Keytakeaways of the conference call

Saleable area of ongoing projects is about 4.15 msft and forthcoming project was about 4.41 msft.

Net amount collectable from completed sales is Rs 804 crore, estimated sales from unsold inventory from completed & ongoing projects is Rs 1496 crore. Construction cost to be spent on ongoing projects is Rs 700 crore. Cash flow expected from further phases net of estimated construction cost of ongoing projects is Rs 445 crore.

Best ever Q2 sales of 0.40 msft saleable area (350 units), valued at Rs 256 crore.

On August 2018 launched a new project ‘LAKEWOODS' (Phase I) in Mahindra World City, Chennai. The project has a total saleable area of 0.90 msft comprising of 747 units.

Executed definitive agreements for acquisition of a land parcel on Kalyan – Bhiwandi Road having a development potential of about 0.84 msft targeting the affordable housing segment. Definitive agreement for two projects with a development space of 1.4 msft is under pipeline and will be signed soon.

The affordable housing project at Kalyan Bhiwandi will be under HappyNest and the project will get launched in Q4FY19.

Acquired additional land of 70.8 acres at Origins, Ahmedabad during Q2 FY19, enhancing the project's total gross area to 340 acres from 268 acres.

Roots Kandivali and Lakewoods Phase I contributed about Rs 88 crore out of 258 crore of sales.

Pursuant to the strategic partnership with International Finance Corporation (IFC), received funding of Rs 195 crore in Mahindra World City, Jaipur.

Leased an area of about 12.3 acres (3 customers) at MWC, Chennai and 13 acres (2 customers) at MWC, Jaipur. Best ever Q2 lease value of Rs 67.4 crore.

PAT of Mahindra Homes (MHPL) was Rs 31.9 crore; Rs 2.5 crore from MITL; Rs 12.1 crore from MWC-Chennai; Rs 12.5 crore from MWC-Jaipur. Of the associates profits the share of the company was about Rs 41 crore.

Regulation and liquidity crisis there are not much buyers of land and this gives better bargaining power for the player, who has access to capital and good brand.

The company has mapped out completion for each quarter but the revenue recognition is only on Occupancy certificate, which is not in the hands of the company. For this quarter couple of completion is expected.