Mahindra World City Developers transfers 9.24 acres land to Alliance Budget Housing

March 29, 2023
 Representative Image
Representative Image

NEW DELHI: Mahindra World City Developers, a subsidiary of Mahindra Lifespace Developers, has transferred land admeasuring 9.24 acres on perpetual lease within the Mahindra World City, Chennai to Alliance Budget Housing for the development of a multi-storey residential project.

This project will be an addition to Mahindra World City’s existing residential and commercial offerings.

The company recently appointed Amit Kumar Sinha as an additional director with effect from February 23, 2023. Sinha has also been appointed as managing director (designate) of the company from February 23, 2023 to May 22, 2023. From May 23, 2023, he will take over as full time MD & CEO of the company for a period of five years till May 22, 2028.

It had reported a growth of 37.17 per cent in its net consolidated profit during the quarter ended December 31, 2022. Its profit after tax (PAT) stood at Rs 34.10 crore in Q3 FY23 as against Rs 24.86 crore it registered in the corresponding quarter of the previous year. Its net consolidated income stood at Rs 198.14 crore in Q3 FY23, a growth of 494.66 per cent from Rs 33.32 crore it recorded in the similar quarter last year.

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