The link given by Hitesh has the following comments from MotiLal Oswal.

Motilal Oswal has maintained its buy rating on Mahindra Lifespace, in its February 10, 2009 report. "We expect the entire future capex requirement at the Jaipur SEZ to be self financed through sale of processing area and the residential vertical. MLL has healthy balance sheet with net cash of Rs 200 million and has no major land out standings or debtors. This coupled with its strong management pedigree differentiates the company from its peers. MLIFE trades at a P/E of 7.4x its FY09E EPS of Rs 17 and a P/B of 0.6x its FY09E book value of Rs 220 per share."

"We have lowered our NAV for MLIFE by 5.7% to Rs 590/sh from Rs 626/sh to account for lower realizations (Rs 2,500/sf v/s Rs 2,700/sf) for its residential project at the Chennai SEZ. Our NAV of Rs 590/sh is based on SOTP valuations: 1) Chennai SEZ at Rs 150/share, 2) Jaipur SEZ at Rs200/share, 3) Residential vertical at Rs 164/share and 4) cash/other rental assets at Rs 76/share. MLIFE is available at 76% discount to its NAV. Maintain Buy," says Motilal Oswal's research report

Mahindra lifespace is one of the fw companies that has not reduced the cost of the flats in its on going projects nor has resorted to freebies also the cost of the flats i.e the one comming up in Faridabad is head and shoulder above the rest.

The Chennai buildings are also sold out also the Jaipur Sez is not dependent on the Govt for land aquisition and is hit with the jwellery crowd.