Mahindra Lifespaces bonus share in ratio of 2:1 announced; Check record date

Mahindra Lifespaces Bonus Share News, Mahindra Life Bonus Share Record Date:  Mahindra Lifespaces Developers Ltd (MLDL) has announced bonus issue of shares to shareholders. The Board of Directors of Mahindra Lifespaces Developers has recommended the bonus issue in the ratio of 2:1. It means that shareholders of the company will get two fully paid-up shares of Rs 10 each for every 1 fully paid-up shares of Rs 10 each.

However, the bonus share issue is subject to the approval of shareholders. Mahindra Lifespaces Developers is yet to announce the record date for the bonus share issue. Mahindra Lifespaces Developers said that it will soon inform the record date to determine the record date for the bonus share.

Mahindra Lifespaces Developers is the real estate and infrastructure development business of the Mahindra Group. It has developed properties in Mumbai, Pune, Nagpur, Ahmedabad, Delhi-NCR, Jaipur, Hyderabad, Chennai and Bengaluru.

The company has reported a consolidated net loss of Rs 14 crore for the first quarter as against Rs 20.50 crore loss a year ago. Total income rose to Rs 154.20 crore in the first quarter of this fiscal from Rs 22.09 crore in the corresponding period of the previous year.

“Residential sales, as well as land leasing at our industrial parks, continued to perform well despite varying levels of lockdowns through the quarter,” Arvind Subramanian, MD and CEO, Mahindra Lifespaces Developers Ltd, said.

On Friday, Mahindra Lifespaces Developers shares opened at Rs 784 on the NSE and Rs 778 on BSE.

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