Mahindra Lifespace Developers Ltd. — Interim / Quarterly Report 2021

Oct 26, 2021

26[th] October, 2021

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BSE Limited Corporate Services, Piroze Jeejeebhoy Towers, Dalal Street, Mumbai – 400 001 Listing: http://listing.bseindia.com	National Stock Exchange of India Limited Exchange Plaza, Bandra Kurla Complex, Bandra (East), Mumbai 400051 Listing:https://neaps.nseindia.com/NEWLISTINGCORP/

Re:

Re:
Security	BSE	NSE	ISIN
EquityShares	532313	MAHLIFE	INE813A01018

Dear Sirs / Madam,

Sub: Outcome of Board Meeting held on 26[th] October, 2021

Pursuant to the provisions of Securities and Exchange Board of India (Listing Obligations and Disclosure Requirement) Regulations, 2015 [“SEBI LODR”], we wish to inform you that the Board of Directors at its meeting held today, 26[th] October, 2021, from 10:45 am to 12:50 pm, inter alia, have:

1. Approved the unaudited standalone and consolidated Financial Statement for the 2[nd] Quarter and half year ended on 30[th] September, 2021;

2. Approved issue and allotment of 8,300 new fully paid-up Equity Shares of Rs.10/- each to the Eligible Employees pursuant to the exercise of Options granted under Employee Stock Options Scheme 2012 (ESOS - 2012), at an exercise price of Rs.10/- per share. Pursuant to this allotment, the issued equity capital of the Company has increased from Rs. 154,33,47,030 to Rs. 154,34,30,030 and subscribed & paid-up equity capital of the Company has increased from Rs. 154,18,15,140 to Rs. 154,18,98,140.

Accordingly, we are enclosing the following:

• a) A copy of the unaudited standalone and consolidated financial statement of the Company for the 2[nd] Quarter and half year ended on 30[th] September, 2021;

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• b) Limited Review Report on standalone and consolidated financial statement of the Company for the 2[nd] Quarter and half year ended on 30[th] September, 2021, issued by Statutory Auditors, M/s. Deloitte Haskins & Sells LLP;

• c) A copy of the press release for Q2FY22;

The press release is self – explanatory. The press release will also be disclosed on the website of the Company http://www.mahindralifespaces.com.

The results will be available on the website of Stock Exchanges on the link www.nseindia.com and www.bseindia.com and on the website of the Company https://www.mahindralifespaces.com/.

Kindly take note of the above.

Thanking you,

Yours faithfully, For Mahindra Lifespace Developers Limited

Ankit Shah

Assistant Company Secretary & Compliance Officer ACS-26552

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Encl.: a/a

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Chartered Accountants One International Centre Tower 3, 27[th] -32[nd] Floor Senapati Bapat Marg Elphinstone Road (West) Mumbai – 400 013 Maharashtra, India

Deloitte Haskins & Sells LLP

Tele: + 91 22 6185 4000 Fax: +91 22 6185 4001

INDEPENDENT AUDITOR’S REVIEW REPORT ON REVIEW OF INTERIM STANDALONE FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF MAHINDRA LIFESPACE DEVELOPERS LIMITED

1. We have reviewed the accompanying Statement of Standalone Unaudited Financial Results of MAHINDRA LIFESPACE DEVELOPERS LIMITED (“the Company”), for the quarter and six months ended September 30, 2021 (“the Statement”), being submitted by the Company pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

2. This Statement, which is the responsibility of the Company’s Management and approved by the Company’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (“SRE”) 2410 ‘Review of Interim Financial Information Performed by the Independent Auditor of the Entity’, issued by the Institute of Chartered Accountants of India (“ICAI”). A review of interim financial information consists of making inquiries, primarily of the Company’s personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

4. Based on our review conducted as stated in paragraph 3 above, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be

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Regd. Office. One International Centre, Tower 3, 27[th] -32[nd] Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai – 400 013, Maharashtra, India.

(LLP Identification No. AAB-8737)

Deloitte Haskins & Sells LLP

disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

For DELOITTE HASKINS & SELLS LLP

Chartered Accountants

(Firm’s Registration No. 117366W/W-100018)

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Ketan Vora

(Partner) (Membership No. 100459) (UDIN:2110459AAAAOF5144)

Place: MUMBAI Date: October 26, 2021

Mahindra Lifespace Developers Limited

CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018

Statement of Standalone Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021

(Rs. in lakhs)

Mar 16 column (Rs. in lakhs) Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Standalone Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021	Mar 16 column (Rs. in lakhs) Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Standalone Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021	Mar 16 column (Rs. in lakhs) Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Standalone Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021	Mar 16 column (Rs. in lakhs) Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Standalone Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021	Mar 16 column (Rs. in lakhs) Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Standalone Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021	Mar 16 column (Rs. in lakhs) Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Standalone Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021	Mar 16 column (Rs. in lakhs) Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Standalone Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021	Mar 16 column (Rs. in lakhs) Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Standalone Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021
	Particulars	Quarter ended			Half Year ended		Year Ended
		30.09.2021 Unaudited	30.06.2021 Unaudited	30.09.2020 Unaudited	30.09.2021 Unaudited	30.09.2020 Unaudited	31.03.2021 Audited
1 2 3 4 5 6 7 8 9 10 11 12 13	Revenue from Operations Other Income Total Income (1+2) Expenses: a) Cost of Sales - Cost of Projects - Operating Expenses b) Employee Benefits Expense c) Finance Costs d) Depreciation and Amortization Expense e) Other Expenses Total Expenses (Loss)/Profit Before Tax (3-4) Tax Expense/(Credit): a) Current Tax b) Deferred Tax (Loss)/Profit after Tax (5-6) Other Comprehensive Income/(Loss) Items that will not be reclassified to profit or loss - Remeasurements of the defined benefit liabilities (net of taxes) Total Comprehensive Loss (9+10) Paid-up Equity Share Capital (Face Value of Rs.10 each) Reserves (excluding revaluation reserves) as at Balance Sheet date Capital Redemption Reserve Earnings per equity share (Face value of Rs. 10/- each) (Rs.)* a) Basic b) Diluted	650 2,643 3,293 353 5 2,064 161 131 1,099 3,813 (520) - (90) (430) - (430) 15,418 (0.28) (0.28)	14,029 546 14,575 13,313 259 2,022 61 142 893 16,690 (2,115) - (573) (1,542) - (1,542) 5,139 (1.00) (1.00)	882 3,132 4,014 591 10 1,362 76 168 885 3,092 922 - 247 675 39 714 5,137 0.44 0.44	14,679 3,189 17,868 13,666 264 4,086 222 273 1,992 20,503 (2,635) - (663) (1,972) - (1,972) 15,418 1,27,228 - (1.28) (1.28)	1,262 3,870 5,132 728 14 3,090 267 343 1,379 5,821 (689) - (156) (533) 39 (494) 5,137 1,44,035 7,354 (0.35) (0.35)	8,964 4,675 13,639 8,043 89 6,531 367 665 4,911 20,606 (6,967) - (1,742) (5,225) (15) (5,240) 5,138 1,39,407 7,354 (3.39) (3.39)
* Basic and Diluted EPS for all periods, except year ended 31.03.2021, are not annualised.
Reporting of Segment wise Revenue, Results & Segment Assets / Liabilities (Rs. in lakhs)
	Particulars	Quarter ended			Half Year ended		Year Ended
		30.09.2021 Unaudited	30.06.2021 Unaudited	30.09.2020 Unaudited	30.09.2021 Unaudited	30.09.2020 Unaudited	31.03.2021 Audited
1 2 3 **4 **	Segment Revenue (Revenue from Operations) a) Projects, Project Management and Development b) Operating of Commercial Complexes Total Segment Results a) Projects, Project Management and Development b) Operating of Commercial Complexes Total Segment Results Less : Other unallocable expenditure / (income) (net) excluding interest below Less : Unallocable Interest Total Loss before Tax Segment Assets a) Projects, Project Management and Development b) Operating of Commercial Complexes Total Segment Assets c) Unallocated Corporate Assets Total Assets Segment Liabilities a) Projects, Project Management and Development b) Operating of Commercial Complexes Total Segment Liabilities c) Unallocated Corporate Liabilities Total Liabilities	445 205 650 - (134) 87 (47) 313 161 (521) (0.60) 1,62,023 2,492 1,64,515 43,254 2,07,769 - 57,711 681 58,392 6,732 65,124 1	13,849 180 14,029 (216) 107 (109) 1,945 61 (2,115) 1,52,834 2,500 1,55,334 43,928 1,99,262 48,461 662 49,123 7,044 56,167	672 210 882 (71) 138 67 (931) 76 922 1,58,187 2,877 1,61,064 46,291 2,07,355 52,409 548 52,957 5,225 58,182	14,294 385 14,679 - (350) 194 (156) 2,258 222 (2,636) (0.60) 1,62,023 2,492 1,64,515 43,254 2,07,769 - 57,711 681 58,392 6,732 65,124 1.00	854 408 1,262 - 6 279 285 707 267 (689) - 1,58,187 2,877 1,61,064 46,291 2,07,355 52,409 548 52,957 5,225 58,182	8,295 669 8,964 (1,713) 405 (1,308) 5,292 367 (6,967) 1,62,075 2,398 1,64,473 38,828 2,03,301 51,946 551 52,497 6,259 58,756 -

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A 1 2 B 1 2 3	Statement of Assets and Liabilities as on 30th September, 2021	(Rs. in lakhs) As at As at 30.09.2021 31.03.2021 Unaudited Audited 279 260 705 57 1,736 1,459 2,026 2,049 - 4 46,097 46,995 1,176 1,176 4,297 3,634 5,273 4,847 61,589 60,481 97,068 1,03,174 5,787 5,016 10,430 9,734 7,621 1,089 6,553 6,370 5,752 8,115 12,969 9,322 1,46,180 1,42,820 2,07,769 2,03,301 15,418 5,138 1,27,228 1,39,407 1,42,646 1,44,545 445 - 490 426 935 426 14,072 11,140 272 65 627 579 9,110 8,862 2,951 2,891 34,998 32,685 779 729 1,379 1,379 64,188 58,330 2,07,769 2,03,301
	ASSETS Non-Current Assets Property, Plant and Equipment Right of Use Assets Capital work-in-progress Investment Property Other Intangible assets Financial Assets - Investments - Other Financial Assets Deferred tax assets (net) Other Non Current Assets Total Non Current Assets Current Assets Inventories Financial Assets - Trade Receivables - Cash and Cash Equivalents - Bank Balances other than Cash and Cash Equivalents above - Loans - Other Financial Assets Other Current Assets Total Current Assets Total Assets (1+2) EQUITY AND LIABILITIES Equity Equity Share capital Other Equity Networth Liabilities Non-Current Liabilities Financial Liabilities - Lease Liabilities Provisions Total Non Current Liabilities Current Liabilities Financial Liabilities - Borrowings - Lease Liabilities - Trade Payables Total Outstanding Dues of Micro Enterprises and Small Enterprises Total Outstanding Dues of Creditors other than Micro Enterprises and Small Enterprises - Other Financial Liabilities Other Current Liabilities Provisions Current Tax Liabilities (Net) Total Current Liabilities Total Equity and Liabilities (1+2+3)	As at 30.09.2021	As at 31.03.2021
		Unaudited	Audited
		279 705 1,736 2,026 - 46,097 1,176 4,297 5,273	260 57 1,459 2,049 4 46,995 1,176 3,634 4,847
		61,589	60,481
		97,068 5,787 10,430 7,621 6,553 5,752 12,969	1,03,174 5,016 9,734 1,089 6,370 8,115 9,322
		1,46,180	1,42,820
		2,07,769	2,03,301
		15,418 1,27,228	5,138 1,39,407
		1,42,646	1,44,545
		445 490	- 426
		935	426
		14,072 272 627 9,110 2,951 34,998 779 1,379	11,140 65 579 8,862 2,891 32,685 729 1,379
		64,188	58,330
		2,07,769	2,03,301

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Statement of Cash Flows for the Half Year Ended as on 30th September, 2021

Statement of Cash Flows for the Half Year Ended as on 30th September, 2021
	(Rs. in lakhs)
Particulars	Half Year Ended
	30.09.2021 Unaudited	30.09.2020 Unaudited
A. Cash flows from operating activities (Loss)/Profit Before Exception Item & Tax Adjustments for : Depreciation and Amortisation Expense Share issue expense Expense Recognised in respect of equity-settled-share-based-payments Interest Income Net gain arising on financial assets measured at fair value through profit or loss Finance Costs Dividend Income Loss on disposal of Property, Plant & Equipment & Intangible Assets Operating Loss Before Working Capital Changes Changes in : Increase in Trade and Other Receivables Decrease/(Increase) in Inventories Increase in Trade Payables and Other Liabilities Cash used in Operations Income taxes paid Net Cash used in operating activities B. Cash flows from investing activities Payment to acquire Property, Plant and Equipment Proceeds from disposal of Property, Plant and Equipment Bank deposits (net) Changes in earmarked balances and margin accounts with banks Proceeds/(Purchase) of investment in subsidiaries and Joint Ventures Interest received Dividend received from Joint Venture/Subsidiaries Inter-corporate Deposit Given Inter-corporate Deposit Realised Net Cash used in investing activities C. Cash flows from financing activities Proceeds from borrowings Repayment of borrowings Interest paid Dividend Paid (including tax thereon) Proceeds from issue of Equity shares of the Company Share issue Expenses Payment of lease liabilities Net Cash generated from financing activities Net Increase/(decrease) in cash and cash equivalents Cash and Cash Equivalents at the beginning of the year Cash and Cash Equivalents at the end of the period	(2,635) 273 69 185 (448) (585) 222 (2,025) 2	(689) 343 - 34 (436) (813) 267 (2,520) 44
	(4,942) (4,416) 6,313 2,682	(3,770) (1,753) (2,138) 3,417
	(363) (426)	(4,244) (529)
	(789)	(4,773)
	(376) 10 (6,528) (4) 1,483 2,891 2,025 (333) 150	(305) 38 (7,120) 93 - 2,271 2,520 (7,070) 6,320
	(682)	(3,253)
	22,365 (19,433) (383) (0) 1 (181) (202)	25,616 (20,707) (504) (18) 2 - (243)
	2,167	4,146
	696 9,734	(3,880) 7,331
	10,430	3,451
	-
	- -

The above Cash Flow Statement has been prepared under the "indirect method" as set out in 'Indian Accounting Standard (Ind AS) 7 - Statement of Cash Flows'.

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Notes:

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1 The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Company at their respective meetings held on 26th October, 2021.
The unaudited interim standalone financial results for the quarter and half year ended 30th September, 2021 have been subjected to limited review by the statutory auditors, who
have expressed an unmodified opinion
2 The standalone financial results of the Company have been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting
Standards (Ind AS) as prescribed under Section 133 of the Companies Act, 2013 read with the relevant rules issued thereunder and the other accounting principles generally
accepted in India.
3 During the current quarter ended 30th September 2021, the paid up equity capital has gone up by Rs 0.31 lakhs due to allotment of 3050 shares pursuant to exercise of stock
options by eligible employees under ESOS 2012.
4 The Management has made an assessment of the impact of COVID-19 on the Company’s operations, financial performance and position for the quarter and half year ended 30th
September 2021, and has concluded that the impact was primarily on the operational aspects of the business during the initial months of half year ended 30th September 2021.
The Company has used the principles of prudence in applying judgments, estimates and assumptions based on current assessments and do not foresee any significant impact of
Covid-19 on the operations. In assessing the recoverability of assets such as inventories, financial assets and other assets, based on current indicators of future economic
conditions, the Company expects to recover the carrying amounts of its assets.
5 Pursuant to the approval of the Shareholders, through postal ballot and e-voting on 6th September, 2021 the Company, on 16th September, 2021 allotted 10,27,87,676 Ordinary
Shares of 10/- each, as fully paid-up Bonus Shares in the proportion of 2 (Two) Bonus Share of 10/- each for every existing 1 (One) Ordinary Shares of 10/- each held as on the
Record Date I.e. 15th September, 2021.
Consequently to the above the earnings per share (Basic and Diluted) have been adjusted for all the period presented.
6 Since the nature of activities being carried out by the Company is such that profits / losses from certain transactions do not necessarily accrue evenly over the year, results of a
quarter may not be representative of profits / losses for the year.
7 As per Ind AS 108 'Operating Segment', the Company has reported Segment Information for below segments :
a. Projects, Project Management and Development
b. Operating of Commercial Complexes
For the purpose of this, the Managing Director is the Chief Operating Decision Maker.
8 Previous period / year figures have been regrouped wherever found necessary, to conform to current period / year classification.
For and on behalf of the Board
Arvind Subramanian
Place: Mumbai Managing Director
Dated : 26th October, 2021 DIN: 02551935
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Deloitte Haskins & Sells LLP

Chartered Accountants One International Centre Tower 3, 27[th] -32[nd] Floor Senapati Bapat Marg Elphinstone Road (West) Mumbai – 400 013 Maharashtra, India

Tele: + 91 22 6185 4000 Fax: +91 22 6185 4001

INDEPENDENT AUDITOR’S REVIEW REPORT ON REVIEW OF INTERIM CONSOLIDATED FINANCIAL RESULTS

TO THE BOARD OF DIRECTORS OF MAHINDRA LIFESPACE DEVELOPERS LIMITED

1. We have reviewed the accompanying Statement of Consolidated Unaudited Financial Results of MAHINDRA LIFESPACE DEVELOPERS LIMITED (“the Parent”) and its subsidiaries (the Parent and its subsidiaries together referred to as “the Group”), and its share of the net profit after tax and total comprehensive income of its associates and joint ventures for the quarter and six months ended September 30, 2021 (“the Statement”) being submitted by the Parent pursuant to the requirement of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended.

2. This Statement, which is the responsibility of the Parent’s Management and approved by the Parent’s Board of Directors, has been prepared in accordance with the recognition and measurement principles laid down in the Indian Accounting Standard 34 “Interim Financial Reporting” (“Ind AS 34”), prescribed under Section 133 of the Companies Act, 2013 read with relevant rules issued thereunder and other accounting principles generally accepted in India. Our responsibility is to express a conclusion on the Statement based on our review.

3. We conducted our review of the Statement in accordance with the Standard on Review Engagements (SRE) 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” , issued by the Institute of Chartered Accountants of India (ICAI). A review of interim financial information consists of making inquiries, primarily of Parent’s personnel responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Standards on Auditing specified under Section 143(10) of the Companies Act, 2013 and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

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Regd. Office. One International Centre, Tower 3, 27[th] -32[nd] Floor, Senapati Bapat Marg, Elphinstone Road (West), Mumbai – 400 013, Maharashtra, India. (LLP Identification No. AAB-8737)

Deloitte Haskins & Sells LLP

We also performed procedures in accordance with the circular issued by the SEBI under Regulation 33(8) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, to the extent applicable.

1. The Statement includes the results of the following entities:

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Name of the Entity Relationship
Mahindra Lifespace Developers Limited Parent Company
Anthurium Developers Limited Subsidiary Company
Industrial Township (Maharashtra) Limited Subsidiary Company
Knowledge Township Limited Subsidiary Company
Mahindra Infrastructure Developers Limited Subsidiary Company
Mahindra Integrated Township Limited Subsidiary Company
Mahindra Residential Developers Limited Subsidiary Company
Mahindra World City (Maharashtra) Limited Subsidiary Company
Mahindra Water Utilities Limited Subsidiary Company
Rathna Bhoomi Enterprises Private Limited Subsidiary Company
Moonshine Construction Private Limited Subsidiary Company
Deep Mangal Developers Private Limited Subsidiary Company
Mahindra Bloomdale Developers Limited Subsidiary Company
Mahindra Happinest Developers Limited Joint Venture
Mahindra Industrial Park Private Limited Joint Venture
Mahindra World City (Jaipur) Limited Joint Venture
Mahindra Homes Private Limited Joint Venture
Mahindra Inframan Water Utilities Private Joint Venture
Limited
Mahindra World City Developers Limited Joint Venture
Mahindra Industrial Park Chennai Limited Joint Venture
Mahindra Construction Company Limited Associate
Mahindra Knowledge Park (Mohali) Limited Associate
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1. Based on our review conducted and procedures performed as stated in paragraph 3 above and based on the consideration of the review reports of other auditors referred to in paragraph 7 below, nothing has come to our attention that causes us to believe that the accompanying Statement, prepared in accordance with the recognition and measurement principles

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Deloitte Haskins & Sells LLP

laid down in the aforesaid Indian Accounting Standard and other accounting principles generally accepted in India, has not disclosed the information required to be disclosed in terms of Regulation 33 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended, including the manner in which it is to be disclosed, or that it contains any material misstatement.

1. We did not review the interim financial information/ financial results of three subsidiaries included in the Statement, whose interim financial information/ financial results reflect total assets of Rs. 54,542.95 lakhs as at September 30, 2021, reflect total revenues of Rs. 4,742.27 lakhs and Rs. 5,008.08 lakhs for the quarter and six months ended September 30, 2021 respectively, total net profit after tax of Rs. 2,390.98 lakhs and Rs. 2,286.12 for the quarter and six months ended September 30, 2021 respectively, total comprehensive income of Rs. 2,390.98 lakhs and Rs. 2,286.12 lakhs for the quarter and six months ended September 30, 2021 respectively and net cash flows of Rs. 4,494.29 lakhs for the six months ended September 30, 2021, as considered in the Statement. The Statement also includes the Group’s share of profit after tax of Rs. 936.30 lakhs and Rs. 1,174.48 lakhs for the quarter and six months ended September 30, 2021 respectively and total comprehensive income of Rs. 936.30 lakhs and Rs. 1,174.48 lakhs for the quarter and six months ended September 30, 2021 respectively as considered in the Statement, in respect of two joint ventures, whose interim financial information/ financial results have not been reviewed by us. These interim financial information/ financial results have been reviewed by other auditors whose reports have been furnished to us by the Management and our conclusion on the Statement, in so far as it relates to the amounts and disclosures included in respect of these subsidiaries and joint ventures, is based solely on the reports of the other auditors and the procedures performed by us as stated in paragraph 3 above.

Our conclusion on the Statement is not modified in respect of these matters.

1. The Statement includes the interim financial information/ financial results of eight subsidiaries which have not been reviewed by their auditors, whose interim financial information/ financial results reflect total assets of Rs. 10,996.47 lakhs as at September 30, 2021, total revenue of Rs. NIL lakhs and Rs. NIL lakhs for the quarter and six months ended September 30, 2021 respectively, total profit / (loss) after tax of Rs. (3.10) lakhs and Rs. 887.68 lakhs for the quarter and six months ended September 30, 2021 respectively, total comprehensive income / (loss) of Rs. Rs. (3.10) lakhs and Rs. 887.68 lakhs for the quarter and six months ended September 30, 2021 respectively and net cash flows of Rs. (33.14) lakhs for the six months ended September 30, 2021, as considered in the Statement. The Statement also includes the Group’s share of loss after tax of Rs. (108.69) lakhs and Rs. (154.44) lakhs for the quarter and six months ended September 30, 2021 respectively and total comprehensive loss of Rs. Rs. (108.69) lakhs

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Deloitte Haskins & Sells LLP

and Rs. (154.44) lakhs for the quarter and six months ended September 30, 2021 respectively, as considered in the Statement, in respect of two associates and two joint ventures, based on their interim financial information/ financial results which have not been reviewed by their auditors. According to the information and explanations given to us by the Management, these interim financial information are not material to the Group.

Our Conclusion on the Statement is not modified in respect of our reliance on the interim financial information certified by the Management.

For DELOITTE HASKINS & SELLS LLP

Chartered Accountants

(Firm’s Registration No. 117366W/W-100018)

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Ketan Vora

Partner (Membership No. 100459) (UDIN: 2110459AAAAOG4790)

Place: MUMBAI Date: October 26, 2021

Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Consolidated Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021

Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Consolidated Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021	Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Consolidated Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021	Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Consolidated Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021	Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Consolidated Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021	Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Consolidated Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021	Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Consolidated Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021	Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Consolidated Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021	Mahindra Lifespace Developers Limited CIN - L45200MH1999PLC118949 Fax No.: 022-24975084 Tel.: 022-67478600 Website: www.mahindralifespaces.com Registered Office :- Mahindra Towers, 5th Floor, Worli, Mumbai - 400018 Statement of Consolidated Unaudited Financial Results for the Quarter and Half year ended 30th September, 2021
		(Rs.in Lakhs)
	Particulars	Quarter Ended			Half Year Ended		Year Ended
		30.09.2021 Unaudited	30.06.2021 Unaudited	30.09.2020 Unaudited	30.09.2021 Unaudited	30.09.2020 Unaudited	31.03.2021 Audited
1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16	Revenue from Operations Other Income Total Income (1+2) Expenses: a) Cost of Sales - Cost of Projects - Operating Expenses b) Employee Benefits Expense c) Finance Costs d) Depreciation and Amortization Expense e) Other Expenses Total Expenses Profit /(Loss) before profit/(loss) of associates, Joint ventures and tax (3-4) Share of Profit/(Loss) of Joint Ventures and associates Profit /(Loss) Before Tax (5+6) Tax Expense/(Credit): a) Current Tax b) Deferred Tax Profit /(Loss) after tax (7-8) Other Comprehensive Income/(Loss) Items that will not be reclassified to profit or loss - Remeasurements of the defined benefit liabilities (net of taxes) Total ComprehensiveProfit /(Loss) (9+10) Attributable to: Owners of the parent Non controlling interest Of The Total Comprehensive (Loss)/Income above, (Loss)/Profit for the period attributable to: Owners of the parent Non controlling interest Of The Total Comprehensive (Loss)/Income above, Other Comprehensive Income/(Loss) attributable to: Owners of the parent Non controlling interest Paid-up Equity Share Capital (Face Value of Rs.10 each) Reserves (excluding revaluation reserves) as at Balance Sheet date Earning Per Share (Face value of Rs. 10/- each) (Rs.)* a) Basic b) Diluted	5,924 646 6,570 558 14 2,327 542 138 1,772 5,351 1,219 1,174 2,393 222 848 1,323 - 1,323 652 671 652 671 - - 15,418 - 0.86 0.85	14,821 599 15,420 13,463 259 2,281 123 150 1,236 17,512 (2,092) 144 (1,948) 95 (639) (1,404) - (1,404) (1,387) (17) (1,387) (17) - - 5,139 - (0.91) (0.91)	3,078 664 3,742 1,906 16 1,627 229 177 1,325 5,280 (1,538) 367 (1,171) 123 54 (1,348) 39 (1,309) (1,294) (15) (1,333) (15) 39 - 5,137 - (0.87) (0.87)	20,745 1,245 21,990 14,021 273 4,608 665 288 3,008 22,863 (873) 1,318 445 317 209 (81) - (81) (735) 654 (735) 654 - - 15,418 1,47,031 (0.05) (0.05)	4,510 1,441 5,951 2,483 23 3,613 594 360 2,186 9,259 (3,308) (335) (3,643) 242 (487) (3,398) 39 (3,359) (3,292) (67) (3,331) (67) 39 - 5,137 1,80,525 (2.20) (2.20)	16,625 2,157 18,782 11,629 100 7,571 1,097 699 6,675 27,771 (8,989) 1,211 (7,778) 443 (1,076) (7,145) 2 (7,143) (7,172) 29 (7,174) 29 2 - 5,138 1,57,972 (4.63) (4.63)
* Basic and Diluted EPS for all periods, except year ended 31.03.2021, are not annualised.

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Reporting of Segment wise Revenue, Results & Segment Assets / Liabilities

Reporting of Segment wise Revenue, Results & Segment Assets / Liabilities	Reporting of Segment wise Revenue, Results & Segment Assets / Liabilities	Reporting of Segment wise Revenue, Results & Segment Assets / Liabilities	Reporting of Segment wise Revenue, Results & Segment Assets / Liabilities	Reporting of Segment wise Revenue, Results & Segment Assets / Liabilities	Reporting of Segment wise Revenue, Results & Segment Assets / Liabilities	Reporting of Segment wise Revenue, Results & Segment Assets / Liabilities	Reporting of Segment wise Revenue, Results & Segment Assets / Liabilities
		(Rs.in Lakhs)
	Particulars	Quarter Ended			Half Year Ended		Year Ended
		30.09.2021 Unaudited	30.06.2021 Unaudited	30.09.2020 Unaudited	30.09.2021 Unaudited	30.09.2020 Unaudited	31.03.2021 Audited
1 2 3 4	Segment Revenue (Revenue from Operations) a) Projects, Project Management and Development b) Operating of Commercial Complexes Total Segment Results a) Projects, Project Management and Development b) Operating of Commercial Complexes Total Segment Results Less : Other unallocable expenditure / (income) (net) excluding interest below Less : Unallocable Interest Total Loss before Tax Segment Assets a) Projects, Project Management and Development b) Operating of Commercial Complexes Total Segment Assets c) Unallocated Corporate Assets Total Assets Segment Liabilities a) Projects, Project Management and Development b) Operating of Commercial Complexes Total Segment Liabilities c) Unallocated Corporate Liabilities Total Liabilities	5,720 205 5,925 1 2,262 87 2,349 (586) 542 2,393 - 2,29,552 2,481 2,32,033 35,045 2,67,078 (483.83) 93,745 681 94,426 5,351 99,777	14,641 180 14,821 - 3,163 107 3,270 5,095 123 (1,948) - 2,15,940 2,500 2,18,440 36,640 2,55,080 82,769 662 83,431 5,663 89,094	2,868 210 3,078 - 509 138 647 1,589 229 (1,171) - 2,13,832 2,877 2,16,709 42,504 2,59,213 - 85,878 548 86,426 1,816 88,242	20,361 385 20,746 1 5,425 194 5,619 4,509 665 445 - 2,29,552 2,481 2,32,033 35,045 2,67,078 (483.83) 93,745 681 94,426 5,351 99,777	4,102 408 4,510 (101) 279 178 3,227 594 (3,643) - 2,13,832 2,877 2,16,709 42,504 2,59,213 85,878 548 86,426 1,816 88,242	15,956 669 16,625 - 1,356 405 1,761 8,442 1,097 (7,778) - 2,16,700 2,398 2,19,098 38,170 2,57,268 83,046 551 83,597 6,363 89,960
Statement of Assets and Liabilities as on 30th September 2021		(484) - (483.83) (Rs. in Lakhs) As at As at 30.09.2021 31.03.2021 Unaudited Audited 391 379 705 57 1,788 1,459 2,026 2,049 6,604 6,604 - 4 54,432 55,805 13 10 1,761 1,716 1,000 1,777 6,813 6,517 75,533 76,377 1,31,177 1,34,470 4 4 7,968 5,641 16,679 11,503 8,381 2,043 3,871 7,131 4,970 7,131 18,979 14,490 1,92,029 1,82,413 2,67,562 2,58,790 15,418 5,138 1,47,031 1,57,972 1,62,449 1,63,110 4,852 4,198 1,67,301 1,67,308 6,013 7,521 445 - 182 183 602 520 483 1,522 7,725 9,746 19,113 16,913 272 65 s 627 699 13,033 12,790 5,095 3,208 51,778 45,545 1,097 1,032 1,521 1,484 92,536 81,736 2,67,562 2,58,790 ~~-~~ ~~-~~
A 1 2 B 1 2 3	ASSETS Non-current assets Property, Plant and Equipment Right of Use Assets Capital work-in-progress Investment Property Goodwill Other Intangible assets Financial Assets - Investments - Loans - Other Financial Assets Deferred tax assets (net) Other Non Current Assets Total Non Current Assets Current assets Inventories Financial Assets - Investments - Trade Receivables - Cash and Cash Equivalents - Bank Balances other than Cash and Cash Equivalents above - Loans - Other Financial Assets Other current assets Total Current Assets Total Assets(1+2) EQUITY AND LIABILITIES Equity Equity Share capital Other Equity Networth Non Controlling Interest Liabilities Non-current liabilities Financial Liabilities - Borrowings - Lease Liabilities - Other Financial Liabilities Provisions Deferred tax liabilities (Net) Total Non Current Liabilities Current liabilities Financial Liabilities - Borrowings - Lease Liabilities - Trade Payables Total Outstanding Dues of Micro Enterprises and Small Enterprise Total Outstanding Dues of Creditors other than Micro Enterprises and Small Enterprises - Other Financial Liabilities Other current liabilities Provisions Current Tax Liabilities (Net) Total Current Liabilities Total Equity and Liabilities(1+2+3)	As at 30.09.2021	As at 31.03.2021
		Unaudited	Audited
		391 705 1,788 2,026 6,604 - 54,432 13 1,761 1,000 6,813	379 57 1,459 2,049 6,604 4 55,805 10 1,716 1,777 6,517
		75,533	76,377
		1,31,177 4 7,968 16,679 8,381 3,871 4,970 18,979	1,34,470 4 5,641 11,503 2,043 7,131 7,131 14,490
		1,92,029	1,82,413
		2,67,562	2,58,790
		15,418 1,47,031	5,138 1,57,972
		1,62,449	1,63,110
		4,852	4,198
		1,67,301	1,67,308
		6,013 445 182 602 483	7,521 - 183 520 1,522
		7,725	9,746
		19,113 272 s 627 13,033 5,095 51,778 1,097 1,521	16,913 65 699 12,790 3,208 45,545 1,032 1,484
		92,536	81,736
		2,67,562	2,58,790
		~~-~~	~~-~~

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Statement of Cash Flows for the Half Year Ended as on 30th September, 2021

Statement of Cash Flows for the Half Year Ended as on 30th September, 2021
	(Rs.in Lakhs)
Particulars	Half Year Ended
	30.09.2021 Unaudited	30.09.2020 Unaudited
A. Cash flows from operating activities (Loss)/Profit Before Tax and Exceptional Items Adjustments for : Share of profit/(loss) of joint venture and associates Depreciation and Amortisation Expense Finance costs Share issue expense Loss on disposal of Property, Plant & Equipment and Investment Property Interest Income Net gain arising on financial assets measured at fair value through profit or loss Expense recognised in respect of equity-settled share-based payments Operating (Loss)/Profit Before Working Capital Changes Changes in : (Increase) in trade and other receivables (Increase)/Decrease in inventories Increase/(Decrease) in trade and other payables Cash (used in) from Operations Income taxes paid Net Cash (used in) from operating activities B. Cash flows from investing activities Bank deposits (Net) Changes in earmarked balances and Margin accounts with banks Interest received Dividend received from Joint ventures Inter-corporate Deposit Given Inter-corporate Deposit Realised Payment to acquire Property, Plant and Equipment and Intangible Assets Proceeds from disposal of property, plant and equipment Proceeds from Investments in Subsidiaries and Joint Ventures Net Cash (used in)/generated from investing activities C. Cash flows from financing activities Proceeds from borrowings Repayment of borrowings Proceeds from issue of Equity shares of the Company Dividends paid (including tax thereon) Payment of Lease Liabilities Share Issue expenses Interest paid Net Cash generated/(used in) financing activities Net (decrease) in cash and cash equivalents Cash and Cash Equivalents at the beginning of the year Cash and Cash Equivalents at the end of the period	445 (1,318) 288 665 69 2 (510) (585) 185	(3,643) 335 360 594 - 44 (504) (813) 34
	(759) (7,277) 3,736 6,481	(3,593) (870) (1,566) 1,707
	2,181 (341)	(4,322) (854)
	1,840	(5,176)
	(5,936) (387) 3,155 1,110 (943) 4,200 (429) 4 1,482	(6,214) 115 2,178 - (3,707) 2,270 (82) 38 -
	2,256	(5,402)
	22,472 (20,280) 1 - (202) (181) (730)	30,708 (23,206) 1 (18) (243) (1,347)
	1,080	5,895
	5,176 11,503	(4,683) 9,247
	16,679	4,564
	0.00

The above Cash Flow Statement has been prepared under the "indirect method" as set out in 'Indian Accounting Standard (Ind AS) 7 - Statement of Cash Flows'.

Notes: 1 The above results have been reviewed by the Audit Committee and approved by the Board of Directors of the Parent Company at their respective meetings held on 26th October, 2021. The unaudited interim consolidated financial results for the quarter and half year ended 30th September, 2021 have been subjected to limited review by the statutory auditors, who have expressed an unmodified opinion. 2 These results include the result of (I) Mahindra Infrastructure Developers Ltd, a 100% subsidiary (ii) * Mahindra World City Developers Ltd, a 89% subsidiary, (iii) * Mahindra World City (Jaipur) Ltd, a 74% subsidiary (iv) Mahindra World City (Maharashtra) Ltd, a 100% subsidiary, (v) Mahindra Integrated Township Ltd, a 97.14% subsidiary, (vi) Knowledge Township Ltd., a 100% subsidiary, (vii) Mahindra Residential Developers Ltd, a 97.14% subsidiary (viii) Mahindra Bloomdale Developers Ltd. , a 100% subsidiary, (ix) Industrial Township (Maharashtra) Ltd., a 100% subsidiary, (x) Anthurium Developers Limited, a 100% subsidiary, (xi) Mahindra Industrial Park Private Limited , a 100% subsidiary (xii) * Mahindra Industrial Park Chennai Limited, a 53.4% subsidiary, (xiii) Mahindra Water Utilities Ltd, a 98.99% subsidiary (xiv) Mahindra Homes Private Limited a 71.61% subsidiary, (xv) * Mahindra Happinest Developers Ltd , a 51% subsidiary, (xvi) Deepmangal Developers Private Limited, a 100% subsidiary, (xvii) Mahindra Knowledge Park Mohali Limited, a 99.99% subsidiary (xviii) Moonshine Construction Private Limited, a 100% subsidiary; (xix) * Mahindra Inframan Water Utilities Private Limited, a 50% joint venture of subsidiary (xx) Rathna Bhoomi Enterprises Private Ltd, 100% subsidiary (xxi) Mahindra Construction Company Limited consolidated using line by line consolidation method under Ind AS.

* Consolidated as per equity accounting under Ind AS

3 During the current quarter ended 30th September 2021, the paid up equity capital has gone up by Rs 0.31 lakhs due to allotment of 3050 shares pursuant to exercise of stock options by eligible employees under ESOS 2012. 4 The Management has made an assessment of the impact of COVID-19 on the Group operations, financial performance and position as at and for the quarter and half year ended 30 September 2021 and has concluded that the impact is primarily on the operational aspects of the business during the initial months of half year ended 30 September 2021. The Company has used the principles of prudence in applying judgments, estimates and assumptions based on current assessments and do not foresee any significant impact of Covid-19 on the operations. In assessing the recoverability of assets such as inventories, financial assets and other assets, based on current indicators of future economic conditions, the Company expects to recover the carrying amounts of its assets. 5 Pursuant to the approval of the Shareholders, through postal ballot and e-voting on 6th September, 2021 the Parent Company, on 16th September, 2021 allotted 10,27,87,676 Ordinary Shares of 10/- each, as fully paid-up Bonus Shares in the proportion of 2 (Two) Bonus Share of 10/- each for every existing 1 (One) Ordinary Shares of 10/- each held as on the Record Date I.e. 15th September, 2021. Consequently to the above the earnings per share (Basic and Diluted) have been adjusted for all the period presented.

6 Since the nature of activities being carried out by the group is such that profits / losses from certain transactions do not necessarily accrue evenly over the year, results of a quarter may not be representative of profits / losses for the year.

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• 7 As per Ind AS 108 'Operating Segment', the group has reported Segment Information for below segments : a. Projects, Project Management and Development b. Operating of Commercial Complexes For the purpose of this, the Managing Director is the Chief Operating Decision Maker.

7 8 Year Ended 30.09.2021 Unaudited 30.06.2021 Unaudited 30.09.2020 Unaudited 30.09.2021 Unaudited 30.09.2020 Unaudited 31.03.2021 Audited Total Income (Including Other Income) 3,293 14,575 4,014 17,868 5,132 13,639 (Loss)/Profit before tax (520) (2,115) 922 (2,635) (689) (6,967) (Loss)/Profit after tax (430) (1,542) 675 (1,972) (533) (5,225) 9 For and on Behalf of the Board Arvind Subramanian Place: Mumbai Managing Director Dated : 26th October, 2021 DIN: 02551935 Previous period / year figures have been regrouped wherever found necessary, to conform to current period / year classification. As per Ind AS 108 'Operating Segment', the group has reported Segment Information for below segments : a. Projects, Project Management and Development b. Operating of Commercial Complexes For the purpose of this, the Managing Director is the Chief Operating Decision Maker. Particulars Quarter Ended Half Year Ended The Standalone Financial results for the quarter and half year ended 30th September, 2021 are summarized below and detailed financial report is also available on the Stock Exchange website, www.nseindia.com, www.bseindia.com and Company's website www.mahindralifespaces.com.	7 8 Year Ended 30.09.2021 Unaudited 30.06.2021 Unaudited 30.09.2020 Unaudited 30.09.2021 Unaudited 30.09.2020 Unaudited 31.03.2021 Audited Total Income (Including Other Income) 3,293 14,575 4,014 17,868 5,132 13,639 (Loss)/Profit before tax (520) (2,115) 922 (2,635) (689) (6,967) (Loss)/Profit after tax (430) (1,542) 675 (1,972) (533) (5,225) 9 For and on Behalf of the Board Arvind Subramanian Place: Mumbai Managing Director Dated : 26th October, 2021 DIN: 02551935 Previous period / year figures have been regrouped wherever found necessary, to conform to current period / year classification. As per Ind AS 108 'Operating Segment', the group has reported Segment Information for below segments : a. Projects, Project Management and Development b. Operating of Commercial Complexes For the purpose of this, the Managing Director is the Chief Operating Decision Maker. Particulars Quarter Ended Half Year Ended The Standalone Financial results for the quarter and half year ended 30th September, 2021 are summarized below and detailed financial report is also available on the Stock Exchange website, www.nseindia.com, www.bseindia.com and Company's website www.mahindralifespaces.com.	7 8 Year Ended 30.09.2021 Unaudited 30.06.2021 Unaudited 30.09.2020 Unaudited 30.09.2021 Unaudited 30.09.2020 Unaudited 31.03.2021 Audited Total Income (Including Other Income) 3,293 14,575 4,014 17,868 5,132 13,639 (Loss)/Profit before tax (520) (2,115) 922 (2,635) (689) (6,967) (Loss)/Profit after tax (430) (1,542) 675 (1,972) (533) (5,225) 9 For and on Behalf of the Board Arvind Subramanian Place: Mumbai Managing Director Dated : 26th October, 2021 DIN: 02551935 Previous period / year figures have been regrouped wherever found necessary, to conform to current period / year classification. As per Ind AS 108 'Operating Segment', the group has reported Segment Information for below segments : a. Projects, Project Management and Development b. Operating of Commercial Complexes For the purpose of this, the Managing Director is the Chief Operating Decision Maker. Particulars Quarter Ended Half Year Ended The Standalone Financial results for the quarter and half year ended 30th September, 2021 are summarized below and detailed financial report is also available on the Stock Exchange website, www.nseindia.com, www.bseindia.com and Company's website www.mahindralifespaces.com.	7 8 Year Ended 30.09.2021 Unaudited 30.06.2021 Unaudited 30.09.2020 Unaudited 30.09.2021 Unaudited 30.09.2020 Unaudited 31.03.2021 Audited Total Income (Including Other Income) 3,293 14,575 4,014 17,868 5,132 13,639 (Loss)/Profit before tax (520) (2,115) 922 (2,635) (689) (6,967) (Loss)/Profit after tax (430) (1,542) 675 (1,972) (533) (5,225) 9 For and on Behalf of the Board Arvind Subramanian Place: Mumbai Managing Director Dated : 26th October, 2021 DIN: 02551935 Previous period / year figures have been regrouped wherever found necessary, to conform to current period / year classification. As per Ind AS 108 'Operating Segment', the group has reported Segment Information for below segments : a. Projects, Project Management and Development b. Operating of Commercial Complexes For the purpose of this, the Managing Director is the Chief Operating Decision Maker. Particulars Quarter Ended Half Year Ended The Standalone Financial results for the quarter and half year ended 30th September, 2021 are summarized below and detailed financial report is also available on the Stock Exchange website, www.nseindia.com, www.bseindia.com and Company's website www.mahindralifespaces.com.	7 8 Year Ended 30.09.2021 Unaudited 30.06.2021 Unaudited 30.09.2020 Unaudited 30.09.2021 Unaudited 30.09.2020 Unaudited 31.03.2021 Audited Total Income (Including Other Income) 3,293 14,575 4,014 17,868 5,132 13,639 (Loss)/Profit before tax (520) (2,115) 922 (2,635) (689) (6,967) (Loss)/Profit after tax (430) (1,542) 675 (1,972) (533) (5,225) 9 For and on Behalf of the Board Arvind Subramanian Place: Mumbai Managing Director Dated : 26th October, 2021 DIN: 02551935 Previous period / year figures have been regrouped wherever found necessary, to conform to current period / year classification. As per Ind AS 108 'Operating Segment', the group has reported Segment Information for below segments : a. Projects, Project Management and Development b. Operating of Commercial Complexes For the purpose of this, the Managing Director is the Chief Operating Decision Maker. Particulars Quarter Ended Half Year Ended The Standalone Financial results for the quarter and half year ended 30th September, 2021 are summarized below and detailed financial report is also available on the Stock Exchange website, www.nseindia.com, www.bseindia.com and Company's website www.mahindralifespaces.com.	7 8 Year Ended 30.09.2021 Unaudited 30.06.2021 Unaudited 30.09.2020 Unaudited 30.09.2021 Unaudited 30.09.2020 Unaudited 31.03.2021 Audited Total Income (Including Other Income) 3,293 14,575 4,014 17,868 5,132 13,639 (Loss)/Profit before tax (520) (2,115) 922 (2,635) (689) (6,967) (Loss)/Profit after tax (430) (1,542) 675 (1,972) (533) (5,225) 9 For and on Behalf of the Board Arvind Subramanian Place: Mumbai Managing Director Dated : 26th October, 2021 DIN: 02551935 Previous period / year figures have been regrouped wherever found necessary, to conform to current period / year classification. As per Ind AS 108 'Operating Segment', the group has reported Segment Information for below segments : a. Projects, Project Management and Development b. Operating of Commercial Complexes For the purpose of this, the Managing Director is the Chief Operating Decision Maker. Particulars Quarter Ended Half Year Ended The Standalone Financial results for the quarter and half year ended 30th September, 2021 are summarized below and detailed financial report is also available on the Stock Exchange website, www.nseindia.com, www.bseindia.com and Company's website www.mahindralifespaces.com.	7 8 Year Ended 30.09.2021 Unaudited 30.06.2021 Unaudited 30.09.2020 Unaudited 30.09.2021 Unaudited 30.09.2020 Unaudited 31.03.2021 Audited Total Income (Including Other Income) 3,293 14,575 4,014 17,868 5,132 13,639 (Loss)/Profit before tax (520) (2,115) 922 (2,635) (689) (6,967) (Loss)/Profit after tax (430) (1,542) 675 (1,972) (533) (5,225) 9 For and on Behalf of the Board Arvind Subramanian Place: Mumbai Managing Director Dated : 26th October, 2021 DIN: 02551935 Previous period / year figures have been regrouped wherever found necessary, to conform to current period / year classification. As per Ind AS 108 'Operating Segment', the group has reported Segment Information for below segments : a. Projects, Project Management and Development b. Operating of Commercial Complexes For the purpose of this, the Managing Director is the Chief Operating Decision Maker. Particulars Quarter Ended Half Year Ended The Standalone Financial results for the quarter and half year ended 30th September, 2021 are summarized below and detailed financial report is also available on the Stock Exchange website, www.nseindia.com, www.bseindia.com and Company's website www.mahindralifespaces.com.	7 8 Year Ended 30.09.2021 Unaudited 30.06.2021 Unaudited 30.09.2020 Unaudited 30.09.2021 Unaudited 30.09.2020 Unaudited 31.03.2021 Audited Total Income (Including Other Income) 3,293 14,575 4,014 17,868 5,132 13,639 (Loss)/Profit before tax (520) (2,115) 922 (2,635) (689) (6,967) (Loss)/Profit after tax (430) (1,542) 675 (1,972) (533) (5,225) 9 For and on Behalf of the Board Arvind Subramanian Place: Mumbai Managing Director Dated : 26th October, 2021 DIN: 02551935 Previous period / year figures have been regrouped wherever found necessary, to conform to current period / year classification. As per Ind AS 108 'Operating Segment', the group has reported Segment Information for below segments : a. Projects, Project Management and Development b. Operating of Commercial Complexes For the purpose of this, the Managing Director is the Chief Operating Decision Maker. Particulars Quarter Ended Half Year Ended The Standalone Financial results for the quarter and half year ended 30th September, 2021 are summarized below and detailed financial report is also available on the Stock Exchange website, www.nseindia.com, www.bseindia.com and Company's website www.mahindralifespaces.com.	7 8 Year Ended 30.09.2021 Unaudited 30.06.2021 Unaudited 30.09.2020 Unaudited 30.09.2021 Unaudited 30.09.2020 Unaudited 31.03.2021 Audited Total Income (Including Other Income) 3,293 14,575 4,014 17,868 5,132 13,639 (Loss)/Profit before tax (520) (2,115) 922 (2,635) (689) (6,967) (Loss)/Profit after tax (430) (1,542) 675 (1,972) (533) (5,225) 9 For and on Behalf of the Board Arvind Subramanian Place: Mumbai Managing Director Dated : 26th October, 2021 DIN: 02551935 Previous period / year figures have been regrouped wherever found necessary, to conform to current period / year classification. As per Ind AS 108 'Operating Segment', the group has reported Segment Information for below segments : a. Projects, Project Management and Development b. Operating of Commercial Complexes For the purpose of this, the Managing Director is the Chief Operating Decision Maker. Particulars Quarter Ended Half Year Ended The Standalone Financial results for the quarter and half year ended 30th September, 2021 are summarized below and detailed financial report is also available on the Stock Exchange website, www.nseindia.com, www.bseindia.com and Company's website www.mahindralifespaces.com.
	8 9	The Standalone Financial results for the quarter and half year ended 30th September, 2021 are summarized below and detailed financial report is also available on the Stock Exchange website, www.nseindia.com, www.bseindia.com and Company's website www.mahindralifespaces.com.
		Particulars	Quarter Ended			Half Year Ended		Year Ended
			30.09.2021 Unaudited	30.06.2021 Unaudited	30.09.2020 Unaudited	30.09.2021 Unaudited	30.09.2020 Unaudited	31.03.2021 Audited
		Total Income (Including Other Income) (Loss)/Profit before tax (Loss)/Profit after tax	3,293 (520) (430)	14,575 (2,115) (1,542)	4,014 922 675	17,868 (2,635) (1,972)	5,132 (689) (533)	13,639 (6,967) (5,225)
		For and on Behalf of the Board Arvind Subramanian Place: Mumbai Managing Director Dated : 26th October, 2021 DIN: 02551935 Previous period / year figures have been regrouped wherever found necessary, to conform to current period / year classification.

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Press Release

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For immediate dissemination

Mahindra Lifespaces[®] achieves residential sales of Rs. 303 crore during Q2 FY2022

Mumbai, October 26, 2021 – Mahindra Lifespace Developers Limited (MLDL), the real estate and infrastructure development business of the Mahindra Group, announced its financial results for the quarter ended 30[th] Sep 2021 today.

In accordance with IND AS 115, Company recognizes its revenues on completion of contract method.

FINANCIAL HIGHLIGHTS FOR Q2 FY22:

• The consolidated total income stood at Rs. 65.7 crore as against Rs. 154.2 crore in Q1 FY22 and Rs. 37.4 crore in Q2 FY21.

• The consolidated PAT, after non-controlling interest, stood at a profit of Rs. 6.5 crore as against a loss of Rs. 13.9 crore in Q1 FY22 and a loss of Rs. 13.3 crore in Q2 FY21.

Commenting on the performance, Mr. Arvind Subramanian, Managing Director & Chief Executive Officer, Mahindra Lifespace Developers Ltd., said, “We have seen encouraging demand growth in both our residential and industrial parks businesses in Q2 FY22. Further, project execution has gained pace. The response to the launch of our first Mahindra Happinest project at Mahindra World City, Chennai has been very heartening. More than 80% of launched inventory in the project has been booked, an endorsement of our product-led strategy. We have multiple launches lined up in H2 FY22 across our priority markets and are hoping for a strong operational performance through the second half of the year. With gradual easing of travel restrictions, conversion of enquiries is likely to pick up pace in our industrial parks business.”

OPERATIONAL HIGHLIGHTS FOR Q2 FY22:

• Achieved sales of Rs. 303 crore (0.39 msft) in residential business.

• Launched a project at MWC Chennai with area of 0.20 msft.

• Completed 0.41 msft at Luminare, Gurgaon.

• Attained collections of Rs. 171 crore in residential business.

• Leased 27.7 acres across MWC Jaipur and MWC Chennai.

• Consolidated cost of debt stood at 6.7%; standalone cost of debt stood at 5.7%.

Notes:

1. Company uses carpet areas in its customer communication. However, the data in saleable area terms has been presented here to enable continuity of information to investors and shall not be construed to be of any relevance to home buyers / customers.

2. The operational highlights include the performance of the Company and its subsidiaries / joint ventures / associates.

About Mahindra Lifespace Developers Ltd.

Established in 1994, Mahindra Lifespace Developers Ltd. (‘Mahindra Lifespaces’) brings the Mahindra Group’s philosophy of ‘Rise’ to India’s real estate and infrastructure industry through thriving residential communities and enabling business ecosystems. The Company’s development footprint spans 27.4 million sq. ft. (2.5 million sq. m.) of completed, ongoing and forthcoming residential projects across seven Indian cities; and over 5000 acres of ongoing and forthcoming projects under development/management at its integrated developments/industrial clusters across four locations.

Mahindra Lifespaces’ development portfolio comprises premium residential projects; value homes under the ‘Mahindra Happinest®’ brand; and integrated cities and industrial clusters under the ‘Mahindra World City’ and ‘Origins by Mahindra’ brands respectively. The Company leverages innovation, thoughtful design, and a deep commitment to sustainability to craft quality life and business growth.

The first real estate company in India to have committed to the global Science Based Targets initiative (SBTi), all Mahindra Lifespaces’ projects are certified environment friendly. With a 100% Green portfolio since 2013, the Company is working towards carbon neutrality by 2040 and actively supports research on green buildings tailored to climatic conditions in India. Mahindra Lifespaces is the recipient of over 80 awards for its projects and ESG initiatives.

Learn more about Mahindra Lifespaces® at www.mahindralifespaces.com

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About Mahindra

Founded in 1945, the Mahindra Group is one of the largest and most admired multinational federation of companies with 260,000 employees in over 100 countries. It enjoys a leadership position in farm equipment, utility vehicles, information technology and financial services in India and is the world’s largest tractor company by volume. It has a strong presence in renewable energy, agriculture, logistics, hospitality and real estate.

The Mahindra Group has a clear focus on leading ESG globally, enabling rural prosperity and enhancing urban living, with a goal to drive positive change in the lives of communities and stakeholders to enable them to Rise.

Learn more about Mahindra on www.mahindra.com / Twitter and Facebook: @MahindraRise/ For updates subscribe to https://www.mahindra.com/news-room

For further enquiries, please contact:

Mr. Sumit Kasat

Head – Investor Relations Email: kasat.sumit@mahindra.com

Ms. Shalini Bhattacharya

DGM - Corporate Communications Email: bhattacharya.shalini@mahindra.com

For Mahindra Lifespace Developers Ltd.

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Arvind Subramanian Managing Director & CEO