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The Dow Jones Industrial Average rose 103.51 points, or 0.33%, at the open to 31,865.05.

This was achieved on the back of strong response to our new launches in Bangalore and Gurgaon as well as robust sustenance sales across our portfolio. Our industrial leasing, at Rs 118 crore, continued its momentum,” said Arvind Subramanian, MD & CEO, Mahindra Lifespace Developers.

The company’s assets under management (AUM) grew by 28% to Rs 2.04 lakh crore at the end of June 2022 from Rs 1.59 lakh crore a year ago. New loans booked during the first quarter increased 60% to 7.42 million from 4.63 million a year ago.

"The company has access to borrowing facilities worth Rs 530 crore, of which Rs 480 crore remained unutilised as on 30th June, 2022," EIH stated.EIH stated that the consequences of the Covid-19 outbreak on the company’s and its subsidiaries’ business for the year ended 31st March, 2022 and 31st March, 2021 had been severe.

The company attributed this to the change in the effective tax rate for Q1FY23 on account of a drop in SEZ profits exemption u/s 10AA to 50% from FY23 for 5 years. The company said it is evaluating switching over to composite rate without availing any exemptions.

RBI has hiked the rate by a cumulative 0.90 per cent in two tightening moves in May and June, responding to the runaway headline inflation which has consistently overshot the upper end of the target set for the central bank for many months.Referring to policy actions since April, when RBI introduced the standing deposit facility

“The worst should be behind us on the operational front and for JLR business, it is very important for certain geographies where they cater to how the situations are turning out over there. Unfortunately, in the UK, we are facing a lot of problems. China has multiple problems and elsewhere in Europe also, there are issues to deal with. On the domestic front, the JLR business has done quite well.”

Net interest margin for the quarter rose 155 basis points to 9.5% against what it was a year back. Assets under management grew 22.4% year-on-year to Rs 17,660 crore.

The Nifty Realty index was trading 1.19 per cent up at 438.25.

The firm reported a consolidated net profit of Rs 22.83 crore in the recently concluded quarter as against a net loss of Rs 104.89 crore in the corresponding period last fiscal.Total revenue from operations increased up to four-folds to Rs 948.44 crore for the quarter ended June 2022 as against Rs 205.23 crore in June 2021. Its e-commerce sales grow by 29 per cent on a year-on-year (YoY) basis