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Mahindra realty limb enjoys huge Profits

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Sources claimed at the www.propertykhazana.com says that Mahindra Lifespace Developers limb of Mahindra Group recorded 57% raise in quarterly net profit on flow in auctions and the firm’s total profit for the 2nd quarter flowed to Rs. 18 Crores against Rs. 12 Crores in last year. Auction expanded over 101% to Rs. 105 Crores and its running income had risen to 110% to Rs. 65 Crores and for 6 months end, the firm posted a total profit of Rs. 30 Crores as compared to Rs. 22 Crores. Managing Director and Chief Executive Officer said to www.propertykhazana.com that, “The housing segment has come back in the previous two quarters and the quantity has went up following the rate decrease of 6-11%. The commercial realty is still under the stress.”
www.propertykhazana.cpom reports said that the firm’s ventures in Mumbai, Faridabad, Pune and Chennai were on the list. The totally possessed arm of Mahindra & Mahindra is at 5 markets across the country, where two ventures are in Mumbai, one in NCR and another in Chennai. The firm’s present housing projects comprise 13 acres ventures in Pune and 23 acres venture in Chennai and also the firm started a venture ‘Mahindra World City’ in Jaipur. Shares of the firm has slide 5% at Rs. 15 close to Rs. 400 on the Bombay Stock Exchange. For further information on realty market browse www.propertykhazana.com.
Source: NBTVLIVE

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