Mahindra Lifespace Developers Limited — Important, 11-12-2024: Disclosure of material issue

The Company has received a tax demand order from the Office of the Assistant Commissioner of State Tax in Chengalpattu, Tamil Nadu, for the financial year 2019-2020. The total demand amounts to ₹2.09 crore, comprising ₹0.70 crore in interest, ₹0.70 crore in GST, and a penalty of ₹0.70 crore. Despite the ruling, the Company maintains that there is no non-compliance and plans to appeal the decision, expressing confidence in a favorable outcome. Importantly, it does not expect this order to significantly impact its financial operations. Investors should monitor the appeal process as a key point of interest.