Wealth Creation Pick 2024 By Anil Singhvi, Mahindra Lifespaces Share Price Target: Benchmark equity indices rebounded in early trade on Wednesday i.e. March 20 after a sharp decline in the previous trade. This comes amid a rally in global markets and fresh foreign fund inflows. There is huge potential of creating wealth amid this volatility and if you are looking for a stock, here's one picked by market wizard Anil Singhvi.

Mahindra Lifespaces Share Price Target: Anil Singhvi's View

COMMERCIAL BREAK
SCROLL TO CONTINUE READING

Zee Business Managing Editor Anil Singhvi has picked real estate sector company Mahindra Lifespaces Developers Ltd as his today's wealth creation pick. This company has strong fundamentals and has the potential to perform well in the long run. 

Singhvi said that the company has strong promoters as this is a stock of Mahindra & Mahindra Group. 

"It is one of the best companies in terms of corporate governance. We are bullish on the real estate sector and it is ready to witness good growth," he said.

Mahindra Lifespaces: Some Key Points

- Mahindra Lifespaces has a large land bank of more than 4000 acres. 

- Apart from Jaipur, Chennai, Ahmedabad, and Pune, there is a big land bank in Mumbai, Palghar and Thane. 

- Pre-sales of Kandivali Phase 1 have crossed Rs 800 crore. 

- Business worth Rs 2700 crore is expected from all three phases in Kandivali. The company can get a profit of more than Rs 1500 crore. The value of the company's land is more than the market cap of Rs 8300 crore.

- Singhvi said that ICICI Pru, Kotak Mah, HSBC and Goldman Sachs have a 16 per cent stake in the company. 

"It is an investor-friendly company and has given a bonus of 2:1 shares in September 2021. Also, the appointment of Amit Sinha as MD & CEO can be a game changer for the company. The income of the company is expected to increase 5 times in the next 5 years. The company has a target of pre-sales of Rs 8000-10000 crore in 5-7 years," he added.

Mahindra Lifespaces Share Price Target By Anil Singhvi 

Singhvi has given three targets for Mahindra Lifespaces - Rs 900, 1200 and 1500 for 3-5 years. He suggested that investors can do SIP on every 10 per cent fall in this stock.