, which is very little. Year by year, that ratio went from 0.16 in FY22 to 0.18 in FY26. So the returns on this page come from the business, not from borrowed money. ## What is the Mahindra Lifespace Developers shareholding pattern? Foreign institutions cut their stake in Mahindra Lifespace Developers Ltd by 2.5 percentage points over 8 quarters, the biggest change among its owners. Foreign institutions now own 7.3% of the company. Domestic institutions moved +1.9 points over the same period, to 22.8%. This uses the four owner groups that companies report every quarter; nothing is guessed between filings. Over the last two years: Foreign institutions: −2.5 points over 8 quarters, to 7.3%; Domestic institutions: +1.9 points over 8 quarters, to 22.8%; Promoters: +1.3 points over 8 quarters, to 52.4%. Why the owners changed: foreign institutions moved −2.5 points and domestic institutions +1.9 points over 8 quarters, while promoters moved +1.3 points. One group of institutions took over shares from the other; it is not a change of mind by the people running the company. ## How far is Mahindra Lifespace Developers from balance-sheet trouble? For Mahindra Lifespace Developers Ltd, the Z-score is not available, so we say so rather than guess one. It estimates how far the balance sheet is from trouble; it is not a forecast of failure. The debt, cash-flow and return sections show the balance-sheet figures we do have, each with its own date. ## How does Mahindra Lifespace Developers rank in its industry? 57.6 out of 100, rank 3 of 12 in Construction & Contracting, with 93% of the evidence available. Mahindra Lifespace Developers Ltd scores 57.6 out of 100 against the 12 companies it is compared with in Construction & Contracting, ranking 3. The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. The four parts add up to the total exactly: 30.3 + 6.2 + 12.5 + 8.6 = 57.6. This is the same number shown on the industry page; it is worked out once for the whole group and read here. What would change it: The score would fall if profit growth turns negative or margins stop improving while the share price lags its sector. ## Which companies is Mahindra Lifespace Developers compared with? Mahindra Lifespace Developers ranks 3 of 12 Construction & Contracting companies on the 4-Factor Sector Score, with 57.6 out of 100. 1. [Modis Navnirman Ltd](https://www.sectoralpha.in/stocks/modis-navnirman-ltd) MODIS · leader · Most evidence points up · 75% evidence 73.0 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 25.3/35 · Revenue 70.6% · Profit 71.4% · Operating margin change 6 points · 95% evidence Capital efficiency 19.4/25 · ROCE 25.8% · Operating margin 21% · 76% evidence Valuation 10.2/20 · P/E 21.2× · PEG n/a · 15% evidence Relative strength 18.1/20 · Lead over its industry 35% · Lead over NIFTY 500 16.5% · 1 year 24.5% · 100% evidence · 10 of 12 weeks ahead Exact sum: 25.3 + 19.4 + 10.2 + 18.1 = 73 · What this means: Earnings, capital efficiency and relative strength all agree. The open questions are about management, upcoming events and risks. 2. [Garuda Construction and Engineering Ltd](https://www.sectoralpha.in/stocks/garuda-construction-and-engineering-ltd) GARUDA · quiet · Evidence leans up · 79% evidence 63.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 28.8/35 · Revenue 84.1% · Profit 97.1% · Operating margin change 3 points · 88% evidence Capital efficiency 20.5/25 · ROCE 42.4% · Operating margin 32% · 100% evidence Valuation 11.2/20 · P/E 9.3× · PEG n/a · 15% evidence Relative strength 3.2/20 · Lead over its industry -6.3% · Lead over NIFTY 500 -19.9% · 1 year -37.3% · 100% evidence · 3 of 12 weeks ahead Exact sum: 28.8 + 20.5 + 11.2 + 3.2 = 63.7 · What this means: Earnings are strong; relative strength in its sector is -6.3% and the one-year return is -37.3%. 3. Mahindra Lifespace Developers Ltd this page MAHLIFE · quiet · Evidence leans up · 93% evidence 57.6 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 30.3/35 · Revenue 100% · Profit 85.8% · Operating margin change 129 points · 100% evidence Capital efficiency 6.2/25 · ROCE 7.6% · Operating margin -170% · 100% evidence Valuation 12.5/20 · P/E 23.4× · PEG 1.18 · 65% evidence Relative strength 8.6/20 · Lead over its industry 3.9% · Lead over NIFTY 500 -10.9% · 1 year -20.5% · 100% evidence · 6 of 12 weeks ahead Exact sum: 30.3 + 6.2 + 12.5 + 8.6 = 57.6 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 4. [Man Infraconstruction Ltd](https://www.sectoralpha.in/stocks/man-infraconstruction-ltd) MANINFRA · breaking out · Evidence leans up · 82% evidence 57.1 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 12.2/35 · Revenue -9.8% · Profit -26.1% · Operating margin change 5 points · 95% evidence Capital efficiency 15.8/25 · ROCE 13.2% · Operating margin 30% · 76% evidence Valuation 11.5/20 · P/E 19.2× · PEG n/a · 50% evidence Relative strength 17.6/20 · Lead over its industry 15.4% · Lead over NIFTY 500 -1.1% · 1 year -28.3% · 100% evidence · 9 of 12 weeks ahead Exact sum: 12.2 + 15.8 + 11.5 + 17.6 = 57.1 · What this means: Relative strength against the index is -1.1%, and revenue and profit growth are weak. 5. [RDB Infrastructure and Power Ltd](https://www.sectoralpha.in/stocks/rdb-infrastructure-and-power-ltd) Evidence leans up · 61% evidence 53.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 26.0/35 · Revenue 18.6% · Profit 100% · Operating margin change 3.7 points · 83% evidence Capital efficiency 10.7/25 · ROCE 7% · Operating margin 7.4% · 95% evidence Valuation 9.5/20 · P/E 23.9× · PEG n/a · 15% evidence Relative strength 7.5/20 · Lead over its industry n/a · Lead over NIFTY 500 -54.8% · 1 year -70.3% · 25% evidence · 0 of 7 weeks ahead Exact sum: 26 + 10.7 + 9.5 + 7.5 = 53.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 6. [PSP Projects Ltd](https://www.sectoralpha.in/stocks/psp-projects-ltd) PSPPROJECT · quiet · Evidence leans up · 81% evidence 52.7 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 22.1/35 · Revenue 44.7% · Profit 100% · Operating margin change 1.2 points · 65% evidence Capital efficiency 11.7/25 · ROCE 7.9% · Operating margin 6% · 100% evidence Valuation 12.9/20 · P/E 37.3× · PEG 0.9 · 65% evidence Relative strength 6.0/20 · Lead over its industry 1.6% · Lead over NIFTY 500 -12.7% · 1 year -25.5% · 100% evidence · 2 of 12 weeks ahead Exact sum: 22.1 + 11.7 + 12.9 + 6 = 52.7 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 7. [NCC Ltd](https://www.sectoralpha.in/stocks/ncc-ltd) NCC · quiet · Evidence leans down · 63% evidence 49.5 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 11.6/35 · Revenue -1.8% · Profit -12.1% · Operating margin change 0 points · 83% evidence Capital efficiency 15.8/25 · ROCE 16.8% · Operating margin 9% · 76% evidence Valuation 13.3/20 · P/E 9.9× · PEG n/a · 50% evidence Relative strength 8.8/20 · Lead over its industry n/a · Lead over NIFTY 500 -19.6% · 1 year -46.1% · 25% evidence · 0 of 12 weeks ahead Exact sum: 11.6 + 15.8 + 13.3 + 8.8 = 49.5 · What this means: The valuation scores well, but earnings are not improving yet, so the business does not back up the low multiple so far. 8. [BEML Land Assets Ltd](https://www.sectoralpha.in/stocks/beml-land-assets-ltd) BLAL · turning · Too little evidence to rank firmly · 59% evidence 48.9 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 20.1/35 · Revenue n/a · Profit 100% · Operating margin change n/a · 30% evidence Capital efficiency 5.3/25 · ROCE -193% · Operating margin 67.3% · 100% evidence Valuation 8.5/20 · P/E 291× · PEG n/a · 15% evidence Relative strength 15.0/20 · Lead over its industry 7.4% · Lead over NIFTY 500 -8.1% · 1 year -23% · 100% evidence · 0 of 12 weeks ahead Exact sum: 20.1 + 5.3 + 8.5 + 15 = 48.9 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 9. [Ashoka Buildcon Ltd](https://www.sectoralpha.in/stocks/ashoka-buildcon-ltd) ASHOKA · basing · Evidence leans down · 71% evidence 43.2 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 9.8/35 · Revenue -24.6% · Profit 37.3% · Operating margin change -15 points · 83% evidence Capital efficiency 18.4/25 · ROCE 26.4% · Operating margin 17% · 76% evidence Valuation 11.5/20 · P/E 4× · PEG n/a · 15% evidence Relative strength 3.5/20 · Lead over its industry -10.7% · Lead over NIFTY 500 -24.2% · 1 year -53.1% · 100% evidence · 0 of 12 weeks ahead Exact sum: 9.8 + 18.4 + 11.5 + 3.5 = 43.2 · What this means: The evidence is balanced: no factor stands out, so another reported quarter is needed before the picture is clearer. 10. [Vascon Engineers Ltd](https://www.sectoralpha.in/stocks/vascon-engineers-ltd) VASCONEQ · turning · Too little evidence to rank firmly · 56% evidence 36.4 out of 100 Growth Capital Valuation Relative How the score adds up Growth & earnings 9.2/35 · Revenue -20.2% · Profit -80% · Operating margin change -2.5 points · 83% evidence Capital efficiency 8.9/25 · ROCE 4.7% · Operating margin 3.3% · 76% evidence Valuation 9.2/20 · P/E 24.2× · PEG n/a · 15% evidence Relative strength 9.1/20 · Lead over its industry n/a · Lead over NIFTY 500 -16.8% · 1 year -55.3% · 25% evidence · 1 of 12 weeks ahead Exact sum: 9.2 + 8.9 + 9.2 + 9.1 = 36.4 · What this means: Some evidence is missing, so the score is pulled toward the middle on purpose. 11. [Consolidated Construction Consortium Ltd](https://www.sectoralpha.in/stocks/consolidated-construction-consortium-ltd) CCCL · quiet · Too little evidence to rank firmly · 56% evidence 32.5 out of 100 Growth Capital Valuation Relative
12. [Jaiprakash Associates Ltd](https://www.sectoralpha.in/stocks/jaiprakash-associates-ltd) JPASSOCIAT · Too little evidence to rank firmly · 26% evidence 36.5 out of 100 Growth Capital Valuation Relative

Missing figures are not scored as bad. They lower the confidence and pull the final score toward the middle. Relative strength counts only when the company has a reading for this week; with no reading, that factor is left out and its 20 points are shared across the other three in proportion. PEG is not shown when the ratio cannot mean anything: the company must be making a profit, its price-to-earnings must be positive, and its three-year earnings growth must fall between 5% and 60%. Dividing a price multiple by a loss, or by growth measured off a tiny base, produces a number that looks precise and tells you nothing. Under relative strength, one mark per week shows the last 12 weeks: a mark is filled where the company led NIFTY 500 by 5% or more over the 13 weeks ending that week, which is the same test used everywhere on this site. Price stage places the company on the same six-step path the industry is placed on (basing, turning, breaking out, leader, fading, asleep), read from how many weeks running it has led NIFTY 500 and whether that lead is growing or shrinking. It describes where the share price stands, not the direction of earnings, and it is not a recommendation; it is left blank for a company whose weekly history is too short or too stale to read. The figures in this ranking come from the industry comparison: results through the Sep 2026 quarter, and the P/E at that quarter's end. The sections above use the latest weekly price, so a P/E or return there can differ a little from the one here. The stage words in this ranking (such as losing its lead or breaking out) describe the lead over the index, not the price phase in the price section. Related companies: [Construction & Contracting](https://www.sectoralpha.in/sectors/construction-contracting), all 12 compared on one page. ## Which companies are close to Mahindra Lifespace Developers in size? Mahindra Lifespace Developers is the 2nd largest of 12 Construction & Contracting companies on Sector Alpha by market value (scores of 30 October 2026). Just above it: NCC. Just below it: Man Infraconstruction, PSP Projects, Ashoka Buildcon, Garuda Construction and Engineering and Modis Navnirman. ### Construction & Contracting companies close in size

1. [NCC Ltd](https://www.sectoralpha.in/stocks/ncc-ltd) ₹7,189 crore
2. Mahindra Lifespace Developers Ltd ₹6,545 crore
3. [Man Infraconstruction Ltd](https://www.sectoralpha.in/stocks/man-infraconstruction-ltd) ₹4,311 crore
4. [PSP Projects Ltd](https://www.sectoralpha.in/stocks/psp-projects-ltd) ₹2,741 crore
5. [Ashoka Buildcon Ltd](https://www.sectoralpha.in/stocks/ashoka-buildcon-ltd) ₹2,706 crore
6. [Garuda Construction and Engineering Ltd](https://www.sectoralpha.in/stocks/garuda-construction-and-engineering-ltd) ₹1,264 crore
7. [Modis Navnirman Ltd](https://www.sectoralpha.in/stocks/modis-navnirman-ltd) ₹769 crore

[All 12 Construction & Contracting companies, largest first](https://www.sectoralpha.in/sectors/construction-contracting#all-companies)

### Companies close in size in other industries

1. [S J S Enterprises Ltd](https://www.sectoralpha.in/stocks/s-j-s-enterprises-ltd) ₹6,694 crore · Auto Ancillaries - Diversified
2. [KRN Heat Exchanger and Refrigeration Ltd](https://www.sectoralpha.in/stocks/krn-heat-exchanger-and-refrigeration-ltd) ₹6,667 crore · Engineering - General
3. Mahindra Lifespace Developers Ltd ₹6,545 crore
4. [Rain Industries Ltd](https://www.sectoralpha.in/stocks/rain-industries-ltd) ₹6,530 crore · Cement
5. [Neogen Chemicals Ltd](https://www.sectoralpha.in/stocks/neogen-chemicals-ltd) ₹6,523 crore · Speciality Chemicals

## What else do people ask about Mahindra Lifespace Developers? ### What is Mahindra Lifespace Developers's share price today? Mahindra Lifespace Developers Ltd's share price is ₹314.15, −21.0% over the past year. The whole company is worth ₹6,697 Cr on the market. In the last 52 weeks it traded between ₹307 to ₹419; today it is 7% of the way up from the low, 12.4% below its 200-day average (as of 4 November 2026). ### What were Mahindra Lifespace Developers's latest quarterly results? Mahindra Lifespace Developers Ltd reported revenue of ₹32.0 Cr and net profit of ₹16.0 Cr for the Sep 2026 quarter. Revenue rose 77.8% and profit fell 66.7% compared with a year earlier. Earnings per share were ₹0.77. The operating margin was −170.0%, 129.0 percentage points higher than a year earlier (as of 4 November 2026). ### What is Mahindra Lifespace Developers's market cap? Mahindra Lifespace Developers Ltd's market capitalisation is ₹6,697 Cr at a share price of ₹314.15. Market cap is the share price times the number of shares, so it changes whenever the price moves (as of 4 November 2026). ### How is Mahindra Lifespace Developers performing? Mahindra Lifespace Developers Ltd's share price has been falling for 1 weeks. In its latest quarter, revenue rose 77.8% and profit fell 66.7% compared with a year earlier. Over the past 13 weeks it has done worse than the NIFTY 500, for 5 weeks running (as of 4 November 2026). ### Will Mahindra Lifespace Developers's share price go up? This page does not forecast Mahindra Lifespace Developers Ltd's share price. What it shows instead: the share price is ₹314.15, and it has been falling for 1 weeks. Its P/E of 23.9× is higher than 19% of its own last 11 years (as of 4 November 2026). ### Does Mahindra Lifespace Developers have too much debt? No, Mahindra Lifespace Developers Ltd has little debt: its debt is 0.18× its equity, and its operating profit is −11 times its interest bill. FY26 borrowings were ₹662 Cr against equity of ₹3,627 Cr. So the returns on this page come from the business, not borrowed money (as of 4 November 2026). ### Where is Mahindra Lifespace Developers in its business cycle? Mahindra Lifespace Developers Ltd's FY26 operating margin was −10.0%, against a 13-year range of −81.0% to 39.0%: the middle of its own range, neither a peak nor a low. The latest quarter was −170.0%. Comparing margins with a company's own long history is a good way to see where it is in its cycle (as of 4 November 2026). ### What could break the Mahindra Lifespace Developers story? The main question: profits are rising, but only −382% of the last 3 years' profit came in as cash from operations. The gap between reported profit and actual cash is the thing to watch. On price, this page treats a rise as over when the share price closes below its 200-day average on two Fridays in a row (as of 4 November 2026). ### Is Mahindra Lifespace Developers a stock worth studying right now? What the numbers show: Mahindra Lifespace Developers Ltd's earnings have grown faster than its share price. Earnings per share grew +386.8% in a year while the price moved −21.0%. The main open question: whether the cash starts to follow the profit. Every number on this page is worked out by code from the published figures, with no forecasts and no price opinions (as of 4 November 2026). ### Is there a Mahindra Lifespace Developers share price forecast for 2026? What management itself guided: FY27 residential pre-sales ₹4,500-5,000 crore aiming for midpoint about ₹4,750 crore. What is changing at Mahindra Lifespace Developers, from the latest results and calls: portfolio premiumization and margin expansion, gdv pipeline replenishment and large-parcel unlocks and . What would change the story: A failure of FY27 residential pre-sales to exceed 3,500 Cr or quarterly residential collections dropping below 400 Cr for two consecutive quarters, indicating inventory absorption breakdown in core MMR developments. This is research, not advice. We’re not SEBI-registered.