Multibagger Stock: This mid-cap company receives order worth Rs 850 crore!

The stock gave multibagger returns of 130 per cent in just 3 years.

Mahindra Lifespace Developers Limited, the real estate and infrastructure development arm of the Mahindra Group, has won another society redevelopment project. The company has been selected as the preferred partner to redevelop a residential society in Malad, West, one of the prominent residential and commercial localities situated in the western part of Mumbai. The project will offer Mahindra Lifespaces a revenue potential of around Rs 850 crore.  

Mahindra Lifespace Developers Ltd is engaged in the business of development of the real estate, residential facilities, commercial complexes and through its subsidiary companies is involved in various infrastructure projects, including the development of SEZs and Industrial Clusters. Today, shares of the company saw a spurt in volume by more than 6.69 times on BSE.  

Talking about the financials, Mahindra Lifespace Developers has a market cap of over Rs 5,000 crore with 3 years CAGR of 82 per cent. The company reported positive numbers in its Quarterly Results (Q3) and annual results (FY22). The company is expected to report a good quarter and in addition it is releasing its quarterly results (Q4) and annual results (FY23) tomorrow.  

On Monday, shares of Mahindra Lifespace Developers ended the day lower, down 0.45 per cent to Rs 372.05 per share with an intraday high of Rs 386 and an intraday low of Rs 369.10.   

The stock gave multibagger returns of 130 per cent in just 3 years. Investors should keep an eye on this Mid-Cap stock.