Mahindra Lifespace, Anil Singhvi's wealth creation pick, launches Bengaluru residential project; shares jump

Mahindra Lifespace Developers stock price, share market news: Mahindra Lifespace Developers (MAHLIFE) shares rose on Friday after the real estate company launched a residential project in Bengaluru. The stock rose by as much as Rs 12.4, or 2.3 per cent, to Rs 556.5 apiece in early deals on BSE. 

At 10:30 am, the stock held firmly to the green, up 2.0 per cent for the day at Rs 555.2 apiece.

The project, called Mahindra Zen, is located in the southern part of the city, according to a regulatory filing. 

Mahindra Zen is registered with the Karnataka Real Estate Regulatory Authority, Mahindra Lifespace Developers said. 

Mahindra Lifespace is market wizard Anil Singhvi's wealth creation pick 

Zee Business Managing Editor Anil Singhvi has picked Mahindra Lifespace Developers as one of his wealth creation picks citing strong fundamentals and the potential to perform well over the long run. 

The market guru has assigned targets of Rs 900, Rs 1,200 and Rs 1,500 to Mahindra Lifespaces shares from a perspective of 3-5 years.

Singhvi suggests investors use every fall of 10 per cent to enter the stock through the systematic investment plan (SIP) route.

Read more on how Anil Singhvi views Mahindra Lifespace

How analysts view Mahindra Lifespace

Last week, Sharekhan retained a 'buy' rating on the realty stock with a target price of Rs 736, citing strong business scalability over five years that was well-supported by a sectoral upcycle.

The brokerage expects the real estate developer to achieve lifetime quarterly high pre-sales booking of more than Rs 1,000 crore in the final three months of FY24, aided by stellar response to its Kandivali
project, the contribution from the launch of its Chennai project, and sustained sales from its existing projects.

Meanwhile, the company's management has already set an aspirational target of achieving residential sales bookings to the tune of Rs 8,000-10,000 crore by FY2024.

Here are some key points highlighted by the brokerage: 

• The company has been able to sustain healthy momentum in residential sales
• Its industrial leasing business, though lumpy, has started to gain traction
• The company remains on a solid growth trajectory with an aspirational vision to multiply manifold over five years
• It has a strong pipeline of launches and business development for two years
• A weak macroeconomic environment leading to a lull in the industry’s growth trend can be the key risk 

How Mahindra Lifespace Developers shares have performed in the past

Mahindra Lifespace Developers shares have rewarded investors with a return of almost 67 per cent in one year, sharply outperforming a gain of nearly 29 per cent in the headline Nifty50 index.

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